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Accounting for Financial Instruments: Making Sense of the FASB’S New Guidance on Impairment, Hedging, and Financial Assets and Liabilities Webinar

CPE

When
Aug. 20
9:00 a.m. - 12:30 p.m.

CPE Credits
4-A&A

Details

 Pricing

PICPA Member: $139 | Nonmember: $189


 More Information

Course No.
AFI4-2019-01-WEBNR-232-01
Level
Intermediate
Prerequisites
Experience in financial accounting and reporting
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

With the recent completion of its financial instruments project, the FASB has made some significant changes to how an entity accounts for many of its financial instruments. In ASUs dealing with the recognition and measurement of financial assets and liabilities (ASU No. 2016-01), impairment (ASU No. 2016-13), and hedging (ASU No. 2017-12), this new guidance will challenge all entities, not just those in the financial services industry. This means you. In this course, we’ll review the new guidance in each of these areas and how it varies from existing guidance in these key areas. Specifically, we’ll review the details of the new Current Estimate of Credit Losses (CECL) model, which entities must follow when determining the credit losses on their financial instruments and which will result in the earlier recognition of credit losses. Next, we’ll discuss what’s changed in hedge accounting and how these changes may make hedging transactions more appealing to smaller entities. Lastly, we’ll explore the changes in where entities record the changes in fair value for equity securities. As almost all entities have some financial instruments that are within the scope of one or more of these new Updates, now is the time for you to get up to speed on this significant new guidance.

Highlights

  • Recall the key provisions of the new FASB Updates dealing with recognition and measurement of equity securities, impairment, and hedging
  • Review the changes from current accounting guidance resulting from the issuance of these new Updates
  • Identify key challenges in implementing the FASB’s new financial instrument standard
  • Apply the new accounting guidance related to financial instruments to real-life situations


Speaker(s)

Richard Daisley, CPA

 

Rich is a CPA and has over 25 years of experience in the accounting and auditing field. He has worked in both the client service setting as well as in internal capacities as a facilitator of accounting and auditing courses.  He was an assurance manager with PwC, spending time in both the assurance practice as well as with PwC’s Capital Markets and Accounting Advisory Services group, where he advised clients on the implementation of new accounting pronouncements as well as on issues related to public offerings. Rich also worked in PECO Energy’s Merger and Acquisition group, where he performed financial due diligence that supported PECO’s acquisition activity in the energy sector. He has experience in the manufacturing, health care, energy, and pharmaceutical industries.

 

Prior to joining Surgent, Rich also has more than 10 years of experience as a course developer and facilitator, creating and leading training courses on such topics as revenue recognition, stock based compensation, equity instruments and performing integrated audits under the Sarbanes-Oxley legislation. He also designed and delivered courses on instructor development and facilitation skills to senior PwC internal course instructors. 

 

In 2015 he joined Surgent as Director, Accounting & Financial Reporting Content. In this role, he researches and develops the technical content for Surgent’s Accounting and Financial Reporting curriculum.

 


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