CPAs with financial reporting responsibility for nonpublic entities face many challenges when applying GAAP. Some areas, such as revenue recognition, accounting for leases, and accounting for financial instruments have undergone significant changes. Other areas that include derivatives and hedging; assessing assets for impairment; and variable interest entities are often complex in nature with guidelines that are not necessarily clear as to when they are to be applied and what exceptions might be available.
This course addresses a variety of standards. For those with recent significant changes, the discussion will focus on the impact of the changes to accounting, financial reporting, and disclosures under the new requirements and how they differ from current reporting. For areas that have not undergone recent significant changes, the focus will be on when they are to be applied; how they might be appropriately avoided; and the various alternatives that may be available.
Specific topics will include:
For live presentations, attendees will be encouraged to suggest topics that will be added to the agenda based on their importance to the attendees and the time available for coverage.
PICPA Member: $245
Nonmember: $345
Course No. 4192792F Level: Intermediate
Prerequisites: Basic knowledge of GAAP and accrual accounting.