Identify and understand changes to significant topics and subtopics of the FASB Accounting Standards Codification (ASC) resulting from Accounting Standards Updates (ASUs) that became effective during calendar year 2018 or 2019 and those scheduled to become effective during calendar year 2020 or 2021. Determine whether each ASU applies to financial statements the accountant is associated with and whether they are required to be adopted. Understand how to make the transition from current standards to the requirements of each applicable ASU. Identify which financial statements are affected by the change and which elements of financial reporting are affected. Distinguish between ASUs that involve changing from one method of accounting to another from those that retain current methods but change one or more aspects of them. Highlights
Examine accounting principles using key pronouncements for nonpublic entities that became effective from 2018 to 2019, those coming in 2020 - 2021, and standards without specific effective dates.General requirements will be addressed, including which pronouncements apply, financial statement elements affected, calculations, and reporting, including classifications, characterization, and disclosures. Review additional items for 2020 - 2021 pronouncements, including required adoption, recognizing transitions, adoption alternatives, and required special disclosures.Pronouncements for SEC reporting entities will not be addressed.
Registration
PICPA Member: $295 Nonmember: $400
More Information
Course No.
4202513E
Level:
Update
Prerequisites:
Knowlege of GAAP and awareness of the FASB Accounting StandardsCodification.
Notes
None
Speaker(s)
Mark Dauberman
Mark Dauberman taught his first
university accounting class in 1969 and has been involved in accounting
education since having taught at CSUN, CSULA, UCLA, and Loyola Marymount
University. He obtained his bachelors degree in accounting from California
State University at Northridge (CSUN) in June of 1970. In 2010, he
completed the Executive MBA program at the Peter Drucker and Masatoshi Ito
School of Management at Claremont Graduate University, where he had been a
student of Dr Drucker in 1971. Mark's public accounting experience
includes working with various local firms throughout high school and
college, and employment with Kenneth Leventhal & Company. More
recently he was a partner at NSBN, a Beverly Hills CPA and business
consulting firm. Mark's industry experience includes serving as assistant
controller of a large trucking and warehousing firm. He has been both a
controller and the Vice President of Finance and Administration for major
real estate development companies. Mark also spent nearly 30 years as an
entrepreneur, operating a business that prepared individuals for the CPA
exam Mark currently provides CPE and technical staff training for CPA
firms, private industry employers of accountants, and government
organizations on topics that include applying the risk assessment
standards, fraud, internal and external auditing, developing internal
controls, strategic planning, and practice management. In addition to
numerous CPE courses and articles, Mark authors the CCH publication
Knowledge-Based Compilations & Reviews. He also provides consulting
services to CPA firms, providing assistance on matters involving strategic
planning; partner compensation issues; client management; and the
planning, performance, and review of financial statement
services.