Changes to GAAP Affecting Non-Public Entities—Recent Pronouncements & Criteria Overview Webcast | 4192513B

Date :
May 15, 2019 8:30 AM - 4:30 PM
Location :
Webcast
Facility :
Webcast Event
Level of Difficulty :
Update
Member Price :
295.00
Nonmember Price :
400.00
CPE Credits :
CPE 8.00, AA 8.00
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Recent GAAP changes are directed at transactions and circumstances that may be common to public and very large nonpublic entities. They are not common to most nonpublic entities and, in certain circumstances, may not be adopted if the effects are insignificant.

Many changes impact entities and the CPA providing financial statement services to nonpublic clients may encounter risks. This course is designed to acquaint, or remind, CPAs providing accounting and financial statement services for nonpublic entities with all recent pronouncements of the FASB and the context in which they were issued. Pronouncements from the beginning of 2016 (ASU 2016-01) through the most recent pronouncements in 2019 up to the date on which the course materials are ready for publication.

This course is designed to enable the attendee to identify all changes with which they should be familiar.  Moreover, it allows them to evaluate:

  • Whether a specific pronouncement is likely to have a material effect on the firm’s clients;
  • What portions, if any, are applicable requiring the firm and its staff to obtain an appropriate understanding;
  • How applicable portions will affect an entity’s accounting and financial reporting; and
  • How to document a decision not to adopt some or all requirements of a pronouncement due to a lack of materiality.

For those pronouncements that are widely applicable, the discussion will be comprehensive, while it will be much less thorough for those that are not. In live presentations, attendees can inform the instructor of areas that they are concerned about that were not identified as widely applicable. These can then either be incorporated or the instructor may offer to assist the attendee outside of the seminar.

Pronouncements applicable to SEC sections of the FASB Accounting Standards Codification will be listed but will not be covered. The same is true of some of the pronouncements that are industry specific. The recent standards for recognizing revenue from contracts with customers, accounting for leases, and financial instruments will also be addressed.

Formerly titled: GAAP Update

Materials are provided as an eBook.

Objectives:

  • Understand where within the accounting literature to find pending pronouncements and pronouncements recently issued by the FASB
  • Be able to determine whether a new pronouncement has the potential to have a material impact on the financial statements and how to document decisions not to adopt standards that do not
  • Understand which pronouncements issued by the FASB within the last several years should be adopted by their entities or clients, when they should do so, and how to make the transition from existing standards
  • Learn the new requirements for revenue recognition, leases, and financial instruments and how they differ from existing standards

Major Subjects:

  • Revenue recognition, leases, and financial instruments
  • Accounting for cloud computing arrangements
  • Accounting and reporting by not-for-profit entities
  • Accounting for receivables
  • Statement of cash flows
  • Derivatives and hedging

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Update
Field of Interest:
Accounting
Prerequisites:

Knowledge of generally accepted accounting principles and awareness of the FASB Accounting Standards Codification.

Designed For:

CPAs, accountants, auditors and financial professionals.

Instructors

Mark Edward Dauberman, CPA

Mark Dauberman provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management. He is also the senior editor for Roger CPA Review Course and authors CCH’s Knowledge-Based Compilations and Reviews.

Dauberman’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. Dauberman’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. He also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.

Dauberman taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University, San Bernardino. He obtained his bachelor’s degree in accounting from California State University, Northridge and his executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.

No Agenda or Materials posted.