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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:
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
Knowledge of generally accepted accounting principles and awareness of the FASB Accounting Standards Codification.
CPAs, accountants, auditors and financial professionals.
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.