This course focuses on explaining the theory behind major issues and trends, enabling professionals to understand the most important aspects of relevant technical standards related to accounting and financial reporting.
Who Should Attend: Public and industry accountants at all levels interested in remaining current on U.S. GAAP requirements.
Major Topics:
- The latest FASB standard-setting activity, including significant projects on the horizon.
- Understanding the impact of current period changing accounting standards.
- How to appropriately address on-going or emerging accounting and reporting issues due to the current environment.
- Nonpublic entity alternatives within U.S. GAAP important to the current environment.
Prerequisites
Basic knowledge for GAAP
Learning Objective
- Identify “hot topics” in accounting and financial reporting.
- Recall “plain language” explanations of current and emerging U.S. GAAP requirements.
Last updated/reviewed: Oct 28, 2025
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Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
RECENT ISSUED STANDARDS
- Scope of Derivatives 14:28
- Current Expected Credit Losses 23:42
- Share Based Consideration 10:32
- Acquirer in a VIE Acquisition 10:50
OTHER ACCOUNTING AND REPORTING UPDATES
- Financial Instruments with Conversion Feature 15:50
- Common Control Leases 21:36
- Measuring Contract Assets and Liabilities in BusiNess Combination 10:18
- Effective for Nonpublic Entities in FY 2025 33:06
- Effective for Non Public Entities in FY 2026 29:28
- Reminder on Consolidating VIEs 28:46
CONTINUOUS PLAY
SUPPORTING MATERIALS
- Slides: Annual Accounting and Financial Reporting Update PDF
- Annual Accounting and Financial Reporting Update Glossary PDF
REVIEW & TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
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