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.
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.
Who Should Attend:
Public and industry accountants at all levels interested in remaining current on U.S. GAAP requirements.
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: Aug 28, 2026
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Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
- LearningObjectives for Annual Accounting and Financial Reporting Update 0:48
- Summary of Effective Dates 6:42
RECENT ISSUED STANDARDS
- Business Receiving Government Grants 34:28
- Derivatives and Hedge Accounting 11:26
- Accounting for and Disclosures of Software Costs 21:12
- Application of CECL Model 16:18
- Share Based Consideration Payable to Customer 13:26
- Acquirer in a VIE Acquisition 7:24
OTHER ACCOUNTING AND REPORTING UPDATES
- Effective for Nonpublic Entities in FYE 12/31/25 23:32
- Effective for Non Public Entities in FYE 12/31/26 27:08
- Other Recent FASB Activity 16:12
- Current FASB Projects 13:48
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 locked
