2021 GAAP Update (Completed)

Date: Thursday, December 2, 2021
Instructor: Lewis R. Fisher
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

We will walk through the updates to US GAAP impacting the 2021 calendar year end reporting period This session will be unique as we look sequentially at the accounting standard updates versus a topical approach. We will walk through pronouncements issued over the past few years, which will now have an impact on reporting, this comprehensive discussion will ensure you are alert to changes that could impact your reporting. Discussion will be given to existing standards originating from the FASB’s Private Company Council and how these can streamline reporting requirements. Finally, COVID related impacts to reporting will be discussed with a focus on how the accountant can best integrate these changes.

Who Should Attend
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.

Topics Covered

  • Relevant accounting standards affecting 2021 calendar year end financial statements
  • COVID related changes to key accounting matters
  • Implementation considerations of revenue recognition and lease standards
  • Private Company Council standards and application
  • Adoption and disclosure requirements for 2021 year-end financial statements

Learning Objectives

  • Recognize required GAAP reporting requirements for your company or clients
  • Identify COVID related changes to key accounting matters
  • Recognize how to properly apply new accounting standards
  • Describe how to strategize for implantation of revenue recognition and lease standards
  • Identify areas where Private Company Council standards can be applied

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
Basic understanding of GAAP.

Advance Preparation
None

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