COURSE DESCRIPTION

This course consists of a technical update of changes to US GAAP in the past 12 months. It includes an update on current Exposure Drafts and on-going projects of the FASB. The course will also discuss the status of convergence with IFRS.

LEARNING OBJECTIVES

• Learn about new accounting standards and prepare for their implementation
• Obtain a basic knowledge of forthcoming standards and exposure drafts
• Learn about the status of convergence of US GAAP with IFRS
• Obtain implementation updates about recent standards including business combinations

MAJOR TOPICS

• New Revenue Recognition Standards – multiple deliverables and non-software deliverables
• Codification
• New accounting for variable interest entities
• Updates in fair value accounting standards including other than temporary impairments
• Projects on the horizon: Subsequent events, litigation contingencies, revenue recognition projects, non-GAAP measures
• Convergence with IFRS
• New Updates on previously issued standards: Modifications of stock option awards and business combinations

DESIGNED FOR

Accountants with financial reporting responsibilities and auditors

PREREQUISITE

None

ADVANCED PREPARATION

None

The Center for Corporate Reporting & Governance at California State University, Fullerton is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education on the National Registry of CPE Sponsors.