Revenue Recognition, Leases and Financial Instruments: FASB's Big Three New Standards

Code: FSBT

Space is available, but online registration has closed. Please call 952-831-2707 to register.

Date Tuesday, June 18, 2019
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 8.0
Field(s)
of study
Accounting - Technical (8.0)
Instructor Daryl Krause, CPA
American Institute of Certified Public Accountants
Fees
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00

Members: Please log in to receive member fee.

Description

It's time to stop procrastinating and address the tidal wave of changes coming your way. Examine the big three accounting and reporting areas that will have a major effect on all industries: revenue recognition, leases and financial instruments. Explore recent Financial Accounting Standards Board (FASB) activity on these topics and find out how they'll affect your practice or organization. Take part in hands-on activities and come away better equipped to confidently implement the new standards and guidance.

Who should take this program?

CPAs, accountants, controllers, financial professionals and staff in industry and public practice

Major subjects

  • FASB's new revenue recognition standard -- Accounting Standard Update (ASU) No. 2014-09 (Topic 606), Revenue from Contracts with Customers
  • Recent updates to revenue recognition
  • New five-step principles-based revenue recognition model
  • Revenue presentation, disclosures and implementation guidance
  • FASB's ASU on leases -- Topic 842
  • Overall lease accounting guidance
  • Lessee vs. lessor accounting
  • FASB ASUs related to financial instruments -- recognition and measurement, impairment and hedging

Learning objective(s)

  • Understand and apply the FASB's new revenue recognition standard
  • Review the FASB's new lease accounting guidance
  • Be familiar with the FASB's new ASUs dealing with recognition and measurement, impairment and hedging

Notes:

Course code Code FSBT
Sponsor MNCPA
NASBA ID#: 139884
Level Intermediate
Format Group Live
Prerequisites Prereq. Experience in financial accounting and reporting recommended.
Advance
prep
None