Not currently accepting new students
****This course is being updated and will be available shortly****
New Accounting Standards Updates (ASUs) related to U.S. Generally Accepted Accounting Principles (GAAP) are issued on a regular basis. It can be time-consuming and confusing to keep up-to-date on the resulting impact on financial statements and disclosures, especially when many changes relate primarily to public business entities, larger companies, or specific industries.
This course focuses on explaining the most significant U.S. GAAP updates that are most relevant to small- and medium-size private entities.
Course Series
This course is included in the following series:
6 CoursesAn Auditor's Perspective on...
- Preparing Financial Statements – An Auditor’s Perspective on What Matters Most
- Independence Rules for CPA’s – An Auditor’s Perspective on Significant AICPA, Public Company, Governmental, and International Differences
- Designing and Performing Sampling Plans – An Auditor’s Perspective on Monitoring Internal Controls, Compliance, and the Reasonableness of Account Balances
- FASB ASC Section 205-40: Going Concern Uncertainty – An Auditor’s Perspective
- FASB ASC Topic 470: Debt – An Auditor’s Perspective on Common Balance Sheet Classification Issues
- FASB ASC Topic 820 Fair Value – An Auditor’s Perspective on Determining Fair Value of Non-Readily Marketable Investments
Learning Objectives
- Identify the important accounting policy elections to consider related to Private Company Council (PCC) U.S. Generally Accepted Accounting Principles (GAAP) alternatives available to nonpublic entities
- Discover the highlights of recently-issued Accounting Standards Updates (ASUs), focusing on the changes most relevant to small- and medium-sized nonpublic business entities
- Explore where financial statement preparers should focus the most time and attention in the near term
Last updated/reviewed: November 10, 2016
8 Reviews (41 ratings)Reviews
Anonymous
(CFO)
I enjoy this instructors presentations. I think because of the volume of information packed into this presentation sometimes the explanations were not clear. Otherwise this was a great way to get an overview of the ASU's that will be affecting small to midsized entities.
Shirley Bailey
(Board Member at GMR Protection Resources)
Good overview of ASU's and how they might affect nonpublic companies. Instructor is a good speaker and has good slides that make retention easier.
Anonymous
(CPA, CFE, CGMA)
The slides are too packed with abstract theories and text heavy to make it easy for the learners to grasp the critical application.
Brett Peterson
(Consultant at DLC Group)
Good update for sure but some of the items could use more explanatory detail with regards to journaling items onto balance sheet
Anonymous
(None)
Good presentation. There is so much detailed and specific information that additional slides would have been helpful.
Anonymous
(NA)
A lot of information. Very detailed.
Anonymous
(Partner, Accounting and CFO Advisory Gro..)
Good presentation skills
Anonymous
(-)
Good summary of changes.
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .