Instructor for this course
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In today’s world of wide-spread accounting changes and ever-evolving technology and economies, staying up-to-date on technical accounting issues can become difficult and time consuming.  Regulatory and legislative issues abound, and multiple standard setting bodies exist including (but not limited to):

  • Financial Accounting Standards Board (FASB)
  • International Accounting Standards Board (IASB)
  • Public Company and Accounting Oversight Board (PCAOB)
  • American Institute of Certified Public Accountants (AICPA)
  • Committee of Sponsoring Organizations (COSO)
  • Governmental Accounting Standards Board (GASB)

This technical accounting update will begin a series of ongoing updates that will comprise important accounting and standard setting issues from relevant standard setting bodies.  This specific segment will cover important topics such as:

  • ASU 2016-09; Topic ASC 606 – Recognition of Revenue from Contracts with Customers
  • ASU 2016-02; Topic 842 – Accounting for Leases
  • ASU 2016-14; Accounting for Variable Interest Entities
  • ASU 2016-14 ; Topic 958 – Financial reporting for Not-For-Profit entities.

We will include information and summaries from the live quarterly technical accounting updates provided on the Illumeo platform and augment that information with relevant and timely insight into specific technical issues.  This includes examining technical developments promulgated by the major regulatory bodies such as the FASB, IASB, PCAOB, Securities and Exchange Commission (SEC), AICPA, COSO and GASB.

Learning Objectives

  • Explore critical issues from recent Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs) on revenue recognition (ASU 2014-09 Topic ASC 606), lease accounting (ASU 2016-02; Topic 842), not-for-profit financial reporting (ASU 2016-14; Topic 958) and variable interest entities (VIE) guidance (Topic 810).
  • Explore actions of the International Accounting Standards Board (IASB).
  • Identify issues surfacing around cloud computing and expectations for technical financial reporting.
  • Explore the world of cryptocurrency and its impact on technical accounting.
  • Explore activities of the Securities and Exchange Commission (SEC) public and non-public reporting.
  • Explore activities of oversight of the external audit firms by the Public Company Accounting Oversight Board (PCAOB).
  • Explore new accounting initiatives for Certified Public Accountants (CPA) promulgated through the  American Institute of Certified Public Accountants (AICPA).
Last updated/reviewed: November 30, 2018

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  6:06Introduction to Technical Accounting Update – Part One
  12:37FASB
  12:01Lease Accounting
  6:08ASU Update 2016-13, Financial Instruments - Credit Losses and VIE
  4:57IASB
  5:00Accounting Regulatory Update
  2:32SEC Update
  4:09Cryptocurrency
  5:22PCAOB
  4:37AICPA
CONTINUOUS PLAY
  1:03:29Technical Accounting Update – Part One
SUPPORTING MATERIALS
  PDFSlides: Technical Accounting Update – Part One
  PDFTechnical Accounting Update – Part One Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM