Top Accounting and Auditing Issues for 2020 CPE Course: Module 1
Author: Melisa Galasso, Kelen Camehl, Diane Edelstein
| CPE Credit: |
4 hours for CPAs |
This four CPE hour course reviews top accounting issues: Overview of ASUs Issued by FASB in 2018, Credit Losses on Financial Statements, and the New NPO Reporting Model.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: August 2019
Designed For
CPAs, Auditors, Accountants, and Finance Professionals
Topics Covered
- Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) during 2018
- Accounting Standards Update No. 2016-13, Measurement of Credit Losses on Financial Instruments
- Accounting Standards Update 2016-4, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities
Learning Objectives
- Recognize and apply ASUs issued by FASB in 2018
- Identify who will be impacted and the main provisions of each standard
- Recognize ASU effective dates
- Identify the key provisions of ASU No. 2016-13
- Recognize the credit loss measurement requirements for assets measured at amortized cost and available-for-sale debt securities
- Identify the incremental financial statement disclosure requirements as a result of ASU No. 2016-13
- Identify the effective date and transition requirements
- Recognize recent developments affecting entities that are required to apply the amendments in ASU No. 2016-13
- Recognize the effective dates of ASU 2016-14
- Identify the key areas of change in ASU 2016-14
- Differentiate between the two classes of net assets
- Explain how to prepare for the expanded disclosures needed under ASU 2016-14
- Identify key areas with respect to ASU 2016-14 for NPOs
- Describe ASU 2016-14's new disclosure requirement with respect to liquidity
- Identify the requirements involving investment return
- Recognize which costs should be allocated to management and general expenses and investment expense
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (4 hours)
Program Prerequisites
Basic knowledge of accounting principles.
Advance Preparation
None
