US GAAP Technical Update (2 days)
This two-day course examines recent and likely future developments in US financial reporting and accounting research applications. The programme provides a technical update on US GAAP. The programme has been specifically developed to bring experienced preparers and users of financial statements up-to-date with developments that have occurred during the past 12 months, as well as other recently-effective and impending pronouncements. Technical update coverage includes new and proposed FASB Accounting Standards Updates, recent SEC issues, and FASB agenda projects. The programme also includes a discussion of trends in recent SEC comment letters.
This course answers questions such as:
- What are the recent and likely future changes in US GAAP?
- When will new requirements be effective?
- What are the application and transition rules relating to new pronouncements?
- In what ways does convergence with IFRS affect US GAAP filers?
- US GAAP Background and Update
- Current FASB Technical Plan
- Joint FASB / IFRS Project update
- Overview and History of US GAAP
- Other Developments impacting US reporting:
- Recent SEC issues
- Trends in SEC comment letters
- Technical Update
- Recent Accounting Standards Updates
- Employee Share-Based Payment Accounting Improvements (ASU 2016-09)
- Revenue Recognition
- Principal versus Agent (ASU 2016-08)
- Deferral of the Effective Date of ASU 2014-09 (ASU 2015-14)
- Simplifying the Transition to the Equity Method of Accounting (ASU 2016-07)
- Contingent Put and Call Options in Debt Instruments (ASU 2016-06)
- Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (ASU 2016-05)
- Recognition of Breakage for Prepaid Stored-Value Products (ASU 2016-04)
- PCC Issue No. 2015-01, Effective Date and Transition (ASU 2016-03)
- Leases (ASU 2016-02)
- Accounting for Financial Instruments – Classification and Measurement (ASU 2016-01)
- Accounting for Income Taxes: Balance Sheet Classification of Deferred Taxes (ASU 2015-17)
- Accounting for Measurement Period Adjustments in a Business Combination (ASU 2015-16)
- Application of the Normal Purchases and Normal Sales Scope Exception to Certain Electricity Contracts within Nodal Energy Markets (ASU 2015-13)
- Employee Benefit Plan Simplifications (ASU 2015-12)
- Simplifying the Subsequent Measurement of Inventory (ASU 2015-11)
- Technical Corrections and Improvements (ASU 2015-10)
- Proposed and Outstanding Exposure Documents
- Statement of Cash Flows
- Defined Benefit Plans: Changes to the Disclosure Requirements for Defined Benefit Plans
- Retirement Benefits: Improving the Presentation of Net Periodic Cost and Net Periodic Postretirement Benefit Cost
- Conceptual Framework
- Disclosure Framework
- Private Company Decision Making Framework
- Fair Value Measurement
- PCAOB updates
- Recent Accounting Standards Updates
- Group live instruction
- Presentation of technical update examples and case studies
- Explanation and discussion of current and upcoming accounting issues
- Use of real-world financial statements for illustration
- Interactive participation is encouraged
- All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials
A reasonable prior knowledge of the technical requirements of US GAAP is assumed. No other advance preparation is required for this course.
- Understand the current US financial reporting environment
- Apply recent changes in US GAAP and plan ahead for expected future changes
- Build on existing knowledge and be prepared to comply with upcoming requirements
- Become familiar with recent SEC developments
- Consider the future direction of US GAAP
- Network and interact with other experienced practitioners
- Benefit from real-world illustrations
Who should attend?
This course is primarily designed for those who currently prepare or are planning on preparing their financial statements under US GAAP. It is also suitable for those employed by subsidiaries of US parents companies in order to comply with US consolidation rules. The course is designed for industry controllers, accountants, and auditors and finance professionals who want to keep up-to-date with developments that have occurred in the past 12 months and impending pronouncements.
CPE / CPD Accreditation
IASeminars 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. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Field of study: Accounting
ICAEW Partner in Learning
IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.
New York State Board of Public Accountancy
IASeminars is registered with the New York State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 002546. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
Texas State Board of Public Accountancy
IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
- Our Chicago seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered participants by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.
- Our London seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.
The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.
Kevin R Smith
Kevin R. Smith, Ph.D. is an Associate Professor of Accountancy in the Woodbury School of Business at Utah Valley University. Dr. Smith obtained his Ph.D. from the University of Arizona, and earned his Master of Accounting (MAcc) degree and Bachelor of Science in accounting degree from Brigham Young University. In addition to teaching at Utah Valley, Dr. Smith has taught accounting courses at the University of Kansas, the University of Arizona, and Brigham Young University. He has published multiple articles in academic, practitioner, and education journals, including the Journal of Business Finance & Accounting, the Chartered Accountants Journal, the Journal of Business and Accounting, Advances in Investment Analysis and Portfolio Management, and other journals.
To bring this course in-house please contact us and we will be pleased to assist
Select a start date for more details
23 Mar 2017 Chicago
- 2 days
- Course level:
- CPE / CPD:
- 16 hours
- Start date:
- 23 Mar 2017
- Start time:
- Finish date:
- 24 Mar 2017
- Finish time: