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The Private Company Council Influence U.S. GAAP -- Answering the Question of When to Adopt or Not Ad
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The Private Company Council (PCC) was formed to advise the FASB on exceptions and modifications within U.S. GAAP appropriate for private business entities. These new Accounting Standards Updates (ASUs) are optional for adoption for qualifying private business entities. This course will provide insight into important considerations for those responsible for the preparation and fair presentation of financial statements when making the decision about whether to adopt the PCC alternatives to full U.

5/21/2015
When: 5/21/2015
11:00 AM - 1:00 PM
Where: Webcast/Webinar
Presenter: Jen Louis, CPA | Judy O'Dell, CPA, CVA
Contact: April Deneault
801-834-6634

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The Private Company Council (PCC) was formed to advise the FASB on exceptions and modifications within U.S. GAAP appropriate for private business entities. These new Accounting Standards Updates (ASUs) are optional for adoption for qualifying private business entities. This course will provide insight into important considerations for those responsible for the preparation and fair presentation of financial statements when making the decision about whether to adopt the PCC alternatives to full U.S. GAAP, or possibly adopting a special purpose framework in lieu of U.S. GAAP.

 

Objectives:

* Explain the requirements of the PCC-influenced updates to U.S. GAAP * Describe the circumstances under which it may be best for a private company to adopt the PCC alternatives within U.S. GAAP * Discuss when a special purpose framework may be better suited for a particular private business entity to adopt as its applicable financial reporting framework


 

Major Subjects:

* The mission of the Private Company Council (PCC) * Explanation of recently-issued U.S. GAAP updates influenced by the PCC, focused on the important financial statement and disclosure impacts * Alternatives to U.S. GAAP available to small and mid-size private companies, such as the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) and the International Financial Reporting Framework for Small- and Medium-Sized Entities (IFRS for SMEs) * Key considerations for deciding what applicable financial reporting framework, and significant accounting policy elections to make


 

Designed For:

Accountants responsible for the preparation and fair presentation of financial statements for private business entities, and those in public practice providing non-attest and attest services for private business entities

 

Prerequisite: None

 

Advanced Prep: None

  

Speaker: Jen Louis, CPA | Judy O'Dell, CPA, CVA

Vendor: Surgent McCoy

Field of Study: Accounting & Auditing

Level: Basic

CPE Credit: 2 Hours

Acronym: PCGP

 

Registration Fees:

$89

Click here to register

 


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