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Surgent's Recently Issued U.S. GAAP - What Small & Mid-Size Nonpublic Entity CPAs Need to Know & Do
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New Accounting Standards Updates (ASUs) related to U.S. 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 will focus on explaining the most significant U.S. GAAP updates that are relevant to small- and medium-size private entities.

7/20/2016
When: Wednesday, July 20, 2016
8:00 AM - 10:00 AM
Where: Webinar/Webcast
United States
Contact: April Deneault
801-466-8022


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Acronym GAAP
CPE 2 hours
Category
Accounting
Level Basic
Vendor Surgent
Who should attend

Accountants both in public and private practice responsible for preparing or attesting on financial statements and disclosures for nonpublic business entities

Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$89
Non-Member: N/A
$109

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description:
New Accounting Standards Updates (ASUs) related to U.S. 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 will focus on explaining the most significant U.S. GAAP updates that are relevant to small- and medium-size private entities.

Major Topics:

  • Private Company Council (PCC) influenced U.S. GAAP alternatives, such as common control leasing arrangements, interest rate swaps and goodwill
  • What nonpublic reporting entities need to do now related to ASU 2014-09 Revenue Recognition
  • The impact of the new ASU 2016-02 Leases, and whether there is anything entities need to do now to prepare for implementation
  • Highlights of other ASUs with open effective dates for nonpublic business entities that have the greatest likelihood of changing the financial statements of smaller entities
  • Significant pending FASB activity related to smaller private businesses

Objectives:

  • Describe the important accounting policy elections to consider related to Private Company Council (PCC) U.S. GAAP alternatives available to nonpublic entities
  • Discuss the highlights of the ASUs with outstanding effective dates for nonpublic business entities, focusing on the changes most relevant to small and medium-sized nonpublic business entities
  • Explain the possible impact of pending FASB activity most relevant to private companies

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