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The amount of change in the accounting profession is staggering, making it tough for the average CPA to keep up. This course will get you up to date with the latest information coming from the FASB.
In this course, Jeff Sailor will bring his truly unique presentation style to cover the most important topics you need to know. He will cover present the latest GAAP pronouncements, along with his signature video parodies, which are designed to keep you awake and reinforce the material.
Upon successful completion of this course, the participant should be able to:
- Apply the most pervasive accounting updates issued by the FASB
- Apply the new provisions for Credit Losses
- Apply the classification criteria to determine whether a lease is a finance or operating lease for a lessee
- Apply the classification criteria to determine whether a lease is a sales type, direct financing or operating lease for a lessor
- Apply the lease standard for a finance lease
- Apply the lease standard for an operating lease
- Describe potential pitfalls related to the new standard
- Describe alternatives to the lease standard
- Describe the evolution of the revenue standard
- Apply the five-point framework for revenue recognition
- Identify various specialty areas for revenue recognition
- Apply the revenue framework to basic business models
- Identify the changes for not-for-profit accounting under GAAP
- Describe the basics of the narrow scope GAAP updates
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