In the past 40 years, the accounting profession has experienced significant changes, including the issuance of over 250 accounting standards and interpretations. A Stroll Down GAAP Memory Lane takes a refreshing look back at many of them including why certain standards were issued, as well as the controversies, if any, around their issuance. This course reviews accounting guidance from way back to the Accounting Research Bulletins from the 1950s up to the present standards being issued this year. Join Rod Redding as he conducts a lively discussion, examines actual corporate financial statements, and provides problem solving techniques and tips.
Upon successful completion of this course, participants will be able to:
- Trace the history of setting accounting standards in the United States
- Understand the conceptual framework of accounting and the accounting hierarchy
- Discuss the controversies surrounding topics in accounting and the reasons for why many of the standards of accounting were issued
- Recall and understand the guidance for various accounting standards
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