Sustainability Accounting: The Expansion of Corporate Reporting + A Final Look at the New Leasing Standard for Private Companies
6 Credits: AccountingEvent Date: July 8, 2021 7:30 am
Availability: 15 in stock
6 Credits: Accounting
Event Date: July 8, 2021 7:30 am
There is a growing number of corporations and stakeholders of those corporations that believe that, to optimize long run growth, nonfinancial information needs to be reported by corporations. Sustainability accounting is attempting to meet that need by reporting on environmental, social, and governmental factors affecting the corporation’s ability to sustain financial growth over time. In the United States, the Sustainability Accounting Standards Board (SASB) was started while the world has seen the development of the Global Reporting Initiative (GRI). In November 2018, the SASB published 77 standards. The process for establishing the standards, the actual standards, the 11 industries, and the concept of materiality and the Materiality Map used by the SASB will be discussed. The GRI standards will be contrasted to the SASB. A US corporation sustainability report will be reviewed.
2021 is the effective date for nonpublic companies to implement the new leasing standard. A brief overview of the leasing standard; but the primary emphasis is on the implementation of the standard. The two acceptable transition methods along with the three practical expedients for transitions will presented along with recommendations on which to adopt. Example problems on each of the transition methods will be worked. New disclosure requirements will be demonstrated by reviewing the disclosures of public companies that have already implemented the guidance.
Upon successful completion of this course, participants will be able to:
- Discuss the growing interest in sustainability accounting and the opposing views of its objective
- Explain the SASB process for developing sustainability standards, industry classifications, and establishing which are standards might have a materiality impact on an industry
- Differentiate how the Global Reporting Initiative contrasts to the SASB approach
- Explain the contents of a selected US corporation sustainability report
- Identify in general how an investor might use the information from a sustainability report
- Understand the FASB reasons for issuing new leasing guidance
- Understand the alternative ways to transition and the practical expedients available
- Prepare the journal entries for lessee and lessor under the alternative approaches
- Identify the leasing disclosures for a private entity
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Meet The Experts
Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. He has over 30 years’ experience as a professor at universities such as the University of North Carolina, the University of Utah, Georgetown University, and Gettysburg College. He also has taught internationally at Kenyatta University in Kenya and the American University of Sharjah in the United Arab Emirates. Three different universities have given Dr. Redding awards for excellence in teaching. Dr. Redding holds a CPA certificate but has elected inactive …