Webcast
Private Company FASB GAAP Alternatives
Evaluate accounting alternatives and practical expedients that can simplify private company financial reporting. Jennifer F. Louis, CPA, reviews eligibility, election requirements, and reporting implications across key accounting areas.
$98.00
Webcasts are available for viewing Monday – Friday, 8am – 8pm ET,
and Saturday & Sunday, 10am – 6pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Intermediate
Format
Webcast
Course Description
Private company accounting alternatives can reduce reporting complexity, but choosing them requires careful consideration of eligibility, financial statement user needs, and future business plans. In this CPE webcast, Jennifer F. Louis, CPA, explains when and why to adopt available FASB GAAP simplifications and how those elections affect recognition, measurement, presentation, and disclosure.
Topics include credit loss estimation for receivables, simplified hedge accounting for interest rate swaps, goodwill and acquired intangible assets, stock-based compensation valuation, common control consolidation, and lease accounting expedients. Practical examples illustrate qualifying criteria, documentation requirements, and reporting implications. The CPE course also compares selected GAAP requirements with the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).
Learning Objectives
- Identify eligibility requirements and adoption considerations for private company GAAP alternatives, including the implications of becoming a public business entity.
- Describe the practical expedient and accounting policy election for estimating credit losses on qualifying receivables and contract assets.
- Identify qualifying criteria, measurement options, and documentation requirements for simplified hedge accounting.
- Describe accounting alternatives for goodwill amortization, impairment assessment, and recognition of acquired intangible assets.
- Identify requirements for using the valuation practical expedient for equity-classified share-based awards.
- Determine when the common control alternative to variable interest entity consolidation applies and identify required disclosures.
- Recognize available lease accounting expedients, including discount rate elections and relief for common control arrangements.
- Distinguish selected accounting treatments under FASB GAAP from those under the AICPA’s FRF for SMEs.
Course Specifics
WC1126493170
October 15, 2026
Basic knowledge of financial accounting and U.S. GAAP.
None
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Jennifer F. Louis, CPA has over 25 years experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003 she founded Emergent Solutions Group, which is dedicated to meeting organization’s professional training needs on a project or part-time basis. Jennifer serves a wide variety of clients, including public accounting firms, state CPA societies, private industry corporations, and public sector agencies.Previously Jennifer served as the Director of Audit Product Development at Surgent Professional Education for three years. Prior to that, Jennifer was Executive Vice President/Director of …
Webcast
