Webcast
The FASB Conceptual Framework
Demystify the FASB Conceptual Framework (Concepts Statement No. 8) and turn it into a practical playbook for defensible judgment under U.S. GAAP. Jeff Sailor, CPA, shows how to apply recognition vs. derecognition, measurement choices, qualitative characteristics, and disclosure principles with clear examples—and a bit of humor.
$98.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Basic
Format
Webcast
Course Description
The FASB Conceptual Framework is the playbook behind U.S. GAAP—shaping how standards are written and how professionals exercise judgment when the literature is silent or ambiguous. In this course, Jeff Sailor, CPA demystifies FASB’s Concepts Statement No. 8, translating its core ideas—objective of financial reporting, qualitative characteristics, elements, recognition and derecognition, measurement, presentation, and notes—into practical tools you can use to make, document, and defend accounting decisions.
Moving chapter by chapter, Jeff shows how to connect the framework to real-world issues: selecting a measurement basis, evaluating when an item meets recognition criteria, distinguishing elements (assets, liabilities, equity, income, and expenses), and crafting disclosures that serve users rather than clutter the notes. Expect clear explanations, concrete examples, and Jeff’s signature humor to keep you engaged while you sharpen the judgment calls auditors, controllers, and preparers face every day.
Learning Objectives
Upon successful completion of this course, the participant should be able to:
- Describe the structure and elements of the FASB Conceptual Framework
- Apply the primary qualitative characteristics
- Apply the requirements for recognition and derecognition
- Apply the concepts for measurement
- Describe the criteria for footnote disclosures
Course Specifics
WC1125440861
August 18, 2025
None
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
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software. Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights …
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