What's Going on at the FASB
Monday, October 19, 2020
This course will cover the Accounting Standards Updates (ASUs) issued recently by the FASB as well as those that will be effective soon. The course starts with ASU 2020-05, which delays the effective dates of revenue recognition and leases. We then review the standards effective for 2020 for public entities and private entities to ensure that attendees are aware of what changes are coming to financial statements this year. We will then turn our attention to a more detailed review of ASU 2016-02 and discuss how to implement Topic 842, Leases. We close with a review of standards that are coming down the pike. This course is intended to keep you up to date with what is going on at the FASB and perhaps help you consider whether 2020 is a good opportunity to early adopt some standards that will reduce cost and complexity.
- Describe new ASUs issued by the FASB
- Identify the key financial reporting changes of the leases standards
- List standards that will be effective for 2020 calendar year ends
- Recognize standards that will be effective in the near future