Instructor
Financial reporting for revenue and leases is about to change radically. Faced with the challenges, costs and disruption of implementing the new standards, many CPAs are questioning whether GAAP is worthwhile for their clients. This course will guide CPAs through choices and solutions to ensure cost effective relevant reporting.
For the webcast version, click here.
-Identify who is required to follow GAAP and why?
-Evaluate private company reporting frameworks; cash and tax basis and AICPA's FRF for SMEs.
-Understand how ASU 2014-09 changes revenue recognition, measurement and disclosure
-Learn how the balance sheet treatment of leases will alter financial statement numbers, ratios and loan covenants.
-Become familiar with ASU 2016-01's right-of-use, present value approach to capitalizing leases.
-Consider the system and independence challenges involved with standard implementation.
-Consider how an Alternate Financial Framework may provide cost effective reporting.
-Recognize the advantages and challenges that non-GAAP reporting brings.
Accounting, Auditing and Assurance
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056
Get Directions
Preparers and accountants in public practice and accountants in industry who need to implement the revenue and lease standards in a convenient and cost effective way. CPAs who wish to help clients select the reporting alternative that best meets their needs.