August 29, 2018


In-Person

Alabama Society of CPAs
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056


8 Total CPE Credits

product-artwork-661013

Implementing FASB's Revenue and Leasing Standards in Private Companies: GAAP vs. Alternate Reporting Frameworks

  • Instructor

    Ray Thompson

Learning Objectives

-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.  

Major Topics

Accounting, Auditing and Assurance

CPE Credits Available

8
Total CPE
8
Accounting & Auditing

Alabama Society of CPAs

1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

Get Directions

Things to Know About This Course

Course Level

  • Update

Professional Area of Focus

  • A & A

Prerequisites

 

Advanced Preparation

None

Intended Audience

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.

Provider

Business Learning Institute

This event has ended.