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2018 Current Developments — Accounting and Financial Reporting

Author: Steven C. Fustolo, CPA


The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance, leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The structure of the course is to encourage the reader to recall existing GAAP rules coupled with identifying, stating and outlining rules related to new and proposed pronouncements.

With this 16-hour course you will:

  • Get a 320-page PDF manual
  • Identify some of the 12 recommended principles for the Comprehensive Business Reporting Model
  • Recall the definition of free cash flow
  • Recognize some of the key ratios used to analyze working capital
  • Identify some of the symptoms of inefficiently managed working capital
  • Identify some of the key differences in the clawback provisions found in Sarbanes-Oxley and Dodd-Frank
  • Recognize one of the characteristics of a multi-employer pension plan
  • Identify some of the key benefits and disadvantages of the principles-based system
  • Recall one of the reasons why U.S. convergence with international standards has not occurred
  • Identify a key change made to lease accounting by newly issued ASU 2016-02
  • Recognize the general structure of the FASB Accounting Standards Codification (ASC)
  • Recognize some of the differences between IFRS for SMEs and IFRS
  • Recognize how to account for deferred income taxes under the Tax Cuts and Jobs Act
  • Identify how to account for deferred tax assets and liabilities when converting from S to C corporation
  • Recognize how to present deferred income taxes on the balance sheet under ASU 2015-17
  • Identify some unusual transactions and how they are recorded on the statement of cash flows
  • Recall the new impairment test for goodwill under ASU 2017-04
  • Recognize how to account for restricted cash on the statement of cash flows
  • Recognize the classification of certain cash flow transactions addressed by ASU 2016-15
  • Identify the expense account to which amortization of debt issuance costs should be recorded
  • Recall how to value certain inventories under ASU 2015-11
  • Identify one of the criteria that must be met to treat a hosting arrangement as internal-use software
  • Identify the expense account to which amortization of debt issuance costs should be recorded

 

Designation  CPE Hours
CPA 16 Accounting

Course level: Overview
General understanding of U.S. GAAP is required.

A CPA or PA who is subject to the 24-hour A&A CPE requirement must also take a 4-hour fraud class each licensing period — beginning with the January 1, 2015, license renewal period. 

Purchase Spidell's 4-hour fraud course.

Want to order by phone? Call us at: (714) 776-7850

 


Spidell Publishing, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This self-study is designed to meet the requirements for 16 hours of continuing education for the California Board of Accountancy. Overview Level. Field of Study: Accounting. Delivery Method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. Prerequisite: General understanding of U.S. GAAP.

Spidell Hours
CPA-Acctng 16

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Availability: In Stock
Price: $160.00

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