FASB Accounting Standards Update

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • MAFF
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Overview and background
    4 mins
  • Amendments
    9 mins
  • Option to apply expedients
    20 mins
  • Scope and scope exceptions
    37 mins
  • accounting alternative for a goodwill impairment triggering event evaluation
    48 mins
  • Other transactions
    62 mins

Course Description

Sometimes it is a little difficult to keep up with the amendments in accounting standards issued by FASB.

New, more complex accounting issues and disclosures create challenges for today’s busy financial executives. 

The CPE course is designed to keep you up to date on the recent activity of the Financial Accounting Standards Board (FASB), this online CPE course will summarize recently issued Accounting Standards Updates (ASUs) issued by the FASB in 2021 year to date. The continuing education course will discuss the main provisions of the ASU, application guidance, and information on transition and the effective dates for the new ASU. This CPE course is the place to go to stay current on all FASB-related matters.

Major topics covered in this online CPE webinar:

  • Update 2021-05—Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments
  • Update 2021-04—Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force)
  • Update 2021-03—Intangibles—Goodwill and Other (Topic 350): Accounting Alternative for Evaluating Triggering Events
  • Update 2021-02—Franchisors—Revenue from Contracts with Customers (Subtopic 952-606): Practical Expedient
  • Update 2021-01—Reference Rate Reform (Topic 848): Scope

This CPE course examines the rule makers' current activities and thinking. It also shows you the expected impact and what you need to do to stay compliant.

Click here for CPE courses on Accounting and Auditing

Learning Objectives

  • To examine the background and scope of each topic.
  • To determine the specific items targeted by each amendment.
  • To describe the applicable new accounting treatment for each amendment.
  • To determine the effects of the amendments.
  • To review additional disclosure requirements.

Recommended For

  • This online CPE course is recommended for CPAs, CMAs, CIAs, Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • Certified Management Accountant (CMA)
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Financial Reporting
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Accounts
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 2 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CPE Credit for Master Analyst In Financial Forensics (MAFF)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

3.9

14 Ratings

Excellent

4

Very Good

6

Average

2

Poor

2

Terrible

0

HK

Harpreet Kaur, CPA (US)

Aug 3rd, 2022

An efficient and effective way to complete CPE

WS

Wesley Sito, CPA (US)

Jan 16th, 2022

Great FASB standards update overview.

RG

Rebecca Groves, CPA (US)

Jul 2nd, 2022

The instructor prefaced the course by saying it would be dry, but it was worse than expected.

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