Published: January, 2022
The past few years have seen the issuance of significant new accounting standards by the FASB, which to a certain degree will have a long-lasting effect on virtually all companies. Many of these new standards have required significant resources and sometimes lengthy implementation times.
The new guidance on revenue (ASC 606), leases (ASC 842), and financial instruments (ASCs 321, 326, and 815) can be complex to apply and may have a significant impact on companies. Collectively, we call these the FASB’s Big 3 new standards.
This CPE accounting course focuses on the key requirements of FASB’s Big 3 new standards.
Even though some of the Accounting Standards Updates (ASUs) which drove these changes have been out for years, many entities have still yet to adopt all the requirements.
In this CPE webinar, we will do a detailed review of the new accounting and disclosure requirements of ASC 842, which will see virtually all leases being recorded by companies. It will cover all aspects of ASC 842 from the perspectives of both the lessor and lessee, including lease classification, liability calculation, and initial and subsequent recording and transition. While the implementation date of ASC 606 has passed for most companies, many are still wrestling with mastering the finer points of the FASB’s new revenue recognition guidance and fine-tuning their disclosures.
You do not want to be surprised when it comes to these new standards. With all this change going on it is important to stay current on the latest technical guidance and to be prepared for the impact of its adoption and this CPE text-based course is the place to go for that understanding.
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.
Advisor, Kelen Camehl CPA
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Jan 25th, 2022
I was unable to locate the download section, so was unable to download the course materials.
Jun 28th, 2022
This was a concise course which is what helps me to stay focused on the material. I like that all 3 pronouncements were included.