Topics covered include:
Relevant accounting standards affecting 2017 calendar year end financial statements;
Implementation considerations of revenue recognition and lease standards;
Private Company Council standards and application;
Adoption and disclosure requirements for 2017 year-end financial statements.
Upon completing this course, you should be able to:
Recognize required GAAP reporting requirements for your company or clients;
Properly apply new accounting standards;
Strategize for implantation of revenue recognition and lease standards;
Identify areas where Private Company Council standards can be applied;
Recognize and apply the amendments to various ASU Topics;
Identify how companies should prepare pro forma financial statements to prepare for implementation of ASU No. 2016-02 (Topic 842) Leases;
Differentiate which ASU updates do not include new disclosure requirements;
Recognize how changes affect a company when implementing a new standard.