This course will look at the recent activities of FASB. We’ll cover standards effective in the current year as well as those that will be effective in the future. We’ll then switch gears and discuss standards issued by the Auditing Standards Board and the Accounting & Review Services Committees of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way.

Key focus areas include:

• Recently issued Accounting Standard Updates (ASUs)
• Leases
• Financial instruments
• The new auditor’s report (SAS 134)
• Employee Benefit Plan Audits (SAS 136)
• Materiality