Courses Currently Available On Demand

The course will start off with a look at the Accounting Standards Updates (ASUs) issued by the FASB that will be effective in 2024 as well as those that may be great for early adoption. The course will also review year 2 issues in lease accounting including how to handle lease modifications. We'll then turn our attention from accounting to auditing, where we will cover the audit standards coming down the pike, including group audit and quality management. Upon completing this course, learners will be able to:

• Recognize changes to financial reporting effective in 2024
• Recall changes to the conceptual framework
• Identify the requirements for lease modification accounting
• Identify changes to the requirements for group audits
• Recall the impact of quality management on A&A practices

For many small businesses, the standards issued by the FASB may have little to no effect as they impact topics that do not reflect the type of transactions that these entities most frequently experience. This class will focus on the Accounting Standards Updates (ASUs) that are most likely to impact small businesses with a focus on ASUs initiated by the Private Company Council (PCC). We'll then look at alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs for entities who don't necessarily need to prepare GAAP financial statements but want to use accrual accounting. Finally, we will transition to audit standards that small business auditors will need to implement. Upon completing this course, learners will be able to:

• Recall ASUs impacting small businesses
• Identify reporting options for small entities other than GAAP
• Recognize the changes to quality required of small firms
• Recall the elements of the IAASB's LCE standard
• Identify the financial reporting impact of modification of lease contracts

This course begins with a look at the GASB standards effective this year, including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We'll include practical application of the topics in the form of case studies. Upon completing this course, learners will be able to:

• Recall the impact of GASB 100 and 101 on financial reporting for governments
• Recall the impact of standards effective in 2024

Environmental, Social and Governance (ESG) has become a hot topic among standard setters. This session will look at the work of the FASB, GASB, and AICPA in the areas of ESG. We'll also look at the types of engagements CPAs can provide to entities who want to have assurance around their ESG reporting. Upon completing this course, learners will be able to:

• Identify types of engagements CPAs can perform on ESG related items
• Recognize current projects of accounting standard setters

At its height, LIBOR was the benchmark for over US $350 trillion in financial contracts worldwide. Yet, due to concerns over the manipulation of the rate, standard setters determined that LIBOR should be discontinued. The global response to reference rate reform required financial reporting standard setters to provide practical expedients and exceptions to current modification guidance. This course will provide an overview of the standards issued (including amendments) from both the FASB and GASB to address the transition away from LIBOR. Upon completing this course, learners will be able to:

• Recall the optional expedients for entities as a result of reference rate reform

This updated course offers an in-depth look at the FASB leases standard (ASC 842), which requires organizations to recognize lease assets and liabilities on the balance sheet. This comprehensive course will cover recognition, measurement, presentation, and disclosure requirements while also focusing on a critical area of change, which is the proper identification of a lease using a principles-based approach. We will discuss implementation requirements from both the lessee and lessor accounting models. In addition, we explore a variety of scenarios, including short-term leases, purchase options, variable lease payments, and remeasurement. This course offers practical journal entry examples and lessons learned from implementation, while also exploring recently issued amendments to the lease accounting guidance. Upon completing this course, learners will be able to:

• Define a lease under the new leases standard
• Apply recognition and measurement requirements of the new leases standard
• Recognize the presentation and disclosure requirements of the new leases standar
• Prepare journal entries necessary to account for leases as both a lessee and lessor

The course will start with the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits. We will also review year two implications of the leases standard, including modification accounting. We will then switch our attention to the items coming down the pike, including a look at the projects identified by the FASB's Invitation to Comment: Agenda Consultation. Upon completing this course, learners will be able to:

• Identify the impact of ASUs that are effective in 2024 on financial reporting
• Recall changes to the conceptual framework
• Recognize the impact of the lease modification on financial reporting
• Identify FASB ASUs that will be effective after 2024
• Recognize the potential impact of key projects on the FASB agenda