Financial Reporting Issues

Accounting Standard Setting

Course Overview
This course provides an overview of the accounting standard setting process. This includes a discussion of the FASB's role in the process, significant recent topics it has addressed, as well as the Conceptual Framework and the Codification. This course also discusses the various advisory groups to the FASB, how the SEC provides oversight over the process, as well as the organization responsible for issuing international accounting standards.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Recognize key principles and objectives of the accounting standard setting process
  • Differentiate between the various organizations involved in the standard setting process
  • Recognize significant recent accounting standard updates issued by the FASB
  • Identify characteristics of the Codification

Prerequisites/Advanced Preparation:


Speaker / Author:

Norman Strauss retired as a partner at Ernst & Young LLP in 2001 and then began his second career as E&Y’s Executive Professor in Residence at Baruch College in New York teaching contemporary accounting in the graduate school. He has recently retired from actively teaching but he will continue to chair Baruch’s annual Financial Reporting Conference which is one of the major accounting conferences in the US.
Norm has been E&Y’s National Director of Accounting Standards and a member of the firm’s Accounting and Auditing Committee. He also was Ernst & Young’s representative on the FASB’s Emerging Issues Task Force and the Financial Accounting Standards Advisory Council. He was Baruch’s and E&Y’s Representative on the Advisory Council for the International Accounting Standards Board. In addition, Norm has previously served as Chairman of the AICPA’s Accounting Standards Executive Committee (AcSEC) and as Chairman of the Audit Committee of the Federal Farm Credit Banks Funding Corporation.
Norm is also a member of the Financial Reporting Committee of the Institute of Management Accountants. He has an MBA and BBA from Baruch College. He is a frequent lecturer at various seminars, has chaired Baruch’s financial reporting conferences since inception in 2002, and has been published in professional journals including the Journal of Accountancy.


Price (USD)

Standard: $49.90


Course Code : 99STA01

Release Date : 04/26/2019
Expire Date : 04/26/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Basic
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Reporting Issues

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