FMN Accounting

FMN - 2021/February, Seg 3 - Chairman of the FASB: A Career in the Making

On July 1, 2020, Richard Jones began his term as the eighth chairman of FASB, a very challenging role in and of itself, and starting in the midst of a global pandemic was certainly a curveball. In his remarks at the AICPA conference on SEC and PCAOB developments, in reference to standard setting, Rich quoted former Mets manager, Casey Stengel, who once said "Sometimes it's easier to understand things than to figure them out." Rich Jones discusses his new role, and the steps FASB is taking to make it easier for stakeholders, particularly private companies and nonprofit organizations to navigate standards during the pandemic and beyond. He also gives us an overview of the post-implementation review of standards on revenue recognition, leases, CECL and the Board’s goodwill simplification project.

Learning Objectives:

  • Identify the measures FASB took during the pandemic and how they are currently helping stakeholders;
  • Recognize the steps involved in setting a standard and how FASB decides on future projects;
  • Identify the actions taken by FASB on the three major standards currently under review; and
  • Understand how FASB conducts post-implementation reviews.

Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.

Speaker / Author:

Richard Jones, Chairman of FASB


Price (USD)

Standard: $69.90


Course Code : FMN1386-FM

Release Date : 02/06/2021
Expire Date : 09/14/2022
Credits :
CPE 2.00
QAS 2.00

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

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