FMN Accounting

FMN - 2019/July, Seg.1 - Implementing a New Standard: What You Need to Know

Course Overview
In recent years, the FASB has been extremely busy with the issuance of new standards, in particular the Big Three: revenue recognition, lease accounting and CECL. As a result, accountants have had to spend an inordinate amount of time on implementation of these new accounting standards. However, there is much you can do to make the process go smoothly; this applies to all standards, whether issued by the FASB, SEC or IASB. Sean Prince, with the National Office of Crowe LLP, introduces a framework that can be applied when implementing any accounting standard. He reviews the Three C's to a successful outcome - completeness, clarity and control.

Learning Objectives:

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

  • Recognize what companies should do when implementing a new accounting standard;
  • Identify the Three C's companies should follow in order to implement a new accounting standard smoothly;
  • Recognize what is meant by appropriate implementation; and
  • Identify the things companies should not do when implementing a new accounting standard.

Prerequisites/Advanced Preparation:

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

Speaker / Author:

FMN Online
SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.


Price (USD)

Standard: $69.90


Course Code : FMN1308-FM

Release Date : 07/10/2019
Expire Date : 02/14/2021
Credits :
CPE 2.00
QAS 2.00

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

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