FMN Accounting  |  Format: Flash

Update on Accounting Issues: FASB, SEC and PCAOB

Course Overview
The regulators continue to be busy with more new standards coming out of the FASB, SEC and PCAOB. Laura Shiffman, a Practice Fellow with the Financial Executives International, provides an update on the new rules as well as their implications on companies. She reviews rate reform, accounting for income taxes, and goodwill and intangibles from the FASB; the definition of accelerated and large accelerated filers and amendments to both Rule 3-05 and Regulation S-K from the SEC; and auditing accounting estimates, the use of specialists, and the updated auditors� reporting model including the issuance of CAMS (Critical Audit Matters) from the PCAOB.

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

  • Recognize the key changes brought about by the FASB's exposure draft to propose relief related to rate reform;
  • Identify the issues that the FASB is evaluating related to its Invitation to Comment around goodwill and intangibles;
  • Recognize the implications of the amendment proposals issued by the SEC in 2019; and
  • Identify the feedback and reaction from preparers with regards to identification of critical audit matters.

    Catalog Number: FMN1328-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: FMN Online
    Advanced Preparation:
    Work experience in financial reporting or accounting, or an introductory course in accounting.
    Course Level: Update
    Field of Study: Accounting
    Content Partner: FMN Online
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Dec 10, 2019 / Jul 14, 2021