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Good
subject content and explanations done at a level that is understandable.
Tim Lai, Manager, Fixed Assets, Infonet Corporation, El Segundo, CA


To register online, click the city below.
To register by fax, click here.
For hotel information, click here.
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November 24
New York, NY
Marriott East Side
December 17
San Francisco, CA
The Fairmont Hotel San Francisco
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The Practical FASB: Top 10 FASB Pronouncements
for SEC Reporting Professional -- and More!
One day
8 CPE Credits
AVERAGE
CLASS SIZE
APPROXIMATES 30
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This course provides SEC reporting professionals and others with the FASB knowledge they need to perform and excel in today’s complex accounting world. You will learn about the core FASB issues important for public companies and obtain an update of recent FASB pronouncements and current agenda projects.
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Guidance for the most frequent SEC comment and restatement areas
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Major changes to purchase accounting
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The latest EITF and FASB developments
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The FASB agenda
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Practical examples and real-life implementation issues
...and much, much more!
COURSE
SCHEDULE
8 - 8:30 a.m. — Registration
and Continental Breakfast
8:30 - 8:45 a.m. — Introduction and course overview
8:45 - 9:15 – The roles of the SEC and the FASB in standard setting
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The SEC’s role – statutory authority and interpretive authority
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The FASB’s role – independent standard setter, accepted by SEC
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Role of FASB standards in S-X
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Sources, SFAS’s, FIN’s, EITF’s, DIG’s, FSP’s, etc
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Key SEC focus areas in financial reporting
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International Financial Reporting Standards issues and the future
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Summary of recent FASB Pronouncements
9:15 - 11:00 – Key FASB Standards in SEC Reporting
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A review of the 10 most frequently mentioned SFAS standards in SEC comment letters, credit to Audit Analytics
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Frequent SEC comments about financial statement issues
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Classification
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GAAP issues
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Examples of companies that have restated, excerpts of 10-K/A’s
11:00 - Noon – Key new FASB pronouncements – Statements 141R and 160
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Business combinations
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Definition of a business
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Date of acquisition issues
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Transaction costs recorded as expenses
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No accrual for exit costs
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Pre-acquisition contingencies and contingent consideration
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Other changes to purchase accounting
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Non-controlling interest accounting
Noon to 1:00 – Lunch
1:00 - 1:30 – Other recent FASB pronouncements
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SFAS 157 – Fair Value Measurement
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SFAS 161 – Derivative Disclosures
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Other SFAS’s, FIN’s and FSP’s
1:30 - 2:15 – Key reporting issues in asset impairment
2:15 - 3:00 – Key reporting issues in the statement of cash flows
3:00 - 3:45 – Key issues in EPS calculations
3:45 - 4:00 – Why are segments always an issue?
4:00 - 4:30 – Current developments and plans at the FASB – What is on the Horizon?
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The FASB Agenda
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Summary of major projects underway
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Leases
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Revenue recognition
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Other projects
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Expected timing of major projects
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International harmonization issues and the future of the FASB
Learning
Objective: To
provide an understanding of accounting standard setting, recent pronouncements
and expectations from the FASB, AICPA and SEC.
Delivery
Method: Group-Live
Prerequisites/Advance Preparation:
None
Program Level:
Overview to Intermediate
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