The focus on revisions to the form and content of primary financial statements is likely to increase in 2020. This is a result of the FASB completion of priority projects and the continued interest in the Financial Performance Reporting research project.. Stay current and plan for these changes. The reformatting of basic financial statements (now referred to as Financial Performance Reporting-FPR) will generate significant measurement and system modifications. Stay current on financial statement preparation and analysis and begin to plan for changes in financial performance reporting. Commit to becoming a subject matter expert in this area of change. Formerly titled:Reformatted Financial Statements 2015: Is the Endgame in Sight?
Status of financial reporting changes, Content review of proposed financial statement changes, Impact of Financial Performance Reporting (FPR) changes on business operations, Planning an implementation timetable.
Knowledge of financial reporting
CPAs and financial professionals.
Recall the evolution of the convergence process. Recognize updates on the status of the IFRS Adoption, Convergence and FPR projects. Identify in detail the content of proposed reformatted financial statements. Recognize how the FPR project is a business model transformation. Identify tools to create your own FPR roadmap for action.
William O’Brien is a Lecturer in the Accounting and Finance Department at San Jose State University. He received his B.S. in economics from Santa Clara University (1970) and his M.B.A. from Pepperdine University (1979). He is a CPA licensed in California and a member of the American Institute of CPA’s and the California Society of CPA’s. Prior to joining the Santa Clara faculty in 1992, he spent over twenty years in public accounting and in various corporate and entrepreneurial settings in the dynamic Silicon Valley region of Northern California.
Mr. O’Brien is an internationally recognized consultant, author and lecturer in the fields of corporate planning, financial management, financial statement analysis and performance measurement. He has been a frequent speaker at professional seminars since 1979 and in 1994 was awarded the “Instructor Excellence” Award by the California CPA Education Foundation.
Active in the San Jose State University community, Mr. O’Brien is a co-chair of the Silicon Valley Financial Management Institute. He has also served on the boards of numerous private organizations in Santa Clara County.
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