This course provides an overview of the processes involved in understanding, evaluating, and properly disclosing the FASB Accounting Standard Updates (ASUs). This includes a look at the key elements included within each ASU, how companies should consider the impacts from the change, as well as how to properly disclose these impacts (if known) within their notes to their financial statements. This course also outlines an effective five-step process for monitoring ASUs, from initial release to adoption.
ASU Definition. Where to Find ASUs. What’s Included in ASUs. Main Provisions and How They Differ from Current U. S. GAAP. Transition Requirements. FASB Technical Agenda. Determining Applicability/Materiality. Evaluating Options. Assess Disclosures and Benchmark. Tacking, Updating, and Adopting.
CPAs, CFOs, controllers, financial professionals, and auditors.
Identify standard elements included within each FASB ASU. Distinguish between different transition requirements. Recognize SEC disclosure requirements relating to pending ASUs. Identify best practices for effectively tracking ASUs.
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00