Private Company Simplified GAAP Alternatives
Overview
The FASB formed the Private Company Council to provide certain alternatives in U.S. GAAP that are only available to nonpublic business entities, with limited exceptions for certain nonprofits. This course will provide insight into when adopting the accounting and financial reporting alternatives would be to the advantage of private companies.
Delivery Method: Individual webcast
CPE Credit: Accounting
Program Level: Basic
Highlights
- Guidance, related to "plain vanilla" interest rate swaps that convert variable into fixed rate debt and other derivatives
- Guidance related to amortization and impairment of goodwill
- Guidance related to separately recognizing intangible assets from goodwill in a business combination
- Guidance related to lease accounting and revenue recognition options
Prerequisites
None
Designed For
Public and industry accountants responsible for monitoring fair presentation of financial statements
Objectives
- List the recognition, measurement, presentation and disclosure options only available to nonpublic business entities in U.S. GAAP
- Explain the benefits of adopting the U.S. GAAP alternatives, and the most advantageous time to do so
- Apply illustrative examples for how financial statements look different before and after application of the allowable simplifications in accordance with U.S. GAAP
Preparation
None
Leader(s):
Leader Bios
Jennifer Louis, Emergent Solutions Group, LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of
technical and "soft skills" topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group,
LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training.
She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as
Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting
firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional
career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor.
Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her
husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two
young adult boys.
Non-Member Price $109.00
Member Price $79.00