FASB Update
- September 22-23, 2010 — New York, NY Register Now!
- November 15-16, 2010 — Chicago, IL Register Now!
- December 1-2, 2010 — Orlando, FL Register Now!
- December 8-9, 2010 — Las Vegas, NV Register Now!
Conference Highlights
Complete, practical and up-to-date. Explore recent FASB accounting rules, including:
- FASB Movement toward IFRS and Principles Based Accounting
- Transfer of Financial Assets and Servicing Activities
- Noncontrolling Interests in Consolidated and Combined Financial Statements (FAS 160)
- Fair Value Measurements and Impairments
- Revenue Recognition
- Changing Fromat for the Statement of Comprehensive Income
- New Disclosure Requirements
- Other Convergence Projects with IFRS and Other Projects of US GAAP
Optional Workshops on Accounting for Leases and IFRS
SAVE YOUR COMPANY TIME, MONEY, AND THE POTENTIAL FOR FINES AND SERIOUS LOSS!
While we never lacked for changes in financial reporting standards, the FASB convergence project with IFRS is causing a staggering number of standards to change at an unprecedented pace. Companies need to prepare themselves for one of the most rapid and profound transformations they have seen in decades.
Agenda
| Times | Topics | |
|---|---|---|
| 9:00 am - 10:15 am |
FASB CONCEPTUAL FRAMEWORK PROJECT AND SEC ISSUES
The FASB has a major conceptual framework project underway jointly with the IASB.
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| 10:15am - 10:30am | Coffee Break | |
| 10:30am - 12:00pm |
FINANCIAL ASSETS AND LIABILITIES
The FASB has moved toward including more fair values in financial statements and providing options for fair value accounting for financial assets and liabilities. In this session you will learn about the definition of fair values, options for reporting fair values, and fair value methods.
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| 12:00pm - 1:00pm |
LUNCHEON-An opportunity to network with your course leader and peers. |
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| 1:00pm - 2:00pm |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Learn what constitutes a derivative, what types of hedges are identified in ASC 815 and the related accounting for derivatives and hedging activities. Also includes coverage of ASC 815-15-25 on valuing hybrid and financial instruments, as well as current proposals for international convergence and simplification. Learn also about the changes in accounting for hedging instruments and hedged items. |
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| 2:00pm - 2:45pm |
TRANSFERS OF FINANCIAL ASSETS AND DISCLOSURES
The FASB has made dramatic changes in the accounting for transfers of financial assets in ASC 860. The changes in measurement and the interim disclosures prior to the effect of these changes will be covered. The transfer of financial assets may also impact designation as a servicing agent and the accounting under ASC 860. |
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| 2:45pm - 3:00pm | Coffee Break | |
| 3:00pm - 4:00pm |
ACCOUNTING FOR RESTRUCTURINGS AND IMPAIRMENTS
Impairments are a major issue during any economic downturn. Learn about the different types of impairment measures. ASC 310, ASC 320, ASC 350, ASC 360, and ASC 420 contain the accounting and disclosures for restructurings, impairments, and discontinued operations. Learn about:
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| 4:00pm - 5:15pm |
VARIABLE INTEREST ENTITIES
FASB has issued multiple interpretations and standards concerning the consolidation of entities where an entity gains control by other voting control or control by contract which are codified in various places. In addition, the determination of a primary beneficiary is changing with the codification of FAS 167. In the process, the FASB changed the notion from an SPE to a VIE. Learn about:
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| Times | Topics | |
|---|---|---|
| 8:30am - 10:00am |
REVENUE RECOGNITION ISSUES
With an increasing number of restatements and SEC enforcement actions related to errors in revenue recognition, and FASB's major project to modify these standards, revenue recognition has become the focus of much attention. Learn about issues such as the reporting under ASC 605, the impact of the Uniform Commercial Code and side agreements on revenue recognition.
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| 10:00am - 10:15am |
Coffee Break |
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| 10:15am - 11:00am | REVENUE RECOGNITION ISSUES (continued) | |
| 11:00am - 11:30am |
FINANCIAL STATEMENT PRESENTATION
The FASB, in an international convergence project with the IASB, is proposing major changes in financial statement presentation. Learn about the current proposals and the current movement toward the new financial statement presentation. The Exposure Draft on the statement of comprehensive income will be covered together with other proposed changes in the financial statements required under GAAP. |
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| 11:30am - 12:00pm |
OTHER INITIATIVES INCLUDING SEC AND PCAOB
There are other projects on the horizon which could significantly affect financial reporting practices in the future. In this session, you will hear an overview of some of the key ones including:
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| 12:00pm - 1:00pm |
LUNCHEON - For workshop attendees only. |