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ADDRESS: 901 Dulaney Valley Road, Suite 800
Towson, MD 21204
PHONE: 888-481-3500
FOLLOW BLI:
Private Company FASB GAAP Alternative When & Why Should Companies Adopt the SimplificationsCOURSE ID: PCGP
DESCRIPTION

he FASB formed the Private Company Council to provide certain alternatives in U.S. GAAP that are only available to nonpublic business entities. This course will provide insight into when adopting the accounting and financial reporting alternatives would be to the advantage of private companies.

DESIGNED FOR: Public and industry accountants responsible for monitoring fair presentation of financial statementsFIELD OF STUDY: AccountingLEVEL: BasicPREREQUISITES: NoneCOURSE PRODUCER: Business Learning InstituteCREDITS: 2.0OBJECTIVES:
  • Describe 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
HIGHLIGHTS:

* Entities permitted to adopt the U.S. GAAP simplified alternatives
* ASU 2014-03, related to “plain vanilla” interest rate swaps that convert variable into fixed rate debt
* ASU 2014-02, related to amortization and impairment of goodwill
* ASU 2014-18, related to separately recognizing intangible assets from goodwill in a business combination
* ASU 2014-07, related to not consolidating variable interest entities in common control leasing arrangements

Download the 2016 Business Learning Institute Course Catalog DOWNLOAD PDF
Business Learning Institute - Course Catalog
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