How does the guidance in the new financial instruments standards differ from current GAAP? This course addresses that question by examining the core principles of the new standards. The FASB’s financial instruments projects reconsider classification and measurement of financial instruments, as well as issues related to impairment of financial instruments. This course will teach accountants in public practice and industry the background, purpose, and main provisions of the new financial instruments standards. Specifically, the course will address transition guidance, disclosure requirements, and implementation guidance.
Course ID: FIIN
Financial Instruments: Mastering the New FASB Requirements
- Identify changes to FASB ASC 825, Financial Instruments, as a result of the new financial instrument standards on classification and measurement and impairment.
- Recall key points related to the simplification of accounting requirements
- Recall significant points related to the single credit loss model for financial assets for the recognition of losses
- Identify related disclosure requirements
- Transition and implementation guidance
- Classification of Financial Instruments
- Measurement of financial instruments
- Impairment of financial assets