The convergence process is beginning to wind down. Both FASB and the IASB have issued new revenue recognition standards and lease accounting changes will soon follow. These changes will impact both public and private companies. Whether or not IFRS becomes the basis for U.S. accounting standards, the convergence and private company accounting changes impact activities well beyond financial reporting. Awareness of IFRS adoption efforts by the SEC is one thing; understanding how FASB’s convergence project and private company reporting can affect your company is a very different issue. You cannot afford to miss this critical, entertaining and interactive course.
Course ID: PCA
Private Company Accounting: New Directions, New Challenges
- To understand how convergence with IFRS will affect private company accounting.
- The major convergence elements: – Revenue recognition – Lease accounting – Financial instruments reporting – Other Comprehensive Income presentation
- How convergence will change your basic financial statement presentation
- Reporting alternatives for private companies
- The critical operations issues driven by these comprehensive changes
- Ten action items for you to take today as you prepare for the unpredictable times ahead Cases and Group Discussion: This seminar includes six group exercises.