The FASB releases many accounting standard updates every year, with effective dates that can range from one to several years. This course will provide executive summary highlights of recently issued U.S. GAAP applicable to small- or mid-size private companies, to enable accountants the basis for segregating what changes are relevant to a specific reporting entity’s circumstances.
Course ID: RIGP
Recently Issued U.S. GAAP Applicable to Small-or Mid-Size Private Companies – Is it Relevant to My Financial Statements?
- Describe recently issued U.S. GAAP accounting standards updates
- Explain how recently issued U.S. GAAP is most relevant to private companies
- Discuss how to differentiate what is applicable to a reporting entity’s specific circumstances
- Overview of accounting standards updates with open effective dates, which are most applicable to nonpublic entities
- Emphasis on the changing accounting and financial reporting standards that are likely to have the greatest impact on private company financial statements