- NY Credits : 12.0
- TX Credits : 12.0
The FASB issued 20 Accounting Standards Updates in 2016 and 14 in 2017 (through November). These amendments to the current U.S. GAAP standards impact various FASB Accounting Standards Codification (ASC) Topics. In order to stay on top of the rules, regulations and guidelines as pronounced, CPAs need to be aware of these changes. This basic course introduces these ASUs and is organized by FASB ASC Topic beginning with Topic 230, Statement of Cash Flows, through Topic 965, Health and Welfare Benefit Plans.
Upon successful completion of Accounting Standards Updates 2016 and 2017, the user should be able to:
identify the most recently issued FASB Accounting Standards Updates;
recognize the impact of the recently issued FASB Accounting Standards Updates on U.S. GAAP as codified into the FASB Accounting Standards Codification; and
determine the applicability of the FASB Accounting Standards Updates on certain transactions and reporting requirements.