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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 20 ||| Word Count: 7495 ||| Review Questions: 3 ||| Final Exam Questions: 5 |
CPE Credits: |
1.0 |
IRS Credits: |
0 |
Price: |
$12.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course guides professionals through understanding, evaluating, and properly disclosing the impacts of new FASB Accounting Standard Updates.
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Frequently Asked Questions: |
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Description: |
This course provides an overview of the processes involved in understanding, evaluating, and properly disclosing Accounting Standard Updates (ASUs) issued by the FASB. This includes a look at the key elements included within each ASU, how companies should consider the impacts from the change, as well as how to properly disclose these impacts (if known) within their notes to their financial statements. This course also outlines an effective five-step process for monitoring ASUs, from initial release to adoption. |
Usage Rank: |
10000 |
Release: |
2022 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Disclosure Requirements - Rev Rec, Leases, Business Combinations, CECL and Segments (Course Id 2013)
Internal: Current Developments as of 2024 - Accounting and Financial Reporting (Course Id 2255)
External: Accounting Standards Updates Issued
External: Financial Accounting Standards Board (FASB): Definition and How It Works
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
22-Aug-2025 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Evaluating and Properly Disclosing FASB Accounting Standard Updates (ASUs) - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives
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Course Contents: |
Chapter 1 - Evaluating and Properly Disclosing FASB Accounting Standard Updates (ASUs) Course Learning Objectives Course Overview Introduction What is an ASU and Whats Included? Where Do I Find the ASUs? What is Included in Each ASU? Basis for Conclusions Other Helpful Resources (i.e., Firm Interpretations) Review Questions Preparing for and Implementing Amendments from ASUs Step 1 Stay Informed Step 2 Determine Applicability/Materiality Step 3 Evaluate Options Step 4 Assess Disclosures and Benchmark Step 5 Track, Update, and Adopt Review Questions Glossary of Key Terms |
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