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Course Details

Evaluating and Properly Disclosing FASB Accounting Standard Updates (ASUs) (Course Id 1983)

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Author : Kelen Camehl, CPA, MBA
Course Length : Pages: 16 ||| Review Questions: 3 ||| Final Exam Questions: 5
CPE Credits : 1.0
IRS Credits : 0
Price : $12.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1983

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 : 0
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 25-Mar-2022
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.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 1983

Keywords : Accounting, Evaluating, Properly, Disclosing, FASB, Accounting, Standard, Updates, ASUs, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you will be able to:
  • Identify standard elements included within each FASB ASU
  • Distinguish between different transition requirements
  • Recognize SEC disclosure requirements relating to pending ASUs
  • Identify best practices for effectively tracking ASUs
Course Contents :

Chapter 1 - Evaluating and Properly Disclosing FASB Accounting Standard Updates (ASUs)

Course Learning Objectives

Course Overview

Introduction

What is an ASU and What’s 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

CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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