FASB Big 3 - What you Need to Know About Rev Rec, Leases, and Credit LossesCode: 23-FASBBIG3

Price: $59.00
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Course Details

85 pages

Course description and objectives:

In the past few years, the FASB has released several significant accounting standards which have brought about sometimes sweeping changes to U.S. GAAP.  Many of these new standards have required significant resources and sometimes lengthy implementation times.  This course focuses on the key requirements from what is commonly referred to as the “Big 3”.  This includes the new standards related to revenue recognition, leases, and credit losses on financial instruments.  Even though some of the Accounting Standards Updates (ASUs) which drove these changes have been out for years, many entities have still yet to adopt all the requirements.       

Course Objectives:

  •          List the five steps involved in the new revenue recognition model

  •          Recognize the considerations involved in identifying whether a contract exists

  •          Identify the considerations involved with measuring the transaction price

  •          Recognize the steps involved in allocating the transaction price to performance obligations

  •          Identify the key provisions as it relates to the new credit losses standard

  •          Recognize the credit loss measurement requirements for assets measured at amortized cost

  •          Recognize the credit loss measurement requirements for available-for-sale debt securities

  •          Identify the financial statement disclosure requirements related to credit losses

  •          Identify the effective date and transition requirements for the new credit loss standard



Presentation Method:    Self-Study


Category:  Accounting

CPE credit:  5 Hours

Program Level:  Update

Prerequisites:  None

Advance Preparation:  None

Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase

For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.

American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.   Complaints regarding registered sponsors may be addressed to:  National Registry of CPE Sponsors, 150 Fourth Ave. North, Nashville, TN 37219-2417.  Web site:  www.nasba.org

NASBA Sponsor number 108096


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