Ray's Review of Accounting Standards for Industry (111171)

Description:

To provide a comprehensive review of current accounting standards which impact practitioners in industry. Recent auditing pronouncements and related developments which affect CPAs in industry will also be addressed. While the course will review many of the major pronouncements of the past ten years, coverage and emphasis will be customized to the interests and needs of the participants.

Objectives:

• Discuss the impact of newly-issued FASB standards for fair-value accounting, business combinations, tax positions, and stock-based compensation.
• Explore changes to the reporting environment involving internal control, affecting both public and non-public companies.
• Receive an update on how SAS No. 99 has affected fraud prevention and detection.
• Obtain a broad understanding of accounting issues that affect practitioners in industry.
• Understand how SEC, AcSEC, EITF, ASB, and IASB are adapting to demands for timely, accurate financial information.

Major Topics:

• Overview of Accounting Standard Setting
• Business Combinations & Noncontrolling Interest: SFAS No. 141(R), No. 142 & No. 160
• Fair Value Accounting: SFAS No. 157 & No. 159
• A Practical Guide to Impairment
• Accounting for Loans & Investments: The Impairment Issue
• Contingencies (SFAS No. 5) & Related Parties (SFAS No. 57)
• Income Reporting Earnings per share Comprehensive income: FASB No. 130
• Stock-Based Compensation
• International Harmonization of Accounting Standards
• Special Purpose Entities & Guarantees -- Applying FIN No. 46R
• The Statement of Cash Flows
• Auditing Standards Refresher SAS No. 99 & Fraud Audit committees Internal control

Who Should Attend:

CPAs in industry who prepare and analyze financial reports. CPAs in practice with industry clients who need an overview of current accounting standards will also find the course to be beneficial.