Current Developments- Accounting and Financial Reporting 2021

  • Credits: 8
  • Format: Self-Study eBook
  • Field of Study: Accounting
  • Author/ Speaker: Steven C. Fustolo, CPA

Course ID: Advanced Preparation: Experience Level:
SF-203 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© April 2020 General understanding of U.S. GAAP eBook | Self-Study


The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance, leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The structure of the course is to encourage the reader to recall existing GAAP rules coupled with identifying, stating, and outlining rules related to new and proposed pronouncements. The course also has a discussion of accounting and financial reporting issues related to COVID-19.

Topics include:

  • Basic Concepts of ASU 2016-02
  • Definitions used in ASU 2016-02
  • Scope and Scope Exceptions
  • Identifying a Lease
  • Lessee Rules
  • Lessor Rules

Who Should Attend:

  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and approved with all state boards of accountancy and the following sponsorships: