Annual FASB Update and Review

Overview

You could pay $0 for this course!
This course provides a detailed discussion on the key topics related to financial reporting, though in a summarized format. The course will focus on recent ASUs issued by the FASB, including the 12 ASUs issued in 2025, with a concentration on issues of greatest significance to most accounting practitioners. The greatest emphasis on the ASUs will focus on those effective in 2025 and 2026. Specifically, the course will review ASUs addressing financial instruments, disaggregated expenses, government grants, credit losses under ASC 326, and the final stages of the ASC 842 post-implementation review (PIR) report findings. Other hot-button accounting issues, such as what is on the FASB's technical agenda, are also discussed. This course is the place to go for a succinct but thorough update on the big topics impacting financial accounting and reporting.

Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-13036. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Private company standard-setting activities Recent FASB Accounting Standards Updates (ASUs), including those addressing financial instruments, credit losses under ASC 326, government grants, and business combinations Non-GAAP financial measures ASC 842, Leases ASC 842 final PIR report findings

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry, as well as controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Objectives

Be aware of recent private company standard-setting activities Review the latest FASB Accounting Standards Updates (ASUs) Recall key provisions of recently issued FASB Updates Recall common non-GAAP financial measures and requirements surrounding their disclosure Understand the key provisions and updates to Topic 842, Leases, and the results of the final stage of the FASB’s PIR process, including its final report on the topic