GOV1911. FASB Update: What's Now? What's New? What's Next? (Repeated in Session 37)

Track: 
NFP
Field of Study: 
Accounting
CPE Credit: 
2.0
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
Basic knowledge of auditing, accounting and/or compliance requirements for state and local government and/or not-for-profits. General experience auditing state and local governments and/or not-for-profits, including those engagements audited under GAGAS.

Monday, October 28, 2019
 
1:00PM-2:40PM

In this session, we'll discuss implementation matters for major standards affecting NFPs (Revenue Recognition, Grants and Contracts, Leases), including resources available, FAQs, and your own questions. We'll also cover other noteworthy recent ASUs (such as on collections and goodwill), and some significant projects in process (especially on the transition away from LIBOR as a reference rate).

Learning Objectives:
1. Obtain an understanding of key considerations in implementing the major standards on Revenue Recognition, Grants and Contracts, and Leases, and where to find resources available from the FASB and others. (Session 41 will feature more on Leases).
2. Develop a general understanding of recent FASB ASUs affecting NFPs.
3. Develop a general awareness of significant FASB projects in process.


SESSION SPEAKER(S)

CPA, CGMA
Assistant Director | Financial Accounting Standards Board (FASB)