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Course
Description: This course
is a continuation of FASB Update for Industry Part 1, which stops at
SFAS 157 Fair Value, and is designed for industry accountants who are
interested in staying abreast of accounting issues and financial
accounting standards (SFAS) that may affect their companies.
This course will cover the following
accounting pronouncements and exposures drafts:
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SFAS 141R Business Combinations. This statement was revised in
December 2007. We will focus on the major changes to the original
pronouncement.
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SFAS 158 Employer’s Accounting for Defined Pension and Other
Postretirement Plans
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SFAS 160 Noncontrolling Interests in Consolidated Financial
Statements
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SFAS 162 The Hierarchy of Generally Accepted Accounting Principles
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Exposure Draft Disclosure of Certain Loss Contingencies
-
Update to the Conceptual Framework
The
seminar will be highly interactive and use practical exercises with
examples to demonstrate how these statements would be applied in a
real-world setting.
Pre-requisites: This is an advanced level course.
Participants must have taken FASB Update for Industry Part 1 to
be able to register for this course.
Who should attend: Vice-presidents or finance directors;
controllers; accounting managers and supervisors; CPAs; CMAs; financial
accountants; financial analysts; cost accountants; and cost analysts.
Course
Objectives: Upon the completion of this seminar you will be
able to:
- Discuss the most recent standards
and exposure drafts most applicable to manufacturing and service
organizations.
- Apply these standards in a real-world setting.
- Explain the proposed changes to the conceptual framework and its
impact on future accounting standards.
Course content:
- Business Combinations (SFAS 141R)
- Employer’s Accounting for Defined Pension and
Other Postretirement Plans (SFAS 158)
- Noncontrolling Interests in Consolidated
Financial Statements (SFAS 160)
- The Hierarchy of Generally Accepted Accounting
Principles (SFAS 162)
- Disclosure of Certain Loss Contingencies
(Exposure Draft)
- Update to the Conceptual Framework
Instructional
method used: Instructor-led
Recommended CPE: 3.5
credit hours
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