- Credits: 3
- Format: OnDemand® Webinar
- Field of Study: Accounting | Auditing
- Author/Speaker: Michael Morgan
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|© April 2020||Basic Understanding of Accountancy||Live Webinar|
This course is designed to help Understand the purpose of ASU 2016-14, describe the history and changes that brought forth the publication of ASU 2016-14, and understand the effective date of ASU 2016-14. ASU 2016-14 was issued as a result of FASB 117 and follows prior work set forth by FASB 117. Let’s back up – before FASB 117 the only guidance for NFPs was a mish-mash of several AICPA audit guides. Which caused Major differences in NFP financial reporting, lack of comparability, the difficulty for creditors, donors, and users to fully understand NFP. This led to the creation of FASB 117.
Wait, we're talking about ASU 2016-14. Yes, there is a history as to why we are at ASU 2016-14, but to fully understand it we have to look at the history, what has changed and where we are now. this course will provide some needed background for the folks, but more importantly, provide a solid foundation for the implementation of ASU 2016-14. Let's get started.
Who Should Attend:
- All Certified Public Accountants (CPAs)