In view of the COVID-19 situation, selected ISCA’s CPE courses/sessions will be conducting via Live Webinar.

Please do check the details before confirmation your registration for the course/session.

Programme Objective

This seminar provides an update on the latest changes in the accounting standards and interpretations under US GAAP. All 2018 and 2019 updates to the accounting standards will be discussed in the due course of the training. Additionally, the course will illustrate the basic concepts of US GAAP accounting for all standards involved and provide a comprehensive update on the new standards issued and effective for financial statements 2019 onwards.

Programme Outline

 

 

Issued In 2019

• Update 2019-12—Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
• Update 2019-10—Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates
• Update 2019-05—Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief
• Update 2019-08—Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer
• Update 2019-06—Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities
      

Issued In 2018

• Update 2018-19—Codification Improvements to Topic 326, Financial Instruments—Credit Losses
• Update 2018-18—Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606
• Update 2018-17—Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities
• Update 2018-16—Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes
• Update 2018-15—Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)
• Update 2018-14—Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans
• Update 2018-13—Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement
• Update 2018-12—Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts
• Update 2018-09—Codification Improvements
  [Revised 07/18/18—Wording corrected in summary to reflect actual Codification wording.] 
• Update 2018-07—Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting
• Update 2018-05—Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118  (SEC Update)
• Update 2018-04—Investments—Debt Securities (Topic 320) and Regulated Operations (Topic 980): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273  (SEC Update)
• Update 2018-03—Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
• Update 2018-02—Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Hot Topic: Leases (Changes and improvements 2017-2019)

• Update 2019-01—Leases (Topic 842): Codification Improvements
• Update 2018-20—Leases (Topic 842): Narrow-Scope Improvements for Lessors
• Update 2018-11—Leases (Topic 842): Targeted Improvements
• Update 2018-10—Codification Improvements to Topic 842, Leases
• Update 2018-01—Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842

Training Methodology

Lecture style, with Exercises / Case Studies

Closing Date for Registration
1 week before programme or until full enrolment.
 

Intended For

Chief Financial Officers, Financial Controllers, Finance Managers, Auditors, Accountants and those involved in the preparation and interpretation of financial statements. Other users of financial information will also find the seminar beneficial.

Programme Facilitator(s)