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ASCPA'S Accounting Standards Update 2021

Code: ASCU-OL 4.0 CPE Credits


COURSE OVERVIEW After completing this course, you should be able to understand the basic accounting issues related to each of the following areas: Section 1 Recently-issued FASB literature. Section 2 Private Company Council and Other Accounting Alternatives 2-a ASU 2013-12: Definition of a Public Business Entity 2-b ASU 2014-02: Accounting Alternative for Goodwill 2-c ASU 2014-03: Simplified Hedged Accounting Approach 2-d ASU 2018-17: Targeted Improvements to Related Party Guidance for Variable Interest Entities 2-e ASU 2014-18: Accounting Alternative for Identifiable Intangible Assets 2-f ASU 2019-06: Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities 2-g ASU 2021-03 Accounting Alternative for Triggering Events Section 3 Select 2019 Accounting Standards Updates 3-a ASU 2019-02: Improvements to Accounting for Costs of Films and License Agreements for Program Materials 3-b ASU 2019-03: Updating the Definition of Collections 3-c ASU 2019-08: Share-Based Consideration Payable to a Customer 3-d ASU 2019-12: Simplifying the Accounting for Income Taxes Section 4 Select 2016 Accounting Standards Updates 4-a ASU 2016-02: Leases 4-aa Other Lease Related ASUs: 2018-10, 2018-11, 2018-20, 2019-1 4-b ASU 2016-13: Measuring Credit Losses 4-bb ASU 2018-19: Codification Improvements Related to Credit Losses 4-bbb ASU 2019-05: Target Transition Relief Section 5 Select 2017 Accounting Standards Updates 5-a ASU 2017-04: Step 2 of Goodwill Test Eliminated 5-b ASU 2017-08: Premium Amortization on Callable Debt 5-c ASU 2017-10: Service Concession Arrangements 5-d ASU 2017-11: Addressing Narrow Issues: Distinguishing Liabilities from Equity 5-e ASU 2017-12: Targeted Improvements for Hedging Activities Section 6 Select 2018 Accounting Standards Updates 6-a ASU 2018-01: Practical Expedient Related to Land Easement 6-b ASU 2018-07: Codification Improvements in the Share- Based Payments to Nonemployee Accounting Guidance 6-c ASU 2018-08: Clarifying Guidance for Contributions Received or Paid 6-d ASU 2018-12: Targeted Improvements to the Accounting for Long Duration Contracts 6-e ASU 2018-13: Fair Value Measurement 6-f ASU 2018-14: Compensation – Retirement Benefits – Defined Benefit Plans 6-g ASU 2018-15: Intangibles – Goodwill and Other – Internal-Use Software 6-h ASU 2018-16: Derivatives and Hedging 6-i ASU 2018-18: Collaborative Arrangements Section 7 Select 2014 Accounting Standards Updates 7-a ASU 2014-09: Revenue Recognition (Topic 606) 7-aa Joint Transition Resource Group and Other Revenue Recognition Related ASUs Section 8 2020 Accounting Standards Updates 8-a ASU 2021-01: Interactions Between Topics 321, 323, and 815 8-b ASU 2021-02: SEC Amendments (SAB No. 119) 8-c ASU 2021-03: Codification Improvements 8-d ASU 2021-04: Effects of Rate Reference Reform 8-e ASU 2021-05: Effective Dates for Topics 606 and 842 8-f ASU 2021-06: Instruments and Contracts in an Entity’s Own Equity 8-g ASU 2021-07: Contributed Nonfinancial Assets 8-h ASU 2021-08: Clarification Related to Callable Debt Security 8-i ASU 2021-09: SEC Amendments (Release No. 33-10762) 8-j ASU 2021-10: Narrow Scope Improvements 8-k ASU 2021-11: Effective Date Related to Long Duration Contracts Section 9 2021 Accounting Standards Update 9-a ASU 2021-01: Scope Clarification for Rate Reference Reform 9-b ASU 2021-02: Practical Expedient for Franchisors


Steve Grice

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