Course ID: IAAU

Practical Annual Accounting Updates for Industry

This course provides a practical overview of the most important issues facing most companies and their accountants. The focus is on explaining the basis behind major accounting and financial reporting issues and trends in plain language, enabling professionals to understand the most important aspects of relevant generally accepted accounting principles, and why any planned or potential changes are coming down the pike.

Learning Objectives

  • Describe “hot topics” in accounting and financial reporting
  • Explain the major implementation considerations for transitioning to new accounting standards
  • Discuss practical examples of implementing changing technical, professional and relevant regulatory requirements

Major Topics

  • The latest FASB standard-setting activity, including significant projects on the horizon
  • Anticipated effects of implementing the new revenue recognition model
  • Understanding impact of changing lease accounting
  • The impact of new financial instruments accounting rules as it relates to entities not in specialized industries such as financial institutions and insurance
  • How changes in long-term debt classification rules could impact your disclosures, including going concern uncertainty disclosures
  • When and why you should implement the private company GAAP alternatives, including FRF for SMEs
  • Other accounting and financial reporting matters that should be on your radar

Who Should Attend

Public and industry accountants at all levels interested in remaining current on accounting and financial reporting requirements

Fields of Study



Knowledge of currently effective generally accepted accounting principles


Business Learning Institute

CPE Credits




This course is available for your group as:


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