Course Description
This course was updated on 4/23/25.
The objective of this course is to inform the reader of the various changes affecting accounting and financial reporting, as well as a review and recall of existing accounting standards. Topics include: A summary of newly issued FASB statements; the new standard on the allowance for credit losses; post-implementation issues involving the lease standard; current developments affecting accounting and financial reporting including the impact of inflation and high interest rates; GAAP for income taxes, including the IRS Voluntary Disclosure Program (VDP) related to the Employee Retention Credit (ERC); Pass-Through Entity (PTE) tax; selected practice issues, and more.
