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Understanding the GAAP Codification Update

Webinar: ID# 1012946
Recorded CD
Qty:
Understanding the GAAP Codification Update
About This Course:
The official launch of the FASB Codification began on July 1, 2009. On that date the codification became the official single source of authoritative nongovernmental U.S. GAAP. The codification will be effective for interim and annual periods ending after September 15, 2009.

The codification will supersede existing FASB, AICPA, EITF and related literature, which means there will no longer be a GAAP hierarchy. Instead, there will only be one level of authoritative GAAP, excluding the guidance issued by the Securities and Exchange Commission, all other literature will be nonauthoritative. Preparers and auditors of financial reports must be aware of and prepared for the transition to the new codification.

This live webinar will give you the knowledge and skills needed to thoroughly understand and confidently navigate and conduct research using the new FASB Accounting Standards Codification.

Learning Objectives:

  • You will be able to describe accounting standards codification structure.
  • You will be able to discuss navigating the codification.
    You will be able to review the research process using codification.
  • You will be able to explain the role of FASB.

Agenda:

New System: Codification

  • History
  • Purpose and Content
  • Advantages

Accounting Standards Codification Structure

  • Topics
  • Subtopics
  • Sections
  • Subsections
  • Paragraphs

Traditional Research vs. Codification Research System

  • Keyword Search
  • Navigating the Codification

Example Case Study

  • Research Process Using Codification

Future Standards

  • Incorporated Into Codification
  • Role of FASB

The Presenters:

Caroline "Carie" O. Ford, Baylor University

  • Currently teaches undergraduate level "Accounting Research and Communication" course at Baylor University
  • Taught the codification to more than 90 accounting majors at Baylor University since the codification's trial period began January 2008
  • More than 11 years of college level teaching experience
  • Co-wrote two articles related to codification in the Journal of Accountancy (December 2008) and Today's CPA (November/December 2008)
  • Ph.D. degree, Texas Tech University
  • M.B.A. and B.B.A. degrees, Baylor University

Who Should Attend?

This live audio conference is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, enrolled agents and attorneys.

Continuing Education Credits

Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit. Only registered and paid attendees will receive continuing education credit. Certificates of Completion are provided to each registered attendee. Your certificate will be emailed to you within two weeks following completion of the program.

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Understanding the GAAP Codification Update
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