• Course Information

    Title: Accounting: FASB Updates for 2018
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A018-0251
    CPE Credits: 16.0
    Price: $99.95
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Description

Description:
The purpose 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, current and pending developments, practice issues, and more.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: Basic understanding of GAAP

Advanced Preparation: None

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Course Details

Author: Steven C. Fustolo

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 04/06/2018

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Objectives

Objectives:
Chapter 1:     ASU 2017-01 Business Combinations (Topic 805) Clarifying the Definition of a Business
1. Identify an area of accounting affected by the definition of a business
2. Recognize elements of a business
3. Identify the new definition of a business in ASU 2017-01
4. Recall an example of a process as used in the definition of a business
5. Recognize Steps 1 and 2 of determining a business in ASU 2017-01
6. Identify a real estate transaction that might qualify as a trade or business in IRC 197
7. Recognize a factor that indicates there is a trade or business for tax purposes

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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