2022 GAAP Update
Author: Lewis R. Fisher
||2 hours for CPAs
Join Lewis Fisher as he walks through the updates to US GAAP impacting the 2022 calendar year end reporting period. This session will be unique as we look sequentially at the accounting standard updates versus a topical approach. To ensure all recent pronouncements are captured, we will revisit standards issued in late 2021, to ensure you are alert to changes that could impact your reporting. Discussion will be given to existing standards originating from the FASB’s Private Company Council and how these can streamline reporting requirements.
Publication Date: May 2022
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.
- Accounting for Cryptocurrencies
- Recent SEC Proposals
- PPP Loan (and Forgiveness) Accounting
- Employee Retention Credit
- Fair Value of Equity Securities — Proposed Changes
- 2022, 2021 and 2020 Standards Updates
- Recognize required GAAP reporting requirements for your company or clients
- Identify proper accounting treatment for cryptocurrencies
- Recognize how to properly apply new accounting standards
- Describe how to strategize for implantation of the new lease standard
- Identify areas where Private Company Council standards can be applied
- Recognize which one of the recent SEC proposals discussed requires a company to provide more detailed and more frequent disclosures about purchases
- Differentiate how various ASUs apply
- Describe which ASC topic ASU 2021-05 amends the lease classification requirements for lessors to align them with practice
NASBA Field of Study
Accounting (2 hours)
Basic understanding of GAAP.