This session will focus on recent US GAAP standard setting activity. Topics covered will include lessons learned from the implementation of newly adopted accounting standards related to revenue recognition and leases, the expected impacts of CECL (ASU 2016-13), and updates to consolidation accounting (ASU 2018-17). Discussion will also highlight current topics of discussion at the FASB and potential accounting standards on the horizon.
Describe best practices observed by companies in addressing issues related to the new revenue recognition and lease accounting standards.
Provide attendees with an overview of the current expected credit loss model upon adoption of ASU 2016-13.
Discuss the impacts to private company consolidation accounting introduced by ASU 2018-17.
Outline recent standard setting activity at the FASB.