In this session, we'll bring you up-to-date on the latest developments in GAAP that affect NFPs. We'll talk about the FASB's overall agenda, especially COVID-19-related activities and accounting issues. We'll explore implementation issues related to the new Leases standard (Topic 842; deeper dive in separate session) and other recent standards. And we'll discuss recent ASUs (especially on Reference Rate Reform) and current FASB projects (especially on Gifts-in-Kind, including an ASU expected to be issued this summer).
Develop a general understanding of the FASB's agenda priorities, especially those related to COVID-19, including where to find resources that the FASB has provided.
Develop an understanding of key aspects of recent ASUs and select FASB projects, and of key implementation issues with Topic 842 and other recent standards.