Overview
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.
Learning Objectives
After completing this course, students will be able to:
- identify an area of accounting affected by the definition of a business
- recognize elements of a business
- recognize a factor that indicates there is a trade or business for tax purposes
- recognize the definition of a public business entity
- recognize some of the criteria that determine whether a contract is or is not a lease
- recall how to classify deferred tax assets and liabilities on the balance sheet
Designed For
CPAs, EAs, and other tax professionals