FASB: Recent Developments


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

Advanced Preparation


WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Find this course for your license:

License or Certification