Overview
Review the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits, as well as the year two implications of the leases standard, including modification accounting. Discuss the items coming down the pike, including a look at the projects identified by the FASB's Invitation to Comment: Agenda Consultation.
Objectives
- Identify the impact of ASUs that are effective in 2024 on financial reporting
'- Recall changes to the conceptual framework
- Describe the impact of the lease modification on financial reporting
- Identify FASB ASUs that will be effective after 2024