FASB Accounting Standards Codification

Date: Thursday, December 3, 2009
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Thomas Hoey, Director of the FASB Codification and XBRL Projects - Thomas Hoey & Associations, LLC
Learning Objectives:
At the end of the presentation, the participant will be:
•informed of the effective dates of the FASB Accounting Standards Codification
•made aware of presentation considerations for referencing standards in disclosures, footnotes, work papers, letters, etc.
•able to consider updating your deliverables to include more "plain English" wording rather than using specific reference to standards
Field of Study: Accounting - Financial Statements and Reports
Program Level: Intermediate
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

After five years in the making, the FASB approved the FASB Accounting Standards Codification as the single source of authoritative GAAP as of July 1, 2009. The Codification is effective for annual or interim periods ending after September 15, 2009.

At that time, the FASB superseded all legacy accounting standards. The FASB developed the Codification as a result of a significant amount of user feedback for easier to use, topically-organized standards.

The Codification introduces an entirely new structure and numbering approach. This session will provide you with an introduction and walkthrough of the Codification structure, an update on timing, an overview of the approach to new standards, and related items to consider when preparing and auditing financial statements.

Presenter and Moderator Bios
Thomas Hoey, Director of the FASB Codification and XBRL Projects

Since completing the Codification architecture and design phase in September 2004, Thomas Hoey & Associates, LLC has been directing the FASB Codification and XBRL Projects. The Codification project involved two major components - the creation of the codification content and the development of the related research system.

Until 2002, Mr. Hoey was a partner with Arthur Andersen LLP and was responsible for directing Arthur Andersen’s global accounting research platform and its related external product, Accounting Research Manager.

Prior to directing the development of Arthur Andersen’s research platform, Mr. Hoey addressed technical accounting matters as a member of the firm’s national office and was previously a member of the firm’s audit practice. In 2002, Mr. Hoey helped coordinate the sale of the Accounting Research Manager business and technology to CCH and joined CCH as Managing Director of the Accounting Research Manager product line through early 2004.

Mr. Hoey attended Northern Illinois University and received an undergraduate degree in accounting and computer science and a masters degree in computer science. Mr. Hoey is a CPA and a member of the AICPA.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) 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 addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.