International Financial Reporting Standards for Small and Medium Sized Entities (IFRS for SME)
Date: Thursday, October 29, 2009Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenter: Russ Wasson, Director of Tax, Finance and Accounting Policy , National Rural Electric Co-op Assoc.
Moderator:
Learning Objectives:
To facilitate private cooperatives in the United States understanding of this new form of GAAP and to assist them as they begin the analysis as to whether the IFRS SME is suitable for their cooperative.
Field of Study: Accounting
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): ** For those members of NRECA, [Electric Co-Ops currently not a member of NSAC], a promotional code is required to be entered on the Registration Form to take advantage of this CLN at the discounted rate of $63.00.**Otherwise, no advanced preparation or prerequisites are required for this course.
Course Description
This CLN covers an overview of the new International Financial Reporting Standards for Small and Medium Size Entities including most cooperatives. The IFRS SME is now GAAP in the United States and available for use in general purpose financial statements by private companies. In addition to the overview, the CLN will examine the specific accounting and disclosures for hedge accounting, pension accounting and the agricultural industries.
Presenter and Moderator Bios
Presenter: Russ Wasson, Director of Tax, Finance and Accounting Policy , National Rural Electric Co-op Assoc.
Russ Wasson, Director of Tax, Finance and Accounting Policy with the National Rural Electric Cooperative Association received his Bachelor of Science degree in accounting from the University of Arkansas at Little Rock in 1980 and after graduation went to work for Arthur Young & Co. in New Orleans. He became a CPA in Louisiana in 1980. After two years with Arthur Young, Russ went to work for Ernst & Whinney in Baton Rouge. One year later, he was hired by his client, Cajun Electric Power Cooperative, as their first tax manager. Russ worked at Cajun from 1983 until their assets were sold to an affiliate of XCEL Energy of Minneapolis in 2000. At the time of his promotion to Vice President and Corporate Controller, Russ had forty four individuals in his division. At the conclusion of the Cajun bankruptcy, his division had decreased to a total staff of twenty one. Rather than go to work for NRG, the entity that acquired the Cajun assets, Russ started a consulting firm that provided consulting services to cooperatives and an RTO. He eventually went into partnership with Tom Strait. Russ and Tom provided consulting services to cooperatives as well as other nonpublic utilities. In 2001, Russ began teaching at Penn State’s Advanced School of Power Engineering. Russ started at NRECA on January 10, 2005. In addition to his tax, accounting and finance duties at NRECA, Russ is a member of the NRECA restructure and renewables groups, the NRECA corporate governance task force, the NRECA climate change task force and occasionally devotes time to proceedings at the FERC. In addition, Russ is participating in the Financial Accounting Foundation strategic focus group on the future direction of the FASB. Russ and his wife Diane are the proud parents of two daughters that live in Florida and New York.
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.