General Session (Onsite and Online)

CU2203. Accounting/FASB Update Q&A

Bring your questions for the continued discussion of what is new in the world of financial reporting for credit unions. During the past year, the FASB has focused on addressing priority issues identified by stakeholders—including the credit union industry--as part of its 2021 agenda consultation project. For CECL, we will cover FASB’s final standard on loan modifications and vintage disclosures, and its project on acquired financial assets. What are current FASB projects relevant to credit unions and is up next for the FASB? This session will cover new standards applicable to credit unions, what is forthcoming from the FASB and other practice issues. Join us to hear perspectives from the FASB staff, the NCUA chief accountant and the AICPA’s Depository Institutions Expert Panel (DIEP).


Learning Objectives:

  • Analyze progress on priority topics identified by stakeholders during the FASB’s 2021 agenda consultation process
  • Determine next steps in the FASB’s agenda and impact on credit unions
  • Apply the latest developments on accounting and financial reporting for credit unions
Date/Time
–
CPE Credits
0.5
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
3-5 years in the profession
Advanced Preparation
None
Speakers
Image of Sydney Garmong

Sydney Garmong

CPA, CGMA
Partner, National Office
Crowe LLP
Image of Chris McGrath

Chris McGrath

Acting Chief Accountant
National Credit Union Administration
Image of Jeffrey Mechanick

Jeffrey Mechanick

CPA, CGMA
Assistant Director
Financial Accounting Standards Board