Selected Accounting Standards Updates
The objective of this course is to address selected recently issued accounting standards updates (ASUs). Topics include reviewing the new ASUs on accounting for joint ventures, accounting for crypto assets, income tax disclosures, and disaggregation of expenses. This course uses materials entitled, Selected Accounting Standards Updates (ASUs)- 2025 Version, authored by Steven C. Fustolo CPA.
This course is included in our Accounting and Auditing CPE Bundle.
Course Information
Course No. F230
Format: Online pdf (65 pages). Printed book available.
Prerequisites: General understanding of compilation and review and auditing standards
Advance Preparation:None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Accounting: Technical
Course expiration:Â Â You have one year from date of purchase to complete the course.
Course Revision Date: February 2025
Objectives
After reading the course material, you will be able to:
- Review how to account for a joint venture
- Identify attributes of a joint venture
- Identify how to measure a crypto asset
- Review how to record a crypto asset on the balance sheet and income statement
- Recall some of the new disclosures for income taxes required by ASU 2023-09
- Review the bases that can be used to disclose disaggregation of expenses required by ASU 2024-03
Discussion Topics:
ASU 2023-05: Business Combinations— Joint Venture Formations (Subtopic 805-60)- Recognition and Initial Measurement
ASU 2023-08: Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets
ASU 2023-09: Income Taxes (Topic 740)-Improvements to Income Tax Disclosures
ASU 2024-03: Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)- Disaggregation of Income Statement Expenses
ASU 2025-01: Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)- Clarifying the Effective Date
Accounting Standards Updates (ASUs)
