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Private Company Simplified GAAP Alternatives


Total Credits: 2 including 2 Accounting - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Industry Institute |  Accounting and Auditing |  Yellow Book
Faculty:
Jennifer Louis, CPA
Course Levels:
Basic
Duration:
2 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

The FASB formed the Private Company Council to provide certain alternatives in U.S. GAAP that are only available to nonpublic business entities, with limited exceptions for certain nonprofits. This course will provide insight into when adopting the accounting and financial reporting alternatives would be to the advantage of private companies.

Basic Course Information

Learning Objectives
  • List the recognition, measurement, presentation and disclosure options only available to nonpublic business entities in U.S. GAAP
  • Explain the benefits of adopting the U.S. GAAP alternatives, and the most advantageous time to do so
  • Apply illustrative examples for how financial statements look different before and after application of the allowable simplifications in accordance with U.S. GAAP

Major Subjects
  • Guidance, related to "plain vanilla" interest rate swaps that convert variable into fixed rate debt and other derivatives
  • Guidance related to amortization and impairment of goodwill
  • Guidance related to separately recognizing intangible assets from goodwill in a business combination
  • Guidance related to lease accounting and revenue recognition options

Course Materials

Faculty

Jennifer Louis, CPA's Profile

Jennifer Louis, CPA Related Seminars and Products

President

EMERGENT SOLUTIONS GROUP


Jennifer has over 25 years experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success.  In 2003 she founded Emergent Solutions Group, which is dedicated to meeting organization’s professional training needs on a project or part-time basis.  Jennifer serves a wide variety of clients, including public accounting firms, state CPA societies, private industry corporations, and public sector agencies.Previously Jennifer served as the Director of Audit Product Development at Surgent Professional Education for three years.  Prior to that, Jennifer was Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and audit process consulting firm later acquired by Thomson Reuters.  Over her six years at AuditWatch, Jennifer served many roles.  She began her career at AuditWatch as Vice President of Product Development.   Jennifer also served as an instructor and consultant for the firm’s Audit Productivity Improvement Program (a comprehensive program enabling accounting firms to enhance audit quality and improve audit efficiency), as well as various other training courses.  Later, Jennifer was primarily responsible for working with clients to design high-caliber, customized training programs.  She led the Training Services Division, which includes AuditWatch University (“core-level” staff training for new hires to managers) and related offerings.  She also co-authored the Guide to Value-Added Auditing (Thomson/Practitioners Publishing Company, Fort Worth, TX, July 2001).

Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP.  While at AARP she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and trainings.

Jennifer was also an Audit Manager at Deloitte, in Washington, DC.  During her five years with Deloitte, she was a frequent local and national instructor.  Jennifer also served as an instructor for the firm’s national “Train the Trainers” program. 

Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting.  She is currently a member of the American Institute of Certified Public Accountants (AICPA) and is licensed to practice accounting in the Commonwealth of Virginia and North Carolina.Contact Jennifer via email at jlouis@emergentgroup.net, or via LinkedIn


Dates

Tue, May 06, 2025 - 11:00am to 12:48pm PDT
Fri, May 16, 2025 - 01:00pm to 02:48pm PDT
Thu, Jun 05, 2025 - 07:00am to 08:48am PDT
Sat, Jun 21, 2025 - 09:00am to 10:48am PDT
Thu, Jun 26, 2025 - 04:00pm to 05:48pm PDT
Mon, Jul 14, 2025 - 01:00pm to 02:48pm PDT
Thu, Jul 31, 2025 - 07:00am to 08:48am PDT
Fri, Aug 01, 2025 - 09:00am to 10:48am PDT
Sat, Aug 16, 2025 - 11:00am to 12:48pm PDT
Thu, Sep 11, 2025 - 01:00pm to 02:48pm PDT
Thu, Sep 25, 2025 - 07:00am to 08:48am PDT
Wed, Oct 01, 2025 - 09:00am to 10:48am PDT
Thu, Oct 16, 2025 - 04:00pm to 05:48pm PDT
Thu, Nov 13, 2025 - 01:00pm to 02:48pm PST
Sat, Nov 29, 2025 - 07:00am to 08:48am PST
Tue, Dec 02, 2025 - 09:00am to 10:48am PST
Sat, Dec 13, 2025 - 11:00am to 12:48pm PST
Mon, Dec 22, 2025 - 01:00pm to 02:48pm PST
Fri, Jan 09, 2026 - 07:00am to 08:48am PST
Thu, Jan 22, 2026 - 09:00am to 10:48am PST
Tue, Feb 17, 2026 - 04:00pm to 05:48pm PST
Fri, Feb 27, 2026 - 01:00pm to 02:48pm PST
Sat, Mar 07, 2026 - 07:00am to 08:48am PST
Tue, Mar 17, 2026 - 09:00am to 10:48am PDT
Fri, Apr 17, 2026 - 11:00am to 12:48pm PDT
Thu, Apr 30, 2026 - 01:00pm to 02:48pm PDT
Tue, May 05, 2026 - 07:00am to 08:48am PDT
Sat, May 30, 2026 - 09:00am to 10:48am PDT
Mon, Jun 01, 2026 - 11:00am to 12:48pm PDT
Thu, Jun 11, 2026 - 04:00pm to 05:48pm PDT
Thu, Jun 18, 2026 - 07:00am to 08:48am PDT

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Public and industry accountants responsible for monitoring fair presentation of financial statements 
Original Recording Date 04/2025
Course Developer EMERGENT SOLUTIONS GROUP
Date Added to Catalog 03/2025
Yellow Book Yes

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). 


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


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