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Accounting's Perfect Storm: A Moving Target!

Total Credits: 4 including 4 Accounting - Technical

Average Rating:
Accounting and Auditing |  ACPEN Industry Institute
William F. O’Brien, MBA, CPA
Course Levels:
4 Hours


The world of professional accounting in the United States is changing forever.  While most financial managers and CPAs are aware of the potential incorporation of International Financial Reporting Standards into U.S. GAAP, many are not sensitive to the potential changes resulting from FASB’s convergence project and the impact of changes in accounting standards for non-public companies from the FASB and the AICPA.


These three elements—adoption, convergence and FASB and AICPA private company reporting—come together to form Accounting’s Perfect Storm.  The changing climate will mandate monumental changes in reporting, operations and financial systems.  You cannot afford to miss this entertaining and interactive course.

Basic Course Information

Learning Objectives *Explore the elements of the Perfect Storm *Develop an appreciation for the adoption impact *Learn how the convergence project will change your basic financial reporting model *Discover the potential alternatives for private company reporting *Identify the critical operations issues driven by the storm *Identify 10 action items for you to take today as you prepare for the stormy weather
Major Subjects

*The elements of the storm and their current status

*The impact of IFRS adoption

*The major convergence issues

*An overview of the elephant in the room—reformatted financial statements

*Exercise: Generating management’s interest in the change in climate

*Alternatives for private company reporting

*Exercise: Selecting the right basis of accounting for your company or client 

*10 business issues driven by the storm

*10 action items for you to take today in preparation for the storm

*Exercise: Preparing key stakeholders for the storm

Course Materials


William F. O’Brien, MBA, CPA Related seminars and products:

WILLIAM F. O’BRIEN, MBA, CPA, is a financial management consultant and educator with over 40 years of experience. He has held senior financial management positions with Intel Corporation and ROLM Corporation and served as CFO for several emerging high technology companies. Mr. O’Brien has extensive experience in corporate planning, financial analysis, cash management and managerial accounting in both domestic and international settings. He has served on the faculties of Santa Clara University and San Jose State University and is a frequent financial seminar speaker in both the U.S. and abroad. 

Additional Info

Basic Course Information


Knowledge of current events in the financial reporting field.

Advanced Preparation


Designed For

CPAs in practice and Members in Industry

Original Recording Date


Course Developer

Bill O'Brien

Date Added to Catalog


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints.

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:

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 if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 

Promo Video



Overall:      4.5

Total Reviews: 167


Krystal S

"The info seems a bit outdated, and one of the handouts is clearly from a number of years ago. The speakers made an incredibly difficult topic much easier to understand. Good speaking, and good questions!"

Eileen B

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Hannah V

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Nailya C - Andrews, South Carolina

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Thomas M

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Michael G

"Very satisfied with the quality of course and delivery."

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