Joel Wagoner, CPA, CMA, CFM , Assistant Professor of Accounting, will speak at the Institute of Management Accountants North Penn Chapter’s meeting on Nov. 16, addressing “How Will the Coming Changes in Financial Reporting Affect Management Accountants?”
Wagoner will ask, “What will be the effects to the presentation of financial statements that the FASB and IASB are considering? Earlier this year, they published a draft in which they proposed dividing the income statement and balance sheet into sections, with assets and liabilities divided among the sections. The sections would correspond to the different types of activities represented on the statement of cash flows. Information will be shown in much greater detail, with additional disclosures required.
“The changes will have obvious, significant impact on those who do financial reporting,” he says. “There will also be more subtle, but significant, effects on those who do financial analysis, and many other management accountant functions.”
Joel Wagoner is a member of the Institute of Management Accountants and currently serves on the executive committee of the Greater Philadelphia Chapter of the Pennsylvania Institute of CPAs.
Wagoner also do a presentation for Penn State's Continuing Education Office on Dec. 18 on “GAAP vs. IFRS” for accountants, CPAs, and attorneys. Read more.