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The Brave New World of Fair Value Accounting

FAS 157, Fair Value Measurements, went into effect in late 2007. And although the standard does not introduce any new applications of fair value, the standard's revised definition of fair value and its implementation instructions are already having a profound effect on financial reporting. Some analysts have even blamed FAS 157 for the credit crisis.

While fair value's role in the current financial turmoil is debatable, its impact on historical cost accounting is not. Companies may now mark certain assets and liabilities to market, altering both the balance sheet and reported earnings in the process.

Find out what the new era of fair value accounting will mean for your financial reporting by attending our one-day seminar entitled: "Fair Value Accounting: Impact of FAS 157 & Beyond".

This seminar will provide you with an in-depth analysis of the statement and its applications. You'll learn about the FASB's valuation approach to pricing, how fair value applies to liabilities, the role of probabilistic forecasting in valuation and much more.

IFRS versus US GAAP: Competing & Converging Standards

The SEC recently released a roadmap for US adoption of IFRS that envisions a wholesale conversion to international accounting standards by 2016. This potentially explosive change to the US accounting model will require accountants to master a set of rules that differs substantially from US GAAP.

Our one-day seminar "International Financial Reporting Standards (IFRS): A Review & Update" explores the key differences between IFRS and US GAAP. It will give you insight into divergent rules for balance sheets, income statements, statements of comprehensive income, statements of changes in shareholders' equity and statements of cash flows. You'll learn how to analyze financial statements prepared in accordance with IFRS and how to anticipate how a switch to IFRS would impact your company's financial reporting.

Accounting for Stock-Based Compensation

FASB Statement 123R requires public companies to recognize the value of stock-based compensation in their financial reporting.

What are the pros and cons of different compensation structures? How do you choose the valuation model right for you? What will be the effect on your earnings per share? And what new disclosure requirements must you now follow? The answers to these and other issues raised by the standard are critical to your ultimate compliance.

For a full discussion of these and other issues, consider attending our seminar "Stock-Based Compensation: Accounting Issues". This one-day seminar will highlight the key provisions of FAS 123R and show you how to implement them at your company.

FAS 133 Got You Tied Up in Knots?

If so, you're not alone. Since its inception in 1999, hundreds of companies have had to restate their earnings because of FAS 133 errors. The complexities of this standard are legendary, and they've given headaches to a lot of accountants as they try to correctly follow it. It doesn't have to be this way. The trick is understanding the key implementation issues and what they mean for your company. You need to know what controls to put in place, how to meet the documentation requirements (both written and unwritten) and how to deal with the tax implications.

Our seminar "Accounting for Derivatives: FAS 133 & Beyond" takes a practical, hands-on approach to the complexities of FAS 133. In it, you'll review the basic characteristics of various financial instruments and examine the hedge criteria and accounting requirements for fair value, cash flow and foreign exchange hedges. You'll leave with a firm grasp of the core elements of FAS 133 and an ability to apply what you've learned to your company's reporting situation.

Are You Clear on Partnership Taxation?

Partnerships are one of the most prevalent forms of business organization, and they are subject to a set of tax laws that challenge even seasoned practitioners. Whether you need an introduction to partnership taxation or a more advanced discussion on the subject, you'll find the programs you need at CPE INC.

With five seminars that directly address partnership taxation, we offer maximum choice on this important topic. Seminar titles include: "Federal Income Taxation of Partnerships & Partners: Level I", "Federal Income Taxation of Partnerships & Partners: Level II", "Partnerships--Advanced Tax Workshop: Special Allocation Rules", "K-1s: Preparation, Analysis & Interpretation" and "Taxation of Real Estate Partnerships".

Accounting for Uncertain Tax Positions Under FIN 48

Will your company's tax positions pass muster with the relevant tax authorities? That's the question posed by FIN 48, the FASB's interpretation of how to document and disclose uncertain tax positions.

FIN 48 outlines a two-step process of recognition and measurement for tax positions that requires a significant amount of analysis. Find out what you need to do to comply with this controversial rule by attending our one-day seminar entitled "FIN 48: A Practical Approach". Using case studies and real-world examples, this course will provide you with a roadmap for identifying, documenting and measuring your company's uncertain tax positions.

Explore the Complexities of Revenue Recognition

Though straightforward in concept, revenue recognition is bound up in a host of complex accounting rules. Absent a thorough understanding of those rules, companies can easily run afoul of the SEC or be forced into costly restatements.

Get an in-depth examination of the rules for booking revenue at our one-day seminar entitled "Revenue Recognition & GAAP". This continually updated course delves into the intricacies of revenue recognition, including timing and recognition issues, bill and hold transactions, multiple deliverables, VSOE, nonmonetary transactions and more.

New Rules for Business Combinations

FAS 141R and FAS 160 are effective on January 1, 2009, ushering in an array of changes to the rules for business combinations and consolidations.

With a heavy dose of fair value and different accounting treatments for items like transaction and restructuring costs, these new rules will have a major financial statement impact for companies engaged in combinations or consolidations.

You can learn all about FAS 141R and FAS 160 at "Business Combinations & Consolidations", our one-day seminar on this important topic. It focuses on key changes in accounting treatment for contingent consideration, in-process R&D, step acquisitions, contingencies and more. It also discusses EITF 07-1 on Accounting for Collaborative Arrangements, as well as consolidation requirements under FIN 46R.

FAS 52 & FX Accounting

In a world where more and more companies qualify as multinationals, the demand continues to grow for financial professionals who understand foreign exchange accounting.

Don't let the complexities of consolidating the results from a foreign subsidiary trip up your financial reporting. By attending our "FAS 52 & Derivatives: Unraveling the Mystery of FX Accounting", you'll gain a clear understanding of the difference between translation and remeasurement, the impact of FX on the cash flow statement and the role of derivatives in hedging FX risk.