Published on CPE INC. (http://www.cpeonline.com)

GAAP Refresher

Overview:

This continually updated seminar is perfect for the accountant who wants to maintain a sound working knowledge of common GAAP topics. It covers a variety of accounting and financial reporting issues, including:

Revenue recognition
Accounting for leases
Impairments and discontinued operations
Goodwill impairment
Materiality

Objective:

To provide accountants with a refresher of important GAAP topics. You’ll explore many complex accounting pronouncements and rules using discussion questions, problems and real-life examples from financial statements and disclosures.

Emphasis:

Revenue recognition issues
– Multiple deliverables
– VSOE (Vendor Specific Objective Evidence) and TPE (Third Party Evidence)
– When sales are consummated and rights of return
– “Bill and hold” agreements and consignments
– Net vs. gross
– Segmenting and combining contracts
– FASB Revenue Recognition Project, recent pronouncements and recent decisions
Accounting for leases
– Operating and capital leases
– Occupancy and leveraged leases
– FASB’s proposal and current views on leasing transactions
Fixed assets: valuation, impairment, asset retirement obligations
Discontinued operations
Goodwill impairment testing
Materiality: uses and abuses

Bottom

Prerequisite:

None.

Preparation:

No advance preparation required.

Level of Knowledge:

Overview.

NASBA Field of Study:

Accounting

CPE Credit:

8 Hours

Source URL: http://www.cpeonline.com/seminar/seminar/gaap-refresher-65