Overview:
This continually updated webcast 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:
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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
