Frequently Encountered Accounting & SEC Reporting Topics Self-Study Webinar
Overview
Accounting professionals routinely encounter complex transactions requiring careful judgment and application of standards. This self-study webinar focuses on practical challenges that arise in day-to-day financial reporting. You’ll learn how to:
- Apply authoritative guidance to common accounting scenarios
- Improve consistency in professional judgment
- Reduce risk of misapplying standards
Objective
To provide CPAs and other finance professionals with practical insight into frequently encountered accounting issues and strengthen their ability to apply accounting guidance accurately and confidently.
DETAILED LEARNING OBJECTIVES
• Determine when a transaction qualifies as a business combination under ASC 805
• Apply the screen test from ASU 2017-01 to distinguish between a business and an asset acquisition
• Evaluate factors used to differentiate between purchase consideration and compensation in a business combination
• Identify when contingent consideration should be classified as a liability under ASC 805
• Recognize the conditions for accruing a loss contingency under ASC 450
• Identify when a lease modification should be accounted for as a separate contract under ASC 842
• Apply ASC 606 guidance to account for contract modifications involving non-distinct goods or services
• Identify when consideration payable to a customer should be recorded as a reduction of revenue under ASC 606
• Determine when variable consideration can be recognized under ASC 606 without risk of significant reversal
Emphasis
- Business combinations and asset purchases
- Accounting for lease modifications
- Debt modifications vs. extinguishments
- Revenue recognition issues
Speakers
Lauren A. Klosterhoff, CPA, Director of Self-Study Programs, CPE Inc.
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