Overview
This self-study webinar will focus on complex and challenging accounting and SEC reporting topics that are frequently encountered by financial accounting professionals serving US-Listed companies.
AGENDA HIGHLIGHTS
• Non-GAAP Financial Measures
– Compliance disclosure interpretations
– Funds From Operations (FFO)
– EBIT and adjusted EBITDA
– Adjusted revenues
– Broadcast cash flow and Free Cash Flow (FCF)
– Core earnings
– Measures presented on a constant-currency basis
– The impact of COVID-19
– Sustainability
• Management’s Discussion & Analysis (MD&A)
– SEC staff comments
– Trends and uncertainties
– Metrics used to assess performance
– Critical accounting estimates
– Liquidity and capital sources
• Contingencies
– Lack of specificity
– Changes in accruals
– Insufficient details about judgments
– Unclear language
• Segment Reporting
– Reportable and operating segments
– Identifying Chief Operating Decision Maker (CODM)
– Reporting units
– Debt vs. equity
• Revenue Recognition
– Performance obligations
– Transaction price and variable consideration
– Gross vs. net
– Disaggregated revenue
• Fair Value Measurements
• Asset Impairments
– Indicators
– Recoverability tests
– Measuring and allocating loss
• Goodwill & Other Indefinite-Lived Intangible Assets
– Testing for impairment
– Qualitative and quantitative assessment
– At-risk reporting units
• Inventory & Cost of Sales
– Disclosures related to inventory evaluation and costing principles
• Income Taxes—Estimating Annual Effective Tax Rate
– Deferred Tax Assets (DTAs)
– Net Operating Losses (NOLs)
– Exclusions
– Foreign earnings
• Amendments to:
– Regulation S-K Items 301, 302 & 303
– Selected financial data
– Supplementary financial information
– MD&A
– Rule 3-05 & Article 11: Changes to Reporting Acquisitions & Dispositions
– Revisions to significant tests
– Dispositions
– Pro forma financial information
– Financial statements of acquired businesses
– Reduced requirements of registration statements
– Disclosure effectiveness
• Business Combinations
– Transaction costs
– In-process R&D
– Contingent consideration
– VIEs (Variable Interest Entities)
– Fair value of net assets
– Lease classification
– Contingent consideration
– 5-step acquisition method:
– Identify acquirer
– Determine acquisition date
– Meet consideration transferred
– Recognize assets and liabilities
– Measure goodwill
LEARNING OBJECTIVE This webinar focuses on the most complex and challenging accounting and SEC reporting topics most
frequently encountered by financial and accounting professionals serving US-Listed companies.
PREREQUISITE None. ADVANCE PREPARATION None. PROGRAM LEVEL Update. NASBA FIELD OF STUDY Accounting.
DELIVERY METHOD Self-Study.
Speakers
SPEAKER
Craig Lewandowski, Manager Director, KPMG
Detailed Learning Objectives
• Identify the accounting treatment for a potential loss contingency so judgmental it cannot be estimated
• Identify the appropriate methodology behind the aggregation of operating segments to reporting segments
• Recognize the nature of SEC comment letters surrounding revenue recognition, specifically performance obligations
• Identify recent amendments to certain parts of Regulation S-K
• Recognize the distinction between a business combination vs. an asset acquisition in the recognition of goodwill
