Accounting for Exit or Disposal Activities, Debt Modifications & Contingencies Self-Study Webinar (10 Hours)

Overview: 

Today, your organization’s information systems are the target of continuous, online, malicious attacks. Thwarting these cyberattacks requires expertise and 24/7 diligence. In this self-study webinar, you’ll discover the best ways to stop these attacks before they damage your organization’s reputation and finances. Plus, you’ll find out the quick steps that must be taken to contain the impact when a breach occurs. You’ll learn how to:

  • Apply your cybersecurity program—what to do and how to do it
  • Create a multi-layer program to reduce and eliminate risk
  • Deal with the wide-ranging implications on a company’s accounting and financial reporting, including SOX audits and SEC filings
  • Build an integrated and comprehensive company-wide cybersecurity plan
Objective: 

This self-study webinar is designed to show financial and accounting professionals the best ways to deal with today’s toughest cybersecurity issues. You’ll learn core principles and proven techniques to successfully safeguard your organization from cyber attacks and effectively deal with breaches when they occur. It also emphasizes how to build communications, share information, and get everyone in the company focused on the same goals and working together.

Emphasis: 
  • Identify the cyber risks and align your cybersecurity program with the company’s goals
  • What questions you can expect from the Audit Committee
  • How to deal with the latest SEC and other cybersecurity disclosure regulations
  • Public Relations and Cybersecurity: striking the balance of not creating fear while still being accurate
  • The flow of Objectives to Risks, to Controls, to Audit plans
  • Dealing with multiple divisions and corporate structures 
  • Methods for preventing cyber events
  • Techniques for responding to incidents to contain the damage
  • Jurisdictional issues:
    – China data location requirements
    – The new European Union GDPR
    – California consumer protections and other US state requirements
  • How cloud computing affects compliance and controls
  • How IT outsourcing impacts cybersecurity
  • Best practices for organizing staff and vendors
  • Real-World Incident Response Success Strategies

• Identify the types of nonretirement postemployment benefits found within Topic 712

• Identify the conditions under which ASC 712 requires employers to accrue a liability

• Identify the circumstances under which a company’s decision to terminate an employee is evidenced

• Identify the circumstances under which a nonretirement postemployment benefit expense will be discounted

• Recognize types of Topic 420 exit or restructuring activities

• Recognize types of activities scoped out of Topic 420

• Identify when a liability for a cost associated with an exit or disposal activity is recognized

• Identify the measurement used when recognizing a liability for a cost associated with an exit or disposal activity

• Identify the preferred valuation technique with which to estimate the FV of a liability for a cost associated with an exit or disposal activity

• Identify the role of market risk premiums when valuing a liability for a cost associated with an exit or disposal activity

• Identify any appropriate changes to the initial measurement of an exit or disposal cost liability

• Recognize the circumstances under which a liability for one-time employee termination benefits is recorded

• Recognize the circumstances under which a liability for a voluntary one-time benefit is recorded

• Recognize the appropriate codification guidance for recording costs to terminate a lease contract

• Recognize the appropriate placement of Topic 420 disclosures

• Recognize additional involuntary termination benefit disclosures suggested in SEC SAB 100

• Recognize the warning given by the then SEC chairman regarding accounting for restructuring charges

• Identify the codification placement of GAAP guidance for contingencies

• Identify the circumstances under which an estimated loss from a loss contingency is recognized

• Identify the threshold for recognizing a contingency under Topic 450

• Identify the appropriate contingency accrual amount when only a contingency range is known

• Identify SEC guidance regarding disclosures on contingency accruals under Topic 450

• Recognize the level of access the outside auditors should generally be entitled to when examining the facts and circumstances behind contingency accruals

• Recognize the differences between the guidance found in Topic 450 and IAS 37

• Recognize the appropriate accounting model for a restructured loan from the perspective of the debtor

• Recognize the debtor’s accounting treatment when a loan is restructured with the original creditor

• Recognize the circumstances under which a modification of a debt is considered to be a troubled debt restructuring (TDR)

• Recognize the relationship between troubled debt restructurings and the CECL model

• Identify the tests used to distinguish a loan modification from a loan extinguishment

• Identify the accounting for a loan modification

• Identify the time period in which a sale of PP&E must be probable and expected for classification as held for sale under ASC

• Identify the appropriate classification of proceeds from the sale of a discontinued operation within the statement of cash flows

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Price: 
$399.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
10.00
NASBA Field of Study: 
Accounting