Financial Accounting & Reporting Update for Corporate Accountants Self-Study Webinar (22 Hours)


New, more complex accounting issues and disclosures create challenges for today’s busy financial executives. In this problem-solving self-study webinar, you will:

  • Gain real-world knowledge of the latest rule changes from the SEC, FASB and more
  • Compare new and existing standards and determine how changes impact you
  • Get prepared for future changes
  • Identify COVID-19 issues

This self-study webinar reviews new financial accounting and reporting requirements from the FASB, IASB, AICPA, SEC and other rulemakers. It examines the rulemakers’ current activities and thinking. It also shows you the expected impact and what you need to do to stay compliant.

  • Accounting Standards
    - ASUs Effective in 2021 &
      - Goodwill (Topic 350)
      - Leases (Topic 842)
      - Current Expected Credit
        Losses (Topic 326)
      - Reference Rate Reform—
        LIBOR Transition (Topic 815)
      - Investments (Topic 321)
      - Equity Transactions (Topic 260)
      - Convertible Instruments & Debt
        (Subtopic 470-20)
      - Business Combinations &
        Collaborative Agreements
        (Topic 805)
      - Government Assistance
        (Topic 832)
      - Accounting for Income Taxes
        (Topic 740)
      - Hedge Accounting (Topic 815)
      - Insurance Contracts (Topic
      - Benefits Plans (Subtopic
      - Variable Interest Entities (Topic
      - Codification Improvements
      - SEC Items (Topic 470)
      - Non-Public Company Issues
        (Topic 606)
      - Cloud Computing (Subtopic
      - Movie & Television Issues
        (Subtopic 926-20)
      - Not-for-Profit Entities (Topic
  • Proposed Accounting Standards Update
    - Interim reporting
    - FV measurement of equity
    - Supplier finance programs
    - Deferral of sunset date
  • Proposed ASUs Cancelled
    - Simplifying the classification of
  • FASB Projects
  • Financial Reporting—Chapter 8 Notes to Financial Statements
  • Non-GAAP Measures
    - Requirements
    - Studies
    - IPOs
    - SEC comments and prohibitions
    - Center for Audit Quality (CAQ)
    - SEC Chief Accountant
  • Business vs. Asset Acquisition
  • Accounting for an Acquisition
  • Goodwill & Intangible Asset Impairment Testing
    - Reporting units
    - Indefinite-lived tangibles
  • Current Expected Credit Losses
    - ASC 326 significant changes
    - CECL model
    - Off balance sheet credit
    - Financial guarantees
    - Transition for securities with
       prior OTTI
    - Key definitions
    - New standard
  • Accounting for a Debt Restructuring That is Not a TRD
    - Test extinguishment or
    - Cash flows
    - Change in principal
  • Climate Change Accounting & Disclosure Proposals
    - Creation of the ISSB
    - SEC’s proposed climate rule
  • Leases
    - Lease Capitalization Process
    - Accounting for Leases (ASC
    - Best Lease Practices
  • Stock-Based Compensation & Disclosure Proposals
    - The SEC’s “Cheap-Stock” Issue
  • Special Purpose Acquisition Companies (SPACs)
  • Auditing Update
    - Statements on auditing
    - Auditor lease issues
  • SEC Update
    - Proposal on disclosure
      cybersecurity risks
    - Miscellaneous SEC proposed

• Identify the date selected ASUs become effective

• Recognize the current IAC proposals for reforming the accounting standard setting process

• Recognize the primary purpose of selected ASUs

• Identify the scope of the proposed ASU on Segment Reporting

• Recognize the FASB projects currently in initial deliberations

• Recognize the types of events that are candidates for disclosure under the conceptual framework for financial reporting

• Identify common non-GAAP measures

• Identify SEC guidance regarding non-GAAP measures

• Recognize prohibitions regarding non-GAAP measures

• Identify the accounting treatment of transaction expenses in a business acquisition

• Identify the methodology for valuing assets and liabilities in an asset acquisition

• Identify the unit of account for goodwill impairment testing purposes

• Identify the circumstances that would trigger a goodwill impairment test

• Identify the frequency at which public company goodwill must be tested for impairment

• Recognize the scope of the current expected credit loss (CECL) model

• Identify the primary characteristics of recognizing loss under the CECL model

• Identify the accounting treatment for financial guarantees under Topic 460

• Recognize the accounting treatment of a loan modification

• Recognize the accounting treatment of a loan extinguishment

• Identify the primary disclosures found within the SEC’s proposed climate-related disclosures

• Identify the issuers subject to an assurance requirement for their Scope 1 and Scope 2 GHG emissions under the SEC’s proposed climate-related disclosures

• Recognize the characteristics of an effective share-based compensation plan

• Recognize the timeline for issuers to recover certain incentive pay under proposed SEC rule 10D-1

• Identify the characteristics of a non-qualified stock option

• Recognize common features of restricted stock awards

• Recognize the timeline for an employee to make a Section 83(b) election

• Identify the appropriate income statement classification of share-based compensation

• Recognize the percentage of a SPAC founder’s shares typically received by a SPAC sponsor

• Recognize SEC concerns with SPACs

• Recognize the disclosures mandated under the SEC’s proposed rule for SPACs

• Identify the current PCAOB research agenda

• Recognize the disclosures mandated under the SEC’s proposal on cybersecurity risks


Basic knowledge of financial accounting and reporting.


No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: