Financial Accounting Issues for Manufacturers, Distributors & Retailers Self-Study Webinar (10 Hours)


Accountants who work for or with manufacturing, wholesale and retail companies face a wide variety of challenges, including inventory, revenue recognition and industry-specific issues. This self-study webinar addresses a broad spectrum of issues, including these cutting-edge areas:

  • Revenue, expense and liability recognition
  • Fraud and earnings management issues
  • Receivables, securitizations and financing
  • ASC 606 (ASU 2014-09) on Revenue Recognition
  • The impact of COVID-19

To provide accountants, auditors and analysts with a comprehensive understanding of the accounting issues that affect manufacturing, wholesale and retail operations. This self-study webinar discusses characteristics, as well as economic and accounting issues, common to these industries to empower financial professionals with the know-how to be highly effective.

  • Inventories—valuations and method
  • Warranties, guarantees and returns
  • Receivables—collectability, financing arrangements and securitizations
  • Revenue, earnings management and expense recognition issues
    – Timing of transactions
    – Specialized forms of sales and financing
    – Separability of product, installation, warranty and other sale components
    – Advertising, R&D and barter transactions
  • Revenue recognition: ASC 606, including industry specific guidance, transition, and adoption
  • Impairments—tangibles and intangibles, including the latest on goodwill for nonpublic entities
  • Asset retirement obligations and FASB Concepts Statement 7
  • Special issues for high-tech companies
  • Special issues for franchisees and franchisors
  • Fraud: prevention, system design and audit issues
  • Leases—adopting and following the New Standard
  • Consolidations, related parties under common control, clarifying the definition of a business, and push down accounting
  • FASB Simplification Initiative
  • The impact of COVID-19

• Identify the characteristics of the AIPCA’s FRF for SMEs

• Identify the role of the Private Company Council

• Recognize the current status of the FASB’s codification improvements

• Identify the impact of COVID-19 on lease accounting under the new standard

• Identify the effects of the TCJA of 2017 on specified tax accounts

• Recognize the objectives of the revenue recognition standard

• Recognize which types of contracts would fall outside the scope of ASC 606

• Recognize the criterion for a revenue contract

• Identify the factors that indicate a good or service performance obligation is distinct from other performance obligations

• Identify the ramifications of performance obligations immaterial in the context of the contract

• Identify factors indicating control over a promised good or service

• Recognize the role of the residual approach in estimating selling price

• Recognize the characteristics indicating that an entity should combine two or more contracts

• Recognize the implications of a contract with a significant financing component

• Identify the accounting treatment of costs associated with obtaining a revenue contract

• Identify the implications of the revenue standard on disclosures

• Recognize the factors indicating a product financing arrangement versus a sale of financial assets

• Identify the threshold for application of the uniform capitalization rules

• Identify the inventory measurement methods available after the effective date of ASU 2015-11

• Identify the circumstances indicating a contingent liability should be recognized under FAS 5

• Identify the rules for recognition of an asset retirement obligation

• Recognize the effect of ASU 2014-08 on the income statement presentation of discontinued operations

• Recognize the circumstances under which intangibles other than goodwill and goodwill should be separately accounted for

• Recognize the conditions under which goodwill impairment must be recognized

• Recognize the frequency with which goodwill should be tested for impairment

• Recognize the default amortization period for a private company that elects to adopt the accounting for goodwill alternative

• Identify the implications of ASU 2017-04 on goodwill impairment testing

• Identify, between pledging, assigning and factoring financial assets, those transactions associated with the highest fees and rates

• Recognize the overall impact of the new leasing standard on a lessee’s balance sheet




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: