Nonpublic Companies: Financial Reporting Issues Self-Study Webinar (11 Hours)


Do you find it frustrating or fruitless grappling with complicated accounting and reporting requirements only to discover they don't apply to your nonpublic company? If so, you need to take advantage of this hands-on self-study webinar that:

  • Pinpoints relevant reporting requirements of nonpublic companies vs. public companies
  • Addresses troublesome accounting areas that affect nonpublic companies
  • Explains accounting, reporting and disclosure solutions best suited for nonpublic companies
  • Reviews the impact of COVID-19

To update accountants about current financial accounting and reporting requirements pertaining to small and midsize nonpublic companies.

  • Private company financial reporting, including comparison with public companies
  • FASB and the PCC (Private Company Council)
  • GAAP vs. other Financial Reporting Frameworks
  • Non-GAAP information and disclosures
  • Revenue recognition: recent interpretations, transitional guidance, and adoption
  • Uncertainties and contingencies: estimates, concentrations of risk, materiality and disclosures
  • Consolidations, combinations, clarifying the definition of a business, push down accounting and related parties, including those under common control
  • Lease accounting—adopting and following the new guidance
  • Accounting for, and impairment of, intangible assets and goodwill, including special treatments for nonpublic entities
  • Deferred income taxes, uncertain tax positions and Form UTP
  • The FASB Simplification Initiative
  • The impact of COVID-19

• Recognize accounting authoritative bodies’ responses to the COVID-19 pandemic

• Identify the characteristics and relevance of “Big GAAP”

• Identify the entity responsible for the establishment of the Private Company Council

• Recognize the primary role of the Private Company Council

• Recognize the characteristics of the FASB’s Simplification Initiative

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

• Identify common non-GAAP measures

• Identify recent SEC guidance regarding the use of non-GAAP measures

• Recognize the minimum time threshold for goodwill impairment testing

• Recognize the circumstances under which a component of an operating segment is treated as a reporting unit for purposes of goodwill impairment testing

• Identify the steps of impairment testing for goodwill

• Recognize triggers for impairment testing for goodwill

• Recognize the ASU 2017-04 and ASU 2019-06 alternatives for goodwill impairment testing

• Identify specified mandatory disclosures related to intangible assets subject to amortization

• Recognize the primary motivations behind the new leasing standard

• Recognize the characteristics of a lease contract

• Recognize the classification of leases by lessees

• Recognize the frequency with which lease terms are reassessed

• Recognize the lessee classification of lease payments in the statement of cash flows

• Identify the accounting for operating lease income by lessors

• Identify the balance sheet treatment of subleases

• Identify the accounting treatment of sale and leaseback transactions

• Identify the transition requirements to ASC Topic 842

• Recognize the relevance of revenue guidance found outside of ASC 606

• 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 the basis for which the transaction price is allocated to the separate performance obligations in a contract

• Recognize the characteristics indicating that an entity should combine two or more contracts and account for them as a single contract

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

• Recognize the indicators of control of an asset where the performance obligation is satisfied at a point in time

• Recognize the necessary amortization period time frame which allows an entity to elect to expense the cost of obtaining a contract

• Identify the probability percentage associated with the “more-likely-than-not” threshold

• Identify the scope of FIN 45 (ASC 460) guarantees

• Recognize the role of and responsibility for the determination of materiality in the preparation of the financial statements

• Recognize the FIN 48 (ASC 740) threshold for recognizing the benefits of uncertain tax positions in the financial statements

• Recognize the circumstances under which a tax position is considered to be effectively settled

• Identify the ramifications of ASU 2015-17 on the balance sheet presentation of deferred tax assets and liabilities




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: