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 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

• Identify the general accounting traits associated with both “Big GAAP” and nonpublic companies

• Identify the general characteristics of IFRS for SMEs

• Recognize the role of the Private Company Council within US GAAP

• Identify the changes to accounting for nonpublic companies promulgated within recent, specified FASB guidance

• 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 the unit of account for goodwill impairment testing

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

• Recognize the circumstances necessary to recognize a gain contingency

• Recognize the circumstances necessary to recognize a loss contingency

• 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 definition of a business as found in GAAP

• Identify the circumstances required to achieve a business combination

• Recognize the methodology used to account for a business combination

• Identify the trigger for providing footnote disclosure regarding going concern uncertainties

• Identify mandatory going concern disclosures




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: