Selected Topics in GAAP Self-Study Webinar (10 Hours)

Overview: 

If you’re looking for an update on critical GAAP topics, this is the self-study webinar for you. This course will refresh the accountant’s knowledge of key pronouncements and cover an array of GAAP issues including:

  • Contingencies and uncertainties
  • Goodwill impairment
  • Accounting for interest
  • The impact of COVID-19
Objective: 

To provide financial professionals with a survey of key topics in US GAAP. You’ll explore the rules for subsequent events, fair value, going concerns and more.

Emphasis: 
  • Goodwill impairment, including special treatments and exceptions
  • Accounting for interest
  • Contingencies, uncertainties, guarantees and use of "more likely than not"
  • Fair value and Other-Than-Temporary Impairment (OTTI)
  • R&D and advertising
  • Nonmonetary transactions
  • Subsequent events
  • Going concerns and the liquidation basis of accounting
  • Accounting for deferred taxes, including changes from the FASB Simplification Initiative
  • The impact of COVID-19

Identify the characteristics of the FASB’s simplification initiative

Identify the methodology used by the PCC

Identify the characteristics of the FASB’s codification improvements

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

Recognize the FASB staff guidance regarding COVID-19 related rent concessions

Identify the required disclosures relating to an entity’s risks and uncertainties

Recognize the circumstances requiring an entity to disclose vulnerability due to certain business concentrations

Recognize the required disclosures of a guarantor

Recognize potential metrics for valuation of a guarantee

Identify the accounting treatment of acquired fixed assets in research and development costs

Identify general characteristics of research and development costs

Identify the post-acquisition treatment of capitalized research and development costs acquired in a business combination

Identify the basis for the accounting treatment of nonmonetary transactions

Recognize the circumstances under which there is gain/loss recognition on an exchange of nonmonetary assets

Recognize the entity now responsible for assessing a company’s ability to continue as a going concern

Recognize the threshold for substantial doubt in assessing an entity’s ability to continue as a going concern

Recognize the circumstances under which interest is capitalized

Recognize the capitalization period of interest

Recognize the frequency in which goodwill is tested for impairment

Recognize the steps in goodwill impairment testing

Identify the triggers for goodwill impairment testing

Identify the role of qualitative assessments in goodwill impairment testing

Identify private company options for goodwill impairment testing

Identify the characteristics of the FASB’s proposed ASU addressing simplifying the accounting for goodwill impairment

Identify the approach to calculating deferred taxes under ASC 740

Recognize the events creating a deferred tax asset

Identify the events creating a deferred tax liability

Identify the role of a valuation allowance in accounting for deferred taxes

Identify the result of goodwill impairment on deferred taxes

Recognize the threshold for corporations to use the cash method of accounting under the TCJA

Recognize the assumption used when determining fair value

Recognize acceptable valuation techniques identified in ASC 820

Identify the valuation approach that uses prices and information from identical or comparable assets or liabilities

Identify the applicability of the fair value option

 

Bottom
Price: 
$299.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
10.00
NASBA Field of Study: 
Accounting