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

• 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 the exemptions from FIN 45 required disclosures on contracts

• Recognize potential metrics for valuation of a guarantee

• Recognize the general rule for the accounting treatment of research and development and advertising costs

• Identify exceptions to the general rule of accounting for research and development and advertising costs

• 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 frequency in which the impairment of capitalized research and development costs acquired in a business combination is recognized

• 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 applicable assessment period for assessing substantial doubt

• Recognize when it is appropriate to prepare financial statements on the liquidation basis of accounting

• 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

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Price: 
$299.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
10.00
NASBA Field of Study: 
Accounting