Nonpublic Companies: Financial Reporting Issues

Overview: 

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 seminar 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
Objective: 

To update accountants about current financial accounting and reporting requirements pertaining to small and midsize nonpublic companies. Bring your questions and they will be addressed.

Emphasis: 
  • 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
  • Deferred income taxes, uncertain tax positions and Form UTP
  • The FASB Simplification Initiative
  • Impact of tax reform (Tax Cuts and Jobs Act of 2017)
  • The impact COVID-19
     
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
8.00
NASBA Field of Study: 
Accounting