To equip CPAs and other finance professionals with a practical understanding of the latest accounting, auditing, and SEC developments so they can apply new standards confidently and maintain compliance in financial reporting.

• Accounting standards:
  – Impairment testing in general
  – Revenue recognition
  – Profit interest awards
  – Leases
  – Capitalization of internal-use software
  – Government grants
  – Variable interest entities
  – Equity transactions
  – Business combinations
  – Joint venture formation
  – Derivatives and hedging
  – Accounting for income taxes
  – SEC items
  – Fair value measurement of restricted stock
  – Proportional amortization of income tax credits
  – Crypto assets
  – Segment reporting
  – Disaggregation of income statement expenses
  – Credit losses
  – Interim reporting
  – Codification improvements
  – Concept statements
• Proposed updates to accounting standards
• FASB projects
• Non-GAAP measures
• Auditing update

To equip CPAs and other finance professionals with a practical understanding of the latest accounting, auditing, and SEC developments so they can apply new standards confidently and maintain compliance in financial reporting.

DETAILED LEARNING OBJECTIVES

• Identify the proper order of impairment testing for long-lived assets and goodwill

• Recognize the criteria used to determine whether an asset is impaired

• Identify how impairment losses are measured and recognized

• Recognize the reporting unit level at which goodwill impairment testing is performed

• Identify key financial reporting implications of asset impairment

• Identify the accounting treatment for share-based and noncash consideration received from customers

• Recognize the impact of recent Accounting Standards Updates on revenue recognition and derivative scope exceptions

• Identify when revenue should be recognized based on satisfaction of performance obligations

• Recognize the proper accounting treatment for forfeitures related to customer consideration

• Identify the accounting guidance governing revenue recognition under ASC 606

• Recognize the distinguishing characteristics of profits interest awards

• Identify when profits interest awards should be accounted for under share-based compensation guidance

• Recognize the financial reporting implications of equity-based compensation arrangements

• Identify the accounting treatment and classification of profits interest awards

• Recognize how profits interest awards affect financial reporting and compensation expense

• Identify when capitalization of internal-use software costs should begin

• Recognize the impact of recent guidance on software capitalization requirements

• Distinguish between capitalizable software costs and costs that must be expensed

• Identify the financial statement classification of capitalized software costs

• Recognize when capitalization should cease and impairment should be considered

• Identify how stock issuance and repurchase transactions affect equity

• Recognize the financial reporting impact of treasury stock transactions

• Identify the effect of equity transactions on assets and shareholders’ equity

• Recognize which financial statement elements are affected by equity transactions

• Identify the role of equity in representing ownership interests

• Recognize the purpose and objectives of hedge accounting

• Identify the measurement basis for hedging instruments

• Recognize how hedge accounting aligns recognition of gains and losses

• Identify the characteristics and purpose of derivative instruments

• Recognize the financial reporting benefits of hedge accounting

• Identify entities subject to SEC reporting requirements

• Recognize the purpose of SEC Staff Accounting Bulletins

• Identify the role of SEC disclosures in improving transparency

• Recognize the SEC’s role in financial reporting oversight

• Identify common SEC filing requirements

• Recognize the purpose of the proportional amortization method

• Identify how tax credit benefits affect income tax expense

• Recognize how tax credit investment costs are amortized

• Identify investments eligible for proportional amortization accounting

• Recognize the financial reporting objective of proportional amortization

• Identify the purpose and objectives of segment reporting

• Recognize how operating segments are determined

• Identify how segment reporting assists financial statement users

• Recognize required segment disclosure information

• Identify the role of the chief operating decision maker in segment reporting

• Identify the purpose and timing of interim financial reporting

• Recognize accounting principles applicable to interim financial statements

• Identify the benefits of interim reporting

• Recognize common interim reporting periods

• Identify how interim reporting improves financial information timeliness

• Recognize the role of the FASB in establishing accounting standards

• Identify the purpose of stakeholder outreach in standard setting

• Recognize the purpose and function of Accounting Standards Updates

• Identify the objectives of FASB standard-setting activities

• Recognize the role of GAAP in financial reporting

• Accounting standards:
  – Impairment testing in general
  – Revenue recognition
  – Profit interest awards
  – Leases
  – Capitalization of internal-use software
  – Government grants
  – Variable interest entities
  – Equity transactions
  – Business combinations
  – Joint venture formation
  – Derivatives and hedging
  – Accounting for income taxes
  – SEC items
  – Fair value measurement of restricted stock
  – Proportional amortization of income tax credits
  – Crypto assets
  – Segment reporting
  – Disaggregation of income statement expenses
  – Credit losses
  – Interim reporting
  – Codification improvements
  – Concept statements
• Proposed updates to accounting standards
• FASB projects
• Non-GAAP measures
• Auditing update