GAAP Refresher Webinar

Overview: 

This continually updated webinar is perfect for the accountant who wants to maintain a sound working knowledge of common GAAP topics. It covers a variety of accounting and financial reporting issues, including:

  • Revenue recognition
  • Accounting for leases
  • Impairments and discontinued operations
  • Goodwill impairment
  • Materiality
  • The impact of COVID-19

 

Objective: 

To provide accountants with a refresher of important GAAP topics. You’ll explore many complex accounting pronouncements and rules using discussion questions, problems and real-life examples from financial statements and disclosures.

Emphasis: 
  • Revenue recognition overview, recent interpretations, transition and adoption of Topic 606
    – Multiple deliverables
    – When sales are consummated and rights of return
    – Consignments and “bill and hold” transactions
    – Net vs. gross
    – Segmenting and combining contracts
  • Accounting for leases—summary and adoption of the New Standard
    – Comparison of the old and new standards
    – Lease modifications, variable leases, timing and duration
  • Lessee vs. lessor treatments
  • Fixed assets: valuation, impairment, asset retirement obligations
  • Discontinued operations
  • Goodwill impairment testing—the latest guidance
  • Materiality: uses and abuses
  • Use of “more likely than not”
  • The impact of COVID-19
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Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
8.00
NASBA Field of Study: 
Accounting