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Topic 958: Presentation & Disclosures by NFPs for Contributed Nonfinancial Assets 2 Credits

Jun 07, 2022, 03:00 PM ET

Topic 958: Presentation & Disclosures by NFPs for Contributed Nonfinancial Assets 2 Credits

  • Rating

    4.2
  • Reviewed on

    February, 2024
  • Subject Area

    Accounting

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Jun 07, 2022, 03:00 PM ET

Learning Objective

  • To examine the background and scope of Topic 958.
  • To discuss the latest information regarding presentation and disclosures for contributed nonfinancial assets.
  • To discuss the specific items targeted by each amendment in Topic 958.
  • To explain the applicable new accounting treatment for each amendment.
  • To analyze the effect of the amendments.
  • To inspect the unique disclosure and presentation requirements of Topic 958.

Course Overview

Sometimes it is a challenge to keep up with the amendments in accounting standards issued by FASB.

In this CPE webinar, speaker Mike Morley will quickly bring you up to date on the applicable amendments introduced by FASB in Topic 958: presentation and disclosures for contributed nonfinancial assets.

The amendments in this Topic 958 Update, address certain stakeholders ‘concerns about the lack of transparency about the measurement of contributed nonfinancial assets recognized by NFPs, as well as the amount of those contributions used in an NFP’s programs and other activities. Topic 958 specifies disclosure and presentation update requirements. It acknowledges differences with GAAP.

Major Topics Covered in this online course:

  • Basic concepts, scope, and applicability of accounting for presentation and disclosures for contributed nonfinancial assets.
  • Planning the approach: accounting policies and decision criteria.
  • Sizing up the impacts of implementation: questions you need to ask.
  • Specific rules and provisions for presentation and disclosures for contributed nonfinancial assets.
  • Recognition criteria.
  • Disclosure and presentation requirements.
  • Notes to financial statements.

Join this CPE course to understand all the updates of Topic 958.

Here is the link to your interests: Accounting CPE course.

Dive into the world of CPA CPE courses with MY-CPE. Our online courses are here to help you complete your CPA CPE credits seamlessly. We cover a wide range of topics delivered by professional subject matter experts. Forget the traditional way of learning with flexible scheduling and learn at your own pace. Join us and start your journey toward professional growth today!

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE
Michel Morley

Founder, Mike Morley

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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

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What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

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To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

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Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

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A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

out of 5

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1,824 ratings

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JP

Jignya Patel, CPA (US)

Great course to learn disclosure requirements for nonfinancial assets. I work for NFP, understanding the reporting and disclosure, FMV component was valuable.

ED

Emily Delostrico, CPA (US)

satisfied

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