MYCPE ONE

Ultimate Guide to GAAP with Latest Updates 8 Credits 8 Credits

Feb 07, 2023, 11:00 AM EDT

Ultimate Guide to GAAP with Latest Updates 8 Credits 8 Credits

  • Mark Dauberman

    | CPA (US), EMBA

  • Rating

    4.2

  • Published on

    January, 1970

  • Subject Area

    Accounting

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Feb 07, 2023, 11:00 AM EDT

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Learning Objectives

  • To identify and explore pronouncements affecting GAAP, their topics and subtopics, and their effective dates.
  • To identify significant changes made by each pronouncement.
  • To evaluate the relevance of a specific set of financial statements.
  • To develop approaches for applying and documenting their implementation.
  • To identify topics in the FASB ASC that are common to the financial statements of many entities and that have undergone numerous changes over the last several years.
  • To discuss how to determine whether changes are applicable to their financial statements or those of their clients.
  • To analyze the history of, and the reasons for, some of the changes.
  • To evaluate changes to identify patterns that indicate how accounting and reporting principles have evolved.
  • To identify the common terms associated with PPP loans.
  • To study the accounting alternatives available by applying GAAP.
  • To determine how to record advances, interest accrual, forgiveness, and repayments.
  • To evaluate what accounting approach is most appropriate in various circumstances.

Course Overview

For CPAs and accounting professionals keeping a sound knowledge of common GAAP topics including accounting and financial reporting issues is vital. Accountants should keep abreast of the latest rules and regulations that affect financial accounting and reporting. This full-day online CPE course provides an ultimate guide to Generally Accepted Accounting Principles with the latest updates at an overview level. It also delves deep into specific issues when the new Asus apply. It also draws your attention to the changes the new applications will imply in greater depth. This course covers changes to the US GAAP updates for nonpublic entities as well as Payroll Protection Programs.

The US GAAP for Nonpublic entities covers familiarizing with accounting-reporting requirements of the recent pronouncements, and their impact on the current and future accounting and reporting. It will also address accounting and financial reporting issues. Recent pronouncements of the Financial Accounting Standards Board’s (FASB) Private Company Council (PCC) issued standards that offer alternative accounting approaches for non-public entities are also included that simplify the accounting without diminishing the quality of financial reporting. It will also briefly review some of the key features of the FASB Codification with emphasis on the efficient performing and updating of research and the development of customized disclosure checklists for each engagement that can be easily updated and used as a significant time-saving tool. The key considerations for this include: 

  • Revenue from contracts with customers
  • Not-for-profit entities
  • Debt
  • Investments in Equity Securities
  • Derivatives and Hedging
  • Topic 825 – Financial instruments
  • Topic 820 - Fair Value Measurement
  • Topic 815 – Derivatives and Hedging
  • Topic 220 – Income Statement and reporting comprehensive income
  • Topic 310 – Receivables 
  • Topic 326 – Financial instruments and credit losses
  • Topic 480 – Distinguishing liabilities form Equity
  • Topic 606 – Revenue from Contracts with Customers
  • Topic 718 – Compensation and Stock Compensation
  • Topic 740 – Income taxes
  • Topic 805 – Business combinations
  • Topic 842 – Leases
  • Topic 845 – Nonmonetary Transactions
  • Topic 350 – Intangibles - goodwill and others

With the likelihood of being forgiven, partially or fully, the participants in the Payroll Protection Program (PPP) have been able to borrow at low-interest rates. Amongst businesses, there is a great deal of confusion over how to account for loans, particularly forgiveness. This Online CPE course covers the accounting alternatives involving full forgiveness, partial forgiveness, and repayment of the amounts that have not been forgiven. As there is no authoritative guidance in the FASB Accounting standard codification that is the only authoritative source of the US GAAP. In the case of PPP loans, the FASB has cited four possibilities. This webinar illustrates three different sets of circumstances for each of the four alternatives.

This online CPE course on accounting covers the following Key topics: 

  • Understanding PPP loans
  • Identifying alternative accounting approaches
  • Terms and terminology
  • Conditions related to illustrations
  • Forgiveness and possible unforgiven portion
  • US GAAP versus International Standards

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 8 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 8 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 8 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 8 CPE Eligible
Financial Reporting for Accredited in Business Valuation (ABV) 8 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 8 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 8 CPD Eligible
Accounting for Chartered Financial Analyst (CFA) 8 PL Eligible
Accounting for Certified Government Financial Manager (CGFM) 8 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 8 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 8 CE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 8 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 8 CPE Eligible
Accounting for CIPM 8 PL Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 8 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 8 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 8 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 8 CPE Eligible
Financial Reporting for Accredited in Business Valuation (ABV) 8 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 8 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 8 CPD Eligible
Accounting for Chartered Financial Analyst (CFA) 8 PL Eligible
Accounting for Certified Government Financial Manager (CGFM) 8 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 8 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 8 CE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 8 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 8 CPE Eligible
Accounting for CIPM 8 PL Eligible

Additional Information

Credits

8

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

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

MY-CPE LLC 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 through its website: www.nasbaregistry.org.

About Instructor

Mark Dauberman

Mark Dauberman | CPA (US), EMBA

Owner, Mark Dauberman

  • 4.4
  • rating
  • rating
  • rating
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Mark provides CPE and technical staff training for CPA firms, private industry, state CPA societies, and government organizations.  His topics include accounting, SSARS, ethics, fraud, internal and external auditing, internal control development (COSO), entrepreneurship, and developing a business plan.  Mark is in the process of initiating a new entity, The Internal Control Institute, which will be offering CPE and staff training related to internal controls, and in conjunction with professors from Claremont Graduate University, will be providing internal control consulting.

Mark is also an expert witness in the defense of CPAs in cases involving primarily ethics, fraud, and compliance with standards in the performance of professional services.

Mark also provides consulting services to CPA firms with an A & A practice that do not have an expert on GAAP or requirements of Professional Standards within the firm.  He addresses such matters as conformity with GAAP, adequacy of disclosures, compliance with professional standards, risk assessment, development and performance of audit and review processes, engagement documentation, compilation and preparation engagements, ethics and independence requirements, assessing and enhancing internal controls for the firm and clients, preparation for peer review, and staff training and CPE.  He also provides consulting services related to client management and marketing.

Mark’s public accounting experience includes working with Kenneth Leventhal & Company and more recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm along with controller and Vice President of Finance and Administration for major real estate development companies.  Mark also spent nearly 30 years as an entrepreneur, operating a company that prepared individuals for the CPA exam nationwide.

Mark has been involved in accounting education at CSU Northridge, CSU San Bernardino, Loyola Marymount University and UCLA.  He obtained his bachelor’s degree in accounting from CSU Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.  He also obtained an Internal Control Certificate from COSO.  Until recently, he authored “Knowledge Based Preparation, Compilation, and Review Engagements” for CCH and updated their checklists for SSARS engagements.  He also served as Senior Editor for Roger CPA Review.

On Demand FAQs

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. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

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.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

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.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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 professional organizations 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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

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. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

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 accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

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 accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

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.

Reviews and Ratings

out of 5

Excellent (38%)

Very Good (44%)

Average (17%)

Poor (1%)

Terrible

EG

Erica Green, CPA (US)

5

It has been sometime since reviewing debt and equity securities I appreciate the updates included in this webinar. Also the PPP loan updates are informative as well. Erica Green

SM

Stasia Madigan, CPA (US)

5

Such a great overview for all of the updates.

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GAAP Guide Accounting CPE Webinar | myCPE

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