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Going Concern - Implication in Accounting,Disclosure & Reporting

  • Accountant
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

One of the unfortunate outcomes of the COVID-19 pandemic is the economic stress. Such stress has raised concerns about many entities’ abilities to continue as a going concern, which has significant accounting, disclosure and, reporting implications. “Going concern” refers to the concept that users of financial statements can expect that the company will continue to operate in the near future unless conditions or events occur that may contradict that assumption. Even in a strong economy, companies can lose significant contracts, face cash flow problems or be in danger of missing loan payments. If there is uncertainty as to a company's ability to meet the going concern assumption, the facts and conditions must be disclosed in its financial statements.

This online CPE webinar covers following key topics including the relevant considerations related to going concern: 

  • What to do when substantial doubt concerning an entity’s ability to continue as a going concern exists
  • Management mitigation efforts
  • Required disclosures both when management, and the accountant, feel such efforts will be effective in mitigating the risk
  • Responsibility of an independent accountant for evaluating going concern uncertainty under various levels of engagement to perform attest and non attest services

Learning Objectives

  • To identify going concern indicators
  • To recognize management’s responsibility to evaluate and report
  • To recognize the accountant’s and auditor’s responsibilities to evaluate and report

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Tax Accountant (Industry)

Course Qualification

Webinar Qualifies For

  • 1 CRE Credit for Certified Financial Examiner (CFE)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit of Accounting & Auditing for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    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 (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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Brad Muniz

Partner, SobelCo

Brad E. Muniz, CPA, Partner in Charge of Accounting and Auditing at Sobel & Company LLC, CPAs, Livingston, services businesses and individuals in the areas of accounting, auditing, tax and business consulting.  Brad has over 30 years of experience in the areas of financial reporting, tax compliance and planning for closely held businesses, SEC registrants, non-profit organizations, individuals, and strategic business planning.  Brad has significant experience in a variety of industries, including broker/dealers, real estate, technology/life sciences, retail, manufacturing, not-for-profit and SEC reporting.

A member of the New Jersey Society of CPAs since 1991. He has served on the NJSCPA Board of Trustees as president, secretary, treasurer and trustee. He served on the Finance, Committee Operations, Chapter Operations, NJ-CPA-PAC and Retirement Savings Plan committees;  and Education Foundation Board of Trustees. He has served as a member of the Scholars Institute Advisory Board; Strategic Planning and Volunteer Relations committees; Accounting & Auditing Standards Interest Group; and as a Scholarship Fund Board of Trustee. In the Morris/Sussex Chapter, he has served as president, vice president, treasurer and director.  He currently serves as Chair of the NJCPA Education Foundation and a member of the Professional Conduct Committee.

He is a member of the Allinial Global and has served on its CPE Committee and as vice chair of the Accounting & Auditing Committee.

In his community, Muniz is a board member for Stickley Museum at Craftsman Farms and served as treasurer for Family Intervention Services, and has served as a board member of for numerous other not for profit organizations, and member of the Knoll Golf Advisory Committee.

Muniz earned his B.A. in accounting from William Paterson University, where he currently serves on the College of Business Advisory and Advancement Board. He and his wife, Diane, reside in Parsippany.

About Company

SobelCo

sobelcollc.com

SobelCo is a certified public accounting & consulting  firm that has specialized in serving middle market  family-owned businesses in the NY/NJ area since 1956.

We're proud of our mission and proud to be leaders in the community.  We help our clients succeed  by fostering an environment that encourages our staff's personal and professional growth, combined with a passion for the firm’s core values. 

To accomplish this, we deliver a  range of services including accounting, tax, & business consulting across various industries such as retail, manufacturing, distribution, construction, professional services and nonprofits. In addition,  we offer internal controls, corporate integrity consulting, fraud and forensic services and strategic planning. 

Our clients appreciate our technical expertise, our business acumen and our industry knowledge - but more than anything they appreciate our hands-on, partner level approach. We want our clients to know they are well-cared for and we work hard to maintain consistent communication with them, meeting with them informally and formally - arranging  scheduled meetings and well as the occasional casual breakfast to discuss an emerging business challenge.

Our firm embraces core values that guide our actions and define our commitment. These core values reflect the way we treat each other, our clients and our community.  As  a result we have a culture that nurtures staff, provides excellent client service and gives back to our community.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.6

1005 Ratings

Excellent

654

Very Good

306

Average

41

Poor

4

Terrible

0

CM

Caroline Mazetis, CPA (US)

Sep 10th, 2021

Enjoyed the webinar. The content presented was a nice refresher for someone who has been out of the classroom for a few decades. It was informative and well worth my time to attend.

PWF

Peter W Fierro, CPA (US)

Feb 11th, 2021

An interesting topic, but for me, only academically so, since I am not in public practice. The instructor obviously is very knowledgeable in this area.

JR

Joel Resnick, CPA (US)

Dec 18th, 2020

As usual, Brad was excellent. His ability to deal with difficult subject matter and make it interesting and understandable is incredible.

DT

David Tropea, CPA (US)

Jan 26th, 2021

This should have been a two hour or more webinar. Lots of material to cover. Polling questions were weak and one contained typos

PO

Priscilla Ogamba, CPA (US)

Oct 14th, 2020

Very good presentation. Good timing of the webinar as its the current hot topic. Relevant examples provided by presenter.

Going Concern - Implication in Accounting,Disclosure & Reporting

FREE

1 Credit

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