CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

Latest on Going-Concern Evaluation of Management Plans and Adequacy of Disclosures

Michel Morley

Mike Morley

Monday, June 07, 2021 | 03:00 PM EDT

  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL

2 Credits

$20

Subject Area

Accounting & Auditing

Webinar Qualifies For

2 CPE credit of Accounting & Auditing for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPE credit for Internal Audit Practitioner (IAP)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

Under generally accepted accounting principles (GAAP), a continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent.

If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting.

Even if an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.

This online continuing education session will help you determine what guidelines should be followed to determine whether to disclose information about the relevant conditions and events.

In this online CPE webinar following major topics are covered:

  • Understand the effects of a going-concern audit note.
  • Know the levels of disclosure.
  • Review the principal conditions or events leading to “substantial doubt.”
  • Management’s evaluation of the entity’s ability to continue as a going concern
  • Management’s plans to mitigate liquidation risk.
  • Liquidation-based accounting rules.
  • Required disclosures.

Click for more webinars on Accounting & Auditing.


Learning Objectives

  • Get up to date on the latest GAAP updates for going concern issues.
  • Recognize when there is a going concern that needs attention.
  • Identify the signs of substantial doubt.
  • Review the steps the auditor must take.
  • Implement liquidation-based accounting.
  • Develop strategies for dealing management evaluations.
  • Understand the timing and frequency of going-concern evaluations.
  • Prepare necessary disclosures.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Business Owner
  • CEO
  • Certified Management Accountant
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Management Consultant
  • Young CPA