CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

Ultimate Guide to GAAP with Latest Updates

  • CFE
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
Ultimate Guide to GAAP with Latest Updates

8 Credits

$80

Subject Area

Accounting

Webinar Qualifies For

8 CPE credit of Accounting for all CPAs

8 CPE credit for Certified Management Accountants (CMA)

8 CPE credit for Certified Internal Auditors (CIA)

8 PL credit for Chartered Financial Analyst (CFAs)

8 CPE credit for Internal Audit Practitioner (IAP)

8 CPE credit for Certified Fraud Examiners (CFEs)

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

8 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

In this online course for CPAs and other accounting professionals all pronouncements are covered at an overview level to provide attendees with insights into the issues being addressed, when the new ASUs apply, and what changes will result from their application. When specific ASUs apply to attendees, they are covered in greater depth.

Session 1 - GAAP Update

This updated webinar is designed for accountants and who want to keep their selves abreast of the latest rules and regulations affecting financial accounting and its reporting. This webinar is going to cover the Changes to the US Generally Accepted Accounting Principles for Nonpublic Entities. The participants will familiarize themselves with the accounting and reporting requirements of the recent pronouncements. The webinar will identify the expected impact on current and future accounting and reporting. 

This online CPE webinar covers the following key topics:

  • Revenue from Contracts with Customers
  • Receivables
  • Not-for-Profit Entities
  • Debt
  • Financial Instruments
  • Investments in Equity Securities
  • Derivatives and Hedging

Session 2 - Updates to Significant GAAP Topics

This continuing education course is perfect for the CPAs and other accounting professionals who wants to maintain a sound working knowledge of common GAAP topics. It covers a variety of accounting and financial reporting issues, including:

In this online course for CPAs and other accounting professionals all pronouncements are covered at an overview level to provide attendees with insights into the issues being addressed, when the new ASUs apply, and what changes will result from their application. When specific ASUs apply to attendees, they are covered in greater depth.

This online CPE course also covers the recent pronouncements of the FASB's Private Company Council. The PCC has issued several standards to date that offer alternative accounting approaches for non-public entities. These approaches are designed to simplify the accounting for non-public entities without diminishing the quality of financial reporting.

Key topics covered in this online CPE webinar are as follows:

  • Topic-825 Financial Instruments
  • Topic-820 Fair Value Measurement
  • Topic-815 Derivatives and Hedging
  • Topic-220 Income Statement – Reporting Comprehensive Income
  • Topic 310 – Receivables
  • Topic 326 – Financial Instruments – Credit Losses
  • Topics 320, 321, 323, and 325 – Investments
  • Topic 480-Distinguishing Liabilities from Equity
  • Topic 606 – Revenue from Contracts with Customers
  • Topic 718 – Compensation-Stock Compensation
  • Topic 740 – Income Taxes
  • Topic 805 – Business Combinations
  • Topic 842 – Leases
  • Topic 845 – Nonmonetary Transactions
  • Topic 350 – Intangibles – Goodwill and Other

In addition, this online continuing education course briefly reviews 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 be used as a significant time-saving tool.

Session 3 - PPP Loans- Forgiven, But not Forgotten

Participants in the Payroll Protection Program (PPP) have been able to borrow at low-interest rates with the likelihood that some or all will be forgiven.  There has been a great deal of confusion over how to account for the loans and particularly forgiveness.  This online PPP webinar will provide an explanation of the accounting alternatives with examples involving full forgiveness, partial forgiveness, and repayment of amounts that will not be forgiven.

There is no authoritative guidance in the FASB Accounting Standards Codification, which is the only authoritative source of US GAAP.  In the case of PPP loans, the FASB has cited 4 possibilities. This CPE webinar for CPAs illustrates 3 different sets of circumstances each of the 4 alternatives.

This online CPE webinar covers the following key topics:

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

Click to access more webinars on Accounting & Auditing | Sales & Use Tax | Trust, Estate, and Financial Planning 

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 to 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 discuss 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 understand the accounting alternatives available applying GAAP
  • To learn how to record advances, interest accrual, forgiveness, and repayments
  • To evaluate what accounting approach is most appropriate in various circumstances

Who Should Attend?

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

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