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Ultimate Guide to GAAP with Latest Updates

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

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 the 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 the 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

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.

Recommended For

  • This online CPE webinar is recommended for CPAs and other accounting professionals who want to update themselves about significant GAAP topics.
  • This CPE webinar is recommended for accounting professionals who want to study more about US GAAP and accounting alternatives available for GAAP if any.

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 (CMA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • Compliance Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 8 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 8 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 8 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 8 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 8 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 8 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 8 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 8 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 8 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 8 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 8 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 8 PL Credit of Accounting for Certificate In Investment Performance Measurement (CIPM)
  • 8 CRE Credit of Financial accounting concepts for Certified Corporate FP&A Professional (FPAC)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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

Mark Dauberman, CPA (US)

Owner, Mark Dauberman

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.

About Company

Mark Dauberman

www.markdauberman.com

Mark Currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management.  He is also the Senior Editor for Roger CPA Review Course and authors CCH’s “Knowledge-Based Compilations and Reviews”.

Mark’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm, where he served as director of the audit practice and was responsible for recruiting, training, business development, quality control, and strategic planning for the firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies.  Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.

Mark taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University at San Bernardino.

Mark obtained his bachelor’s degree in accounting from California State University at 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.

Faq

FAQs content

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  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
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  • 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.
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  • 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.
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Ratings and Review

4.1

160 Ratings

Excellent

55

Very Good

68

Average

31

Poor

5

Terrible

1

SM

Stasia Madigan, CPA (US)

May 11th, 2022

Such a great overview for all of the updates.

MR

Michael Rather, CPA (US)

Sep 21st, 2022

The overall experience of the live webinar was positive and I would recommend to others. The presenter kept clearing his throat and stopped a few times to blow his nose which was distracting at times.

EG

Erin Gilbert, CPA (US)

Nov 1st, 2022