FASB Clarifies Accounting for Certain Call Option Modifications

  • Accountant
  • CPA/CFF
  • CFE
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL
  • CIPM
  • FPAC
  • CFIRS
  • CWS

Published: September, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What is the purpose of the new standards?
    2 mins
  • What is Main Provisions?
    21 mins
  • Fees between debtor and creditors
    48 mins
  • Third-party costs of exchange or modification
    50 mins
  • Case A: Warrant modification recognized as an equity issuance cost
    73 mins

Course Description

FASB issued a new standard that is designed to clarify an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity-classified after modification or exchange.

Warrants are one example of the type of call option covered by this guidance.

This online Accounting CPE course will help provide guidance on how an issuer would measure and recognize the effects of these transactions. The new standard provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense.

This Online CPE Course covers the following Major Topics:

  • The purpose and scope of the new amendment.
  • Main provisions of the amendment.
  • Rules for applying the cash flow test.
  • Fees between debtor and creditor.
  • Third-party costs of exchange or modification.
  • Line-of-credit or revolving-debt arrangements.
  • Required disclosures.
  • Illustrated cases.

Learning Objectives

  • To become familiar with the main provisions of the amendment.
  • To know how to apply the cash flow test.
  • Account for fees between debtor and creditor.
  • Deal with third-party costs of exchange or modification.
  • To discuss how to treat line-of-credit or revolving-debt arrangements.
  • To analyze what disclosures are necessary.
  • To review the illustrative cases presented.

Recommended For

  • This Online CPE webinar on Accounting is recommended for all the CPAs and accounting professionals engaged in financial reporting.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 2 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • 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

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

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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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