The Coronavirus Impact On Accounting And Financial Reporting: What Every CPA Should Know

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • CGMA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS

Published: April, 2020

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Subsequent events
    7 mins
  • Valuation or recoverability of financial and tangible assets
    17 mins
  • ASC 360, Property, Plant and Equipment
    32 mins
  • Debt, Loss contingencies & Other liabilities
    46 mins
  • Accrual for employment termination benefits
    54 mins
  • Sources of risks and uncertainities
    70 mins
  • Possible scope limitations
    86 mins

Course Description

The global tragedy of the coronavirus pandemic (COVID-19) is being felt by individuals and businesses alike. While the long-term economic and business consequences remain unknown, this webinar course is going to provide insight into the real-life implications that this pandemic is already having on the application of currently required accounting, presentation, and disclosure rules when preparing the financial statements of public and nonpublic entities alike.

Due to the special conditions of the pandemic, the requirements of the internal controls are going to be a challenge. How should an accountant behave in such a situation? What preparation will help manage the internal and external reporting requirements of the clients? How the risk and uncertainty disclosures can play a role in such a trying time? This webinar on Accounting is also going to provide tips for public accounting professionals who must continue to provide audit, attest, and accounting services for clients for financial statements dated December 31, 2019, and thereafter.

This online CPE webinar on Accounting covers the following Key Topics:

  • Practical financial statement implications triggered by various U.S. GAAP and special purpose framework accounting, presentation, and disclosure matters.
  • Valuation of receivables and investments.
  • Impairment of long-lived assets, including goodwill.
  • Hedge accounting, including interest rate swaps.
  • Revenue recognition, including collectability and variable consideration.
  • Loss contingencies.
  • Real-life examples of risk and uncertainty disclosures being made by public and nonpublic companies.
  • Critical internal control considerations in today’s business and economic environment.
  • Tips for public accountants continuing to provide audit, attest, and accounting services, including the impact on audit and attest reporting.
  • Disclosures of contingent liabilities.

Rich with real-life examples, this course will also provide tips for accounting professionals who must continue to provide audit, financial statements, attest, and accounting services for clients for the year ending December 31, 2019, and beyond.

Learning Objectives

  • To recall the accounting, presentation, and disclosure requirements of financial statements prepared under U.S. GAAP and special purpose frameworks that are likely to “kick-in” as a result of the continued pandemic
  • To recognize and explain important internal control considerations as financial statements must continue to be prepared during this tumultuous time
  • To identify tips for public accounting professionals who must continue to provide audit, attest, and accounting services to help clients satisfy internal and external reporting requirements
  • To recognize real-life examples of risk and uncertainty disclosures being made by public and nonpublic companies.

Recommended For

  • This Online CPE webinar on Accounting is recommended for CPAs, CMA, CFE, CVA, and Other Accounting professionals who desire to provide the best services to their clients in financial reporting
  • This Online course on Accounting is recommended for any professional in the Accounting industry working at any level who desires to learn the impact of COVID on accounting and financial reporting

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Accounting Managers
    • Accounting Practice Owners
    • Accounts Director
    • CPA (Industry)
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • CPA in Business
    • Entrepreneurial Accountant
    • Entrepreneurial CPA
    • Finance Director
    • Finance Pros
    • Government Contractor
    • Outsourced CFO
    • Senior Accountant
    • Staff of Accounting Firm
    • Tax Accountant (Industry)
    • Tax Director (Industry)
    • Tax Managers
    • Tax Practitioners
    • VP Accounts
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
    • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
    • 2 CPE Credit of Accounting for Chartered Global Management Accountants (CGMA)
    • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 2 CE Credit for Certified Wealth Strategist (CWS)
    • 2 General Credit of Accounting for Accountant/Bookeeper
    • 2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
    • 2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
    • 2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
    • 2 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
    • 2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
    • 2 PL Credit of Accounting for Chartered Financial Analyst (CFA)
    • 2 CPE Credit of Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP)
    • 2 CPE Credit of Accounting & Auditing (Govt.) for Qualification in Internal Audit Leadership (QIAL)
    • 2 PL Credit of Accounting for Certificate In Investment Performance Measurement (CIPM)
    • 2 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
    • 2 CRE Credit of Financial accounting concepts for Certified Corporate FP&A Professional (FPAC)
    • 2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)

    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

    Jennifer Louis, CPA (US)

    President, Emergent Solutions Group LLC

    Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

    About Company

    Emergent Solutions Group LLC

    www.emergentgroup.net

    Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

    1. Developing High-Caliber, Cost-Effective Training Content

    2. Revamping or Customizing Existing Training Offerings

    3. "On-Call” Instructing and Speaking

    4. Training the Trainer

    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

    4.7

    23 Ratings

    Excellent

    15

    Very Good

    8

    Average

    0

    Poor

    0

    Terrible

    0

    AI

    Angela Izzo

    Aug 6th, 2020

    This webinar was wonderful and full of excellent and pertinent information. I would highly recommend it to anyone who will be preparing financial statements.

    CC

    Charles Chalfant, CPA (US)

    Jan 1st, 2021

    This was an excellent presentation, with an effective subject matter expert and engaging presenter, and timely topics.

    KH

    Katie Hampton

    Dec 30th, 2020

    Great instructor, clear guidance

    PG

    Paula Gorden, Accountant, CFE, CPA (US)

    Oct 1st, 2021

    MyCPE is a good program.

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