Join myCPE Prime with a great discount, Unlimited courses and credits for just $199. Hurry! (Offer expires on July 01) Click here to start.

Ultimate guide to GAAP with Latest Updates

  • Accountant
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • LPA
  • CBA/MCBA
  • CFIRS
  • CWS

Published: October, 2021

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Pronouncements from 2018
    8 mins
  • Pronouncements from 2019
    55 mins
  • Pronouncements from 2020
    72 mins
  • Topic 825 - Financial Instruments
    126 mins
  • Accounting for Cash Flow Hedges
    162 mins
  • Fair Value Not Readily Determinable
    206 mins
  • Topic 606 - Revenue
    247 mins
  • Topic 740 - Income Taxes
    279 mins
  • Topics Covered & Agenda (continued)
    320 mins
  • IFRS - IAS 20
    364 mins

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 a 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 be used as a significant time-saving tool. The key considerations for this include: 

  • Not-for-profit entities
  • Debt, Investments in Equity Securities
  • Financial instruments and credit losses, Distinguishing liabilities form Equity, Derivatives and Hedging
  • Fair Value Measurement
  • Income Statement and reporting comprehensive income
  • Revenue from Contracts with Customers, Receivables 
  • Income taxes, Leases
  • Nonmonetary Transactions, 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

If you are interested in exploring webinars on trust, estate, and financial planning, you might want to explore courses HERE

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 and 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 identify the common terms and accounting alternatives associated with PPP loans
  • To learn 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 wants to update themselves about significant GAAP topics

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Business Owner
  • CEO
  • CFO/Controller
  • Chief Accounting Officer
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 8 CPE Credit for Licensed Public Accountant (LPA)
  • 8 CPE Credit for Internal Audit Practitioner (IAP)
  • 8 PL Credit for Chartered Financial Analyst (CFA)
  • 8 CPE Credit for Certified Valuation Analyst (CVA)
  • 8 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 8 CPE Credit for Certified Management Accountants (CMA)
  • 8 CPE Credit for Certified Internal Auditors (CIA)
  • 8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • 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

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

  • 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.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • 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

4.1

68 Ratings

Excellent

28

Very Good

28

Average

7

Poor

3

Terrible

2

HS

Henry Staaterman, CPA (US)

May 7th, 2022

no

CJ

Chamira Jayamanne, CPA (US)

Dec 31st, 2021

Good summary

MK

Michael Kurek, CFE, CPA (US)

Dec 26th, 2021

Great webinar on updates to GAAP.

WS

Wesley Sito, CPA (US)

Jan 21st, 2022

Very informative updates on GAAP.

AB

Amelia Barati, CPA (US)

Jun 5th, 2022

I was looking forward to the program, because I could complete 8 hours at one time. However, these are very dry topics.

We use cookies to improve your experience on our website. Cookies store information about how a user interacts with Website. By clicking "Accept Cookies", you agree that MY-CPE LLC can store cookies on your device. All your data is anonymised and cannot be used to identify you.