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THE CORONAVIRUS IMPACT ON ACCOUNTING AND FINANCIAL REPORTING: WHAT EVERY CPA SHOULD KNOW

4.6 (290)

Jennifer Louis, CPA

Emergent Solutions Group LLC

Thursday, April 09, 2020 | 03:00 PM EDT

  • CMA
  • CPA
  • CGMA

2 Credits

$10

Subject Area

Accounting

Upcoming Webinars

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 course will 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. This course will also 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.

MAJOR TOPICS COVERED :

  • 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.

Recommended for Public and industry accountants at all levels interested in remaining current on professional, technical and relevant regulatory requirements.

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.

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
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Accounts
  • VP Finance
  • Young CPA

Testimonial

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    [no_of_record] => 290
    [average] => 4.6069
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4.6

(290)
67%
28%
6%
0%
0%

SSB

There were some technical issues on my screen so I was unable to respond, but later it was resolved. Thanks, Jennifer for sharing the wonderful information on impact of corona on financial reporting.

PG

Fantastic webinar by Jennifer for providing us timely information on COVID-19. very passionate about this topic and it shows in how clear, she explains everything and answers all the questions to the audience.

AT

Jennifer discussed information that is very useful in understanding and gaining knowledge about the reporting financial statements. She shared some real-life examples on risk & uncertainty disclosures of companies.

JP

Jennifer provided the latest possible information on implications triggered by various U.S. GAAP. She was able to distill some of the current and most relevant items we need to know

DL

The information presented at this webinar was extremely informative and helped clarify a number of questions I had with respect to the financial statements and audits.