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Overview

1.0 Credits
ONLINE

 

Objectives

  • Describe 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 continuing pandemic.
  • Explain important internal control considerations as financial statements must continue to be prepared during this tumultuous time.
  • List tips for public accounting professionals who must continue to provide audit, attest and accounting services to help clients satisfy internal and external reporting requirements.

Major Topics

  • Practical financial statement implications triggered by various U.S. GAAP and special purpose framework accounting, presentation, and disclosure matters, such as the following and more:
  • Subsequent events
  • 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
  • Going concern
  • Real-life examples of risk and uncertainty disclosures being made by public and nonpublic companies alike
  • 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 

Designed For


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

Prerequisite

None

Advanced Preparation

None
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