Update
CPE Credits
6 Credits: Accounting
Course Description
Businesses are recovering from Covid disruptions at different rates and face different reporting challenges. Many are also playing catch up to fully implement recent standards involving revenue recognition and leases. In this upbeat course, instructor Ray Thompson brings his unique presentation style to the classroom. Learn about the latest accounting pronouncements, future issues, and alternatives to GAAP, all presented in a clear and practical fashion. Course topics will be updated on an ongoing basis throughout the year. After attending this course, you will be informed of the latest trends, standards, and updates in accounting today.
Course Coverage
Note: Content will be geared to the interests of the audience (public & non-public companies, CPA’s in industry and public practice)
- FASB overview & current priorities
- Lease Accounting: where are we now?
- Accounting challenges in post-COVID economic disruption
- Impairment and restructurings: practical guidance
- Debt: covenants, classification and forgiveness
- Revenue recognition: remaining implementation issues
- The credit losses (CECL) model: impact on bad debts accounting
- Private company reporting, recent standards
- The Simplification Initiative: progress to date
- Current and forthcoming FASB standards (debt classification, cloud computing)
- Not-for-Profit reporting, distinguishing revenue from contributions
Does GAAP reporting make sense in a hi-tech economy?
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the most significant challenges in financial reporting today
- Implement reporting standards for impairment, restructuring and going concern
- Understand the interaction of debt classification, loan modifications and forgiveness guidance.
- Evaluate the impact of the new lease standard and its implementation
- Take a retrospective view of how well we have implemented revenue recognition standard and what remains to be done
- Prepare for the credit losses (CECL) standard and understand the demands it will place on non-financial companies
- Apply the reporting exceptions provided by the Private Company Council
- Apply recent FASB standards under the simplification initiative
- Identify other changes to the standards that are on FASB’s horizon
- Apply the main provisions of the new standards for not-for-profit entities
Course Specifics
|
Course ID 21CScottsdale-LE20227046 |
Prerequisites Experience with accounting and financial reporting |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software. Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights …
World's Liveliest Accounting Update with Jeff Sailor
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Update
CPE Credits
6 Credits: Accounting
Course Description
Businesses are recovering from Covid disruptions at different rates and face different reporting challenges. Many are also playing catch up to fully implement recent standards involving revenue recognition and leases. In this upbeat course, instructor Ray Thompson brings his unique presentation style to the classroom. Learn about the latest accounting pronouncements, future issues, and alternatives to GAAP, all presented in a clear and practical fashion. Course topics will be updated on an ongoing basis throughout the year. After attending this course, you will be informed of the latest trends, standards, and updates in accounting today.
Course Coverage
Note: Content will be geared to the interests of the audience (public & non-public companies, CPA’s in industry and public practice)
- FASB overview & current priorities
- Lease Accounting: where are we now?
- Accounting challenges in post-COVID economic disruption
- Impairment and restructurings: practical guidance
- Debt: covenants, classification and forgiveness
- Revenue recognition: remaining implementation issues
- The credit losses (CECL) model: impact on bad debts accounting
- Private company reporting, recent standards
- The Simplification Initiative: progress to date
- Current and forthcoming FASB standards (debt classification, cloud computing)
- Not-for-Profit reporting, distinguishing revenue from contributions
Does GAAP reporting make sense in a hi-tech economy?
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the most significant challenges in financial reporting today
- Implement reporting standards for impairment, restructuring and going concern
- Understand the interaction of debt classification, loan modifications and forgiveness guidance.
- Evaluate the impact of the new lease standard and its implementation
- Take a retrospective view of how well we have implemented revenue recognition standard and what remains to be done
- Prepare for the credit losses (CECL) standard and understand the demands it will place on non-financial companies
- Apply the reporting exceptions provided by the Private Company Council
- Apply recent FASB standards under the simplification initiative
- Identify other changes to the standards that are on FASB’s horizon
- Apply the main provisions of the new standards for not-for-profit entities
Course Specifics
|
Course ID 21CScottsdale-LE20227046 |
Prerequisites Experience with accounting and financial reporting |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software. Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights …