World’s Liveliest Accounting Update with Ray Thompson

6 Credits: Accounting
Event Date: August 4, 2021 7:30 am


Availability: 20 in stock

Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

World’s Liveliest Accounting Update with Ray Thompson

Course Level
CPE Credits

6 Credits: Accounting
Event Date: August 4, 2021 7:30 am

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?

Show More
Show Less

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
Show More
Show Less

Course Specifics

Course ID

Experience with accounting and financial reporting

Advanced Preparation


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)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Ray Thompson Headshot

Dr. Ray Thompson, CBA, CFM, CMA, is an emeritus associate professor of accounting and finance at the University of Pittsburgh. He served as department head at the University of Pittsburgh at Johnstown (UPJ) campus for over 25 years. He was the associate director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups. He has taught in graduate and undergraduate business programs in Europe, Africa, and the United States. Ray received his BS and MS degrees in economics and systems dynamics from the University of Bradford in …

Ray Thompson, CBA, CFM, CMA Read More »

Related Courses

No items found