Self-Study
Navigating Debt Changes – Accounting for Modifications & Extinguishments
Price range: $58.00 through $78.00
Webcasts are available for viewing Monday – Friday, 8am – 8pm ET,
and Saturday & Sunday, 10am – 6pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Intermediate
Format
Self-Study
Course Description
This course provides an overview of the accounting guidance for debt modifications and exchanges under ASC 470-50. It begins with the framework for determining whether a change in debt terms results in an extinguishment and covers key concepts such as debtor and creditor identification, transactions involving third party intermediaries, and the 10% cash flow test. The course also discusses how to evaluate fees and costs related to debt modifications, including fees between debtors and creditors, third party costs, and modifications to revolving debt arrangements. Throughout, you’ll gain practical insight into how to assess whether a debt modification results in extinguishment accounting or continued accounting for the existing debt arrangement.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the scope and application of ASC 470 50 for debt modifications and exchanges
- Determine whether a debt modification or exchange results in an extinguishment
- Recognize the factors used to evaluate debtor, creditor, and third party intermediary relationships
- Determine how to apply the 10% cash flow test for debt modifications and exchanges
- Identify the accounting treatment for fees, costs, and revolving debt arrangements
Course Specifics
SS126485695
August 6, 2026
There are no prerequisites.
None
51
Compliance Information
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
Kelen is a recognized author and reviewer of CPE courses and has authored over 230 courses (570+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple-choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has over 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP. Prior to HP, he served in …
QAS Self-Study
