CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Current Challenges and Key Risks for CPAs and Finance Professionals 2020

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Webcast
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Credits
CPE Credits
6 Credits: Accounting

Course Description

We are living through some of the most significant changes in financial reporting the profession has experienced in a generation. Changes to revenue recognition, lease accounting and credit losses are a triple threat making it difficult for the average CPA to keep up. 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.

Note: Content will be geared to the interests of the audience (public vs. non-public companies, CPA’s in industry and public practice)

Highlights include:

  • FASB overview & current priorities
  • Lease Accounting: are you ready?
  • Revenue recognition: remaining implementation issues
  • The credit losses (CECL) model impact on bad debts accounting
  • Financial Instruments: recent and forthcoming standards
  • Private Company Council: current initiatives (VIE consolidation, etc.)
  • 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 facing financial reporting today
  • Implement the main provisions of the new lease standard
  • 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 exceptions provided by the Private Company Council
  • Apply recently enacted standards FASB has promulgated under the Simplification Initiative
  • Understand how accounting for financial, instruments, and credit losses are changing
  • Identify other changes to the standards that are on FASB’s horizon
  • Apply the main provisions of the new standards

Course Specifics

Course ID
WC1120215386
Original Release Date
September 10, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Ray Thompson Headshot
Ray Thompson, CBA, CFM, CMA

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 …

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Current Challenges and Key Risks for CPAs and Finance Professionals 2020

Expert Instructors
CPE CREDITS
6 Credits: Accounting

$294.00

Icon_Webcast
Webcast
Icon_Level
Update
Credits
CPE Credits
6 Credits: Accounting

Course Description

We are living through some of the most significant changes in financial reporting the profession has experienced in a generation. Changes to revenue recognition, lease accounting and credit losses are a triple threat making it difficult for the average CPA to keep up. 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.

Note: Content will be geared to the interests of the audience (public vs. non-public companies, CPA’s in industry and public practice)

Highlights include:

  • FASB overview & current priorities
  • Lease Accounting: are you ready?
  • Revenue recognition: remaining implementation issues
  • The credit losses (CECL) model impact on bad debts accounting
  • Financial Instruments: recent and forthcoming standards
  • Private Company Council: current initiatives (VIE consolidation, etc.)
  • 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 facing financial reporting today
  • Implement the main provisions of the new lease standard
  • 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 exceptions provided by the Private Company Council
  • Apply recently enacted standards FASB has promulgated under the Simplification Initiative
  • Understand how accounting for financial, instruments, and credit losses are changing
  • Identify other changes to the standards that are on FASB’s horizon
  • Apply the main provisions of the new standards

Course Specifics

Course ID
WC1120215386
Original Release Date
September 10, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Ray Thompson Headshot
Ray Thompson, CBA, CFM, CMA

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 »

Current Challenges and Key Risks for CPAs and Finance Professionals 2020

Expert Instructors
CPE CREDITS
6 Credits: Accounting

$294.00