The Basics of Accounting for Financial Instruments: The Good, The Bad, & The Ugly

2 Credits: Accounting


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The Basics of Accounting for Financial Instruments: The Good, The Bad, & The Ugly

Course Level
CPE Credits

2 Credits: Accounting

Course Description

Navigating the intricate world of financial instruments accounting under GAAP can be as challenging as traversing a rugged Western landscape. With a multitude of classifications, valuation methods, and disclosure requirements, professionals can easily find themselves lost in the complexity. This CPE webinar course, themed around the adventurous spirit of 1960s spaghetti westerns, is your guide through this challenging terrain. The course starts by identifying the problem: the complexity and diversity of financial instruments under GAAP. It agitates this issue by delving into the difficulties of finding authoritative guidance and applying the general requirements for these instruments, especially the more complex ones. But fear not, the solution is here. The CPE  course simplifies these challenges by categorizing financial instruments into three groups: good, bad, and ugly, based on their complexity. Instructor Jeff brings his unique sense of humor to make this journey engaging and memorable. By the end of this CPE webinar course, you’ll be equipped not just with theoretical knowledge, but with practical skills to confidently classify, value, and disclose various financial instruments in your financial reports, turning a daunting task into an achievable feat.

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Learning Objectives

Upon completion of this course, participants will be able to:

  • Identify various types of financial instruments under GAAP;
  • Locate authoritative guidance related to financial instruments;
  • Apply the general requirements for the most common financial instruments; and
  • Explain the requirements for more complex financial instruments.
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Course Specifics

Course ID
Revision Date
January 2, 2024


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

Jeff Sailor Headshot

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 …