Designed to keep you up to date on recent activity of the Financial Accounting Standards Board (FASB), this course will summarize recently issued Accounting Standards Updates (ASUs) issued by the FASB in 2020 and 2021 year to date. The course will discuss the main provisions of the ASU, application guidance, and information on transition and...
Fraud continues to be at record highs. According to NASDAQ's Global Financial Crime Report, fraud schemes and bank frauds led to global losses of over $485 billion. Four of the most cited frauds were customer fraud, cybercrime, asset misappropriation, and bribery and corruption. From global banking giants to local charities and mom-and-pop shops, no entities...
While many entities maintain inventory, they are often challenged when applying the complexities of inventory accounting. The goal of this course is to provide a detailed overview of inventory accounting concepts that can be applied to a variety of inventory types.The course will cover the basics of inventory capitalization, for both book and tax, as...
This course will provide a general understanding of the new reporting and disclosure requirements for employee benefit plans under the now effective SAS 136, the AICPA's new employee benefit plan auditing standard. Participants will be provided with an insight into the common errors and mistakes made by auditors and plan administrators, as well as the...
This course provides an overview of two of the most popular SEC topics which result in comment letters from the SEC. This includes a discussion of management's discussion and analysis (MD&A) as well as Non-GAAP Financial Measures. These two areas consistently rank in the Top 10 for the most frequent comment letters issued to public...
Stepping into the shoes of an outside technical consultant, each participant must perform an ASC 606 assessment for Quality Tiles, Inc. (QTI), a company recently acquired by Home D‚cor and More, Inc. (HDM). HDM management needs to ensure the company is in compliance with GAAP related to revenue recognition before the next board meeting. Participants...
The role of financial professionals has and continues to change in organizations. The stereotype of collecting and reporting data has been replaced by a broader vision, which focuses on improving an organization's results today and preparing it for the future. This brief program offers specific actions that can be implemented by financial personnel to expand...
This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes distinguishing between recognizing revenue over time versus at a point in time as well as principal versus agent considerations.