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21WS-0117: Surgent's Financial Reporting Implications of the COVID-19 Pandemic (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Thursday, May 20, 2021
Time 8:00am - 11:30am
Central Time
Location Online
CPE credits CPE 4.0
Field(s)
of study
Accounting - Technical (4.0)
Instructor Richard Daisley, CPA
Surgent
Fees
Standard Member Fee $169.00
Standard Nonmember Fee $169.00

Description

In addition to being a significant business interrupter for many entities, the impact of the COVID-19 pandemic will also create significant financial reporting implications for virtually all entities. Many formerly profitable entities will be looking at charges for once unthought-of circumstances, from fixed asset impairment to inventory and receivables write-downs. Further, many entities will need to account for debt and other contractual modifications, including restructuring, forgiveness, and debt covenant modifications. Applying this often-complex accounting guidance in these areas may be challenging.

In this course, we will review in detail the accounting guidance that many entities will need to apply when preparing their next set of financial statements. We will also review disclosure guidance for such topics as going concern considerations and subsequent events as well as other relevant financial statement recognition and presentation issues.

Who should take this program?

Accounting and auditing practitioners assisting in the preparation of financial statements

Major subjects

  • Impairment accounting model for long-lived assets, including PP&E and goodwill
  • Accounting for inventory and accounts receivable reserves
  • Accounting for debt restructurings, including troubled debt restructurings, rent holidays, and other revisions to debt agreements
  • Going concern evaluation and required disclosures
  • Other financial statement presentation and disclosure issues

Learning objective(s)

  • Recall common accounting implications of the COVID-19 pandemic
  • Identify the key accounting guidance for COVID-19-related accounting issues
  • Discuss the required considerations and disclosures related to going concern
  • Identify other relevant financial statement presentation and disclosure topics related to COVID-19

Notes:

Course code Code 21WS-0117
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Experience in accounting and auditing
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.