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22WS-0335: 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.

Friday, June 24, 2022
8:00am - 11:30am Central Time
4 CPE (4 technical)

In addition to being a significant business interrupter for many entities, the financial impact of the COVID-19 pandemic is still creating a significant financial reporting impact 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, as well as the receipt and forgiveness of Paycheck Protection Program loans. 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.

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

Who should take this program?

Accounting and auditing practitioners assisting in the preparation of financial statements

Fees

Our records indicate you are a nonmember. If you register, you will be charged $159.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $159.00
checkmark Standard Nonmember Fee $159.00

More program information

Instructor Richard Daisley, CPA
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Accounting - Technical (4.0)
Level Intermediate
Format Group Internet Based
Sponsor Surgent
NASBA ID#: 103212
Prerequisites Prereq. Experience in accounting and auditing
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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