Author : | Steven C Fustolo, CPA, MBA |
Course Length : | Pages: 201 ||| Word Count: 92,845 ||| Review Questions: 87 ||| Final Exam Questions: 80 |
CPE Credits : | 16.0 |
IRS Credits : | 0 |
Price : | $125.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2002 |
Description : | The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance, leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The structure of the course is to encourage the reader to recall existing GAAP rules coupled with identifying, stating and outlining rules related to new and proposed pronouncements. The course also includes a discussion of accounting and financial reporting issues related to COVID-19, PPP loans, the Employee Retention Credit (ERC), and the Pass-Through Entity (PTE) Tax. |
Usage Rank : | 0 |
Release : | 2022 |
Version : | 1.0 |
Prerequisites : | General understanding of U.S. GAAP. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Financial Accounting
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 23-May-2022 |
NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - 2002 |
Keywords : | Accounting, Current, Developments, 2022, Accounting, Financial, Reporting, cpe, cpa, online course |
Learning Objectives : |
Chapter I
Chapter II
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Course Contents : | Chapter I - Latest Developments on the Accounting Front A. Significant GAAP Changes in 2022 and Beyond B. Reporting Information About the Financial Performance of Business Enterprises Review Questions C. Restatements and Other Financial Reporting Abuses D. The Gradual Demise of Company Pension Plans Review Questions E. International Accounting Standards Convergence F. LIFO in a New High-Inflation Environment G. The Latest on Fair Value Accounting Review Questions H. FASB Issues New Lease Standard – ASU 2016-02 I. The GAAP Codification Overview Review Questions J. Big GAAP-Little GAAP K. Going-Concern Assessment by Management L. Sustainability and ESG Standards Is a Hot Issue Review Questions M. FASB Classification Shifting using Discontinued Operations Rules N. Post-Petition Update on Revenue Recognition Standard O. FASB Move to Amortize Goodwill Again P. Earnings Manipulation Review Questions Q. Accounting and Auditing Issues Related to the Coronavirus (COVID-19) R. Accounting for PPP loans S. Accounting and Disclosures for the Employee Retention Credit (ERC) T. Accounting and Disclosures for the Pass-Through Entity (PTE) Tax Review Questions U. Deferred Income Taxes, NOLs and Other Tax Matters V. Accounting, Auditing and Tax Issues Related to Marijuana W. Order of Placement of Financial Statements X. Risk of Unrecorded Sales Tax Liabilities- Wayfair Decision Review Questions Y. The Statement of Cash Flows – Unusual Reporting Issues Review Questions Chapter II - Accounting Standards Updates (ASUs) ASU 2021-03: Intangibles—Goodwill and Other (Topic 350), Accounting Alternative for Evaluating Triggering Events ASU 2019-12: Income Taxes (Topic 740)- Simplifying the Accounting for Income Taxes ASU 2019-06: Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958) ASU 2018-17: Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities Review Questions Glossary |