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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 51 ||| Word Count: 32,593 ||| Review Questions: 16 ||| Final Exam Questions: 25 |
CPE Credits: |
5.0 |
IRS Credits: |
0 |
Price: |
$44.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course provides an overview of two of the most popular SEC comment letter topics, Management Discussion and Analysis and Non GAAP Financial Measures.
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Frequently Asked Questions: |
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Description: |
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 companies by the SEC. |
Usage Rank: |
21111 |
Release: |
2022 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
External: Management Discussion and Analysis - MD&A
External: Non‑GAAP Financial Measures (SEC Compliance & Disclosure Interpretations)
External: Trends in 2024 SEC Staff Comment Letters (EY summary
Internal: SEC Reporting Essentials | Climate Disclosures, Non‑GAAP Measures & MD&A
Internal: GAAP CPE Courses For CPAs
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
06-Mar-2026 |
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. |
Keywords: |
SEC Hot Topics - MDandA and Non-GAAP Financial Measures - CPE course for CPAs |
Learning Objectives: |
Chapter 1
Chapter 2
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Course Contents: |
Chapter 1 - Management’s Discussion & Analysis Chapter Learning Objectives Introduction Where Do I Go For Guidance? Objective of MD&A Item 303 – Full Fiscal Year Requirements Item 303 – Liquidity and Capital Resources Item 303 – Liquidity and Capital Resources – Illustrative Examples Review Questions Item 303 – Results of Operations Item 303 – Results of Operations – Illustrative Examples Review Questions Item 303 – Critical Accounting Estimates Item 303 – Critical Accounting Estimates – Illustrative Examples Item 303 – Interim Reporting Requirements Item 303 – Interim Reporting Requirements – Illustrative Examples SEC Views – How to Improve MD&A Big 4 Views – Comment Letter Analysis on MD&A Summary Review Questions Chapter 2 - Non-GAAP Financial Measures Chapter Learning Objectives Introduction What is a Non-GAAP Financial Measure? Examples of Non-GAAP Financial Measures Where Do Non-GAAP Financial Measures Show Up? Review Questions What Drove the Increase in Use of Non-GAAP Financial Measures Why Do Regulators Care About Non-Financial Measures? Where Do I Look to For Guidance? Regulation G Review Questions Regulation S-K SEC Compliance & Disclosure Interpretations Misleading Concerns Earnings Management Prominent Presentation Tax Impacts EBIT & EBITDA Free Cash Flow Segment Information The SEC is Watching Illustrative Examples – SEC Comment Letters Review Questions Glossary of Key Terms |
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