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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 249 ||| Word Count: 10,4312 ||| Review Questions: 48 ||| Final Exam Questions: 80 |
| CPE Credits : | 16.0 |
| IRS Credits : | 0 |
| Price : | $125.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2015 |
| Description : |
This course provides an overview of several of the key accounting and reporting topics within U.S. GAAP. This includes a discussion of accounting for business combinations, revenue recognition principles, and leasing transactions. This course also address topics such as goodwill impairment, litigation, how to account for software (both internal-use and for resale), requirements related to accounting changes and error corrections, as well as the appropriate use of Non-GAAP financial measures. |
| Usage Rank : | 60690 |
| Release : | 2025 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Generally Accepted Accounting Principles (GAAP)
|
| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 07-Apr-2025 |
| 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 - NASBA Registry - 2015 |
| Keywords : | Accounting, GAAP, Hot, Topics, Need, Know, cpe, cpa, online course |
| Learning Objectives : |
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
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| Course Contents : | Chapter 1 - Accounting for Business Combinations Learning Objectives Chapter Overview Introduction Definition of a Business The Acquisition Method Step 1: Identifying the Acquirer Step 2: Determining the Acquisition Date Review Questions Step 3: Recognizing/Measuring Identifiable Assets & Liabilities Review Questions Step 4: Recognizing and Measuring Goodwill or Gain from a Bargain Purchase Measurement Period Business Combination Achieved in Stages Subsequent Measurement Reverse Acquisitions Private & Not-For-Profit Accounting Alternatives Conclusion Review Questions Chapter 2 - Revenue Recognition Learning Objectives Chapter Overview Introduction Step 1: Identify the Contract(s) with a Customer Step 2: Identify the Performance Obligations in the Contract Review Questions Step 3: Determine the Transaction Price Step 4: Allocate Transaction Price to Performance Obligations Step 5: Recognize Revenue When (or as) Performance Obligations are Satisfied Conclusion Review Questions Chapter 3 - Lease Transactions Learning Objectives Chapter Overview Introduction Scope Lease Determination Lessee Lease Classification Recognition and Measurement Review Questions Subsequent Measurement Illustrative Example – Lessee Accounting Lessor Accounting Lease Modifications Sale and Leaseback Transactions Review Questions Financial Statement Presentation Requirements Disclosure Requirements Top Challenges in ASC 842 Conclusion Review Questions Chapter 4 - Goodwill Impairment Learning Objectives Chapter Overview Introduction Business Combination Refresher Initial Recognition of Goodwill Overall Accounting for Goodwill Impairment Testing Requirements Qualitative Test vs. Quantitative Test Review Questions Performing the Qualitative Test Performing the Quantitative Test Income Tax Considerations Goodwill Impairment Accounting Alternative Goodwill Disclosures for Public Entities Goodwill Disclosures for Accounting Alternative Conclusion Review Questions Chapter 5 - Litigation & Legal Contingencies Learning Objectives Chapter Overview Introduction Types of Legal Disputes Importance of Accurate Evaluation Applicable U.S. GAAP Guidance Likelihood of Litigation Outcomes Assessing the Likelihood of Litigation Outcomes Review Questions Role of Legal Counsel Asserted vs. Unasserted Claims Recognition and Measurement of Legal Contingencies Gain Contingencies Financial Statement Disclosures Conclusion Review Questions Chapter 6 - Accounting for Software Learning Objectives Chapter Overview Introduction What is and is not Internal-Use Software? Scope of Internal-Use Software Guidance Stages of Software Development Preliminary Project Stage Application Development Stage Postimplementation-Operation Stage Upgrades & Enhancements Commencement of Capitalization Amortization – Non-Cloud Based Arrangements Amortization – Cloud Based Arrangements Impairment Considerations From Internal-Use to External Presentation Requirements Disclosure Requirements Review Questions Switching Gears – Software for Resale Scope Technological Feasibility Costs Incurred After Technological Feasibility Production Costs Inventory Costs Purchased Software for Resale Funded Software Development Arrangements Amortization of Capitalized Costs Conclusion Review Questions Chapter 7 - Accounting Changes and Error Corrections Learning Objectives Chapter Overview Introduction Changes in Accounting Principle Accounting for the Change in Accounting Principle Review Questions Justifying a Change in Accounting Principle Change in Accounting Principle – Illustrative Example Disclosures Required for Changes in Accounting Principles Change in Accounting Estimate Change in Reporting Entity Review Questions Accounting for Correction of Errors Internal Control Considerations Conclusion Review Questions Chapter 8 - Non-GAAP Financial Measures Learning Objectives Chapter Overview 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 Conclusion Review Questions Glossary of Key Terms |
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