[WEB] Financial Reporting Implications of the COVID-19 Pandemic

Course Details

Date

Friday, June 17, 2022

8:30am – 12:00pm
(Registration: 8:30am)

Course Number

FRC4

CPE Credit

4.0 hours CPE credit

Instructor

Level of Knowledge

Intermediate

Vendor

Surgent McCoy CPE, LLC

Prerequisites

Experience in accounting and auditing

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.

Highlights

  • 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

Objectives

  • Recall common accounting implications of the COVID-19 pandemic
  • Identify the key accounting guidance for COVID-19related 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

Designed For

Accounting and auditing practitioners assisting in the preparation of financial statements

Course Pricing

Early Registration Member Fee

Applicable if you are a HSCPA member in good standing and register by June 8, 2022.

$150.00
Member Fee

Applicable if you are a HSCPA member in good standing.

$200.00
Early Registration Non-Member Fee

Applicable if you are not a HSCPA and register by June 8, 2022.

$300.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$350.00
Your Price $300.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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