Online-Live
Financial Reporting Implications of the COVID-19 Pandemic (4-hour PM Session)
Monday, September 20, 2021 | 1:00 pm - 4:30 pm
Course # 125136 | by Surgent CPE
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Speakers: Daryl G. Krause
Time: 1:00 pm - 4:30 pm
Course Credits: 4.0
Earn Up To: 4.0 AA credits
Level: Intermediate
Vendor: Surgent CPE

What you will learn

  • 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

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’ll review in detail the accounting guidance that many entities will need to apply when preparing their next set of financial statements. We’ll 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.

Prerequisites:
Experience in accounting and auditing

Advanced Preparation:
None

PRICING DETAILS
Register early to take advantage of the best price! Please note, discounted pricing is already reflected in the online price. No promo code is needed.
Through August 23: $182 MICPA Members / $257 Non-Members
August 24 - September 6: $192 MICPA Members / $267 Non-Members
September 7- September 20: $202 MICPA Members / $277 Non-Members

  • 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

 

Accounting and auditing practitioners assisting in the preparation of financial statements

 

  • Daryl G. Krause
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