Surgent's Financial Reporting Implications of the COVID-19 Pandemic

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.

Date/Time

Thursday, May 6, 2021
Registration Time: 8:00am
8:00am – 11:30am

Add to Outlook calendar

Course Type

On-line Live Vendors

CPE Credit

4.00 hours CPE credit

Field of Study

Accounting

Level of Knowledge

Intermediate

Designed For

Accounting and auditing practitioners assisting in the preparation of financial statements

Vendor

Surgent McCoy CPE, LLC

Prerequisites

Experience in accounting and auditing

Advanced Preparation

None

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-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

Location

N/A (This is a webcast)
Member Fee $169.00
Non-Member Fee $169.00
Your Price $169.00

Registration for this course has passed.

View more conferences and courses

Registered for CPE? Log in to download electronic course materials.