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Tuesday, June 29, 2021 Live Webcast

Financial Reporting Implications of the COVID-19 Pandemic (E2106152)

1:00 PM - 4:30 PM EDT

Registration: 12:30 PM EDT

webcast

Vendor Platform

4.0 CPE Credits in AA

OVERVIEW

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.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Accounting and auditing practitioners assisting in the preparation of financial statements

BENEFITS

  • 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.

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

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in accounting and auditing.

ADVANCE PREPARATION

None

INSTRUCTOR

Joann Noe Cross

Joann Noe Cross, CPA, Ph.D., CMA, CGFM

Joann Noe Cross is an Emeritus Professor of Accounting at the University of Wisconsin-Oshkosh. Her research interests are in accounting history and the uses of financial information. Joann is a member of numerous professional and academic organizations. She is also active in her community, having served in the past as Treasurer of the local United Way and currently serving on the Board of several small charities. In addition, Dr. Cross presents numerous accounting and auditing seminars around the country, speaks at various conferences throughout the year, and maintains an active consulting practice. In 2015 and 2016, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Joann received her B.S. in Mathematics from the University of Wisconsin-Madison and her Ph.D. in Accountancy from the University of Illinois-Urbana.

PRICING

$189.00 - Member

$264.00 - Nonmember

Register Today


Note: Online pre-registration will close on June 29 at 12:30 PM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent