|
Are you a California CNA?
The purpose of this course is to inform the reader of the various changes affecting accounting and financial reporting, as well as a review and recall of existing accounting standards. Topics include a summary of newly issued FASB statements, current and pending developments, practice issues, and more.
Course Publication Date: July 22, 2020
This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $160.00!
Author: | Steven Fustolo |
Course No: | ACT-FASB-6100 |
Recommended CPE: | 16.00 |
Delivery Method: | QAS Self Study |
Level of Knowledge: | Overview |
Prerequisites: | None |
Advanced Preparation: | None |
Recommended Field of Study: | Accounting
|
|
|
|
Learning Objectives
- Identify types of subsequent events that require disclosure.
- Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules.
- Identify the definition of near term.
- Recall the frequency in which an entity should test goodwill for impairment.
- Recognize the formula for testing goodwill impairment.
- Recall how to classify business interruption insurance proceeds on the financial statements.
- Identify a method that can be used to measure variable consideration revenue.
- Recognize an example of a construction-type contract.
- Identify a tax-law change made by the CARES Act, and.
- Recognize how a company should present CARES Act loan forgiveness on its financial statements.
- Identify a characteristic of a multi-employer plan.
- Recall the color coding of funded status of a multi-employer plan.
- Recognize an argument for not amortizing goodwill.
- Identify an example of a customer-related asset.
- Recognize the types of agreements that qualify as contracts under the revenue standard.
- Recall a condition that must be met to identify a separate performance obligation.
- Identify at least one method authorized to estimate variable consideration in a contract.
- Recognize information that can be used to allocate the transaction price to performance obligations.
- Identify at least one method that are used to record revenue in Step 5 of the revenue standard.
- Recognize when a good is considered transferred to a customer under ASC 606.
- Recognize how to account for the transfer of a product with a right to return.
- Recall the general rule that determines whether an entity should record revenue gross or net.
- Identify some of the general rules to account for license revenue.
- Recall how certain contract costs are accounted for under the revenue standard, and.
- Recognize certain disclosures required by the revenue standard for nonpublic entities.
- Recognize a key change made to GAAP by the new lease standard.
- Identify a type of lease that exists for a lessee under ASU 2016-02.
- Recall a type of lease for which the ASU 2016-02 rules do not apply.
- Recognize some of the criteria that determine whether a contract is or is not a lease.
- Identify how a lessee should account for initial direct costs.
- Recall how a lessor should initially account for initial direct costs for a lease in certain instances.
- Identify how a lessor should account for lease payments received on the income statement for an operating lease.
- Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02.
- Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios.
- Identify the category of securities for which ASU 2016-01 retains the three categories under existing GAAP.
- Recall one of the changes made by ASU 2016-01 to existing GAAP for financial instruments.
- Recall how available-for-sale debt securities are measured on an entity’s balance sheet.
- Identify how held to maturity securities are measured on the balance sheet.
- Recognize how an entity should account for a temporary impairment.
- Recall how an entity should present an unrealized gain or loss on an equity security under ASU 2016-01.
- Identify how a mutual fund that invests in debt and equity securities should classify the investment.
- Recall a change made to the exemption for fair value disclosures with respect to trade receivables and payables.
- Recognize the model that ASU 2016-13 uses to deal with credit losses.
- Identify how credit losses should be recorded under new ASU 2016-13.
- Identify some of the disclosures required by ASU 2016-13.
|
|
|