Accounting and Financial Reporting for COVID-19 and the CARES Act

Course Description:

The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the 2020 CARES Act, including accounting for Paycheck Protection Program (PPP) loans and forgiveness.

Topics include: Disclosures of risks and uncertainties; impairment issues related to goodwill and other long-lived assets; accounting for variable consideration revenue and onerous contracts; dealing with inventory costs and stock market investment losses; collectability of trade receivables; loan modification; dealing with business interruption insurance.With respect to the CARES Act, the course discusses the accounting for PPP loansand forgiveness, accounting for tax changes made by the CARES Act, and more.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

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
Identify a method that can be used to measure variable consideration revenue
Recognize an example of a construction-type contract subject to the onerous contract rules
Recognize how to account for PPP loan forgiveness
Identify how to treat the forgiveness of a PPP loan for tax purposes

Course Number:	SF2005
NASBA Field of Study:	Accounting
Level:	Overview
Author/Instructor:	Steven C. Fustolo
Publication Date:	November 2021
CPE Credits:	2
Program Prerequisites:	General understanding of accounting, financial reporting, auditing and compilation and review standard
Advanced Preparation:	None

Course Format: Online
Test Format: Online
CPE Credit: 2
Level: Overview
NASBA Field of Study: Accounting
Instructional Method: Self Study
Program Prerequisites: General understanding of accounting and financial reporting standards
Advanced Preparation: None

Our Price: $29.95
You Save
Credit Hours 2

Average rating : No Rating

0 Comments

Write a review [Rating Stars (5=Best)]

Rating *

Location

Subject

Name *

Email *

Details *

Self Study

Stay up to date on the latest changes...

Accounting and Financial Reporting for COVID-19 and the CARES Act

0 Comments

Write a review [Rating Stars (5=Best)]

Quick Link

Help

Account

How may we Help you?

Connect with us

Self Study

Stay up to date on the latest changes...

Accounting and Financial Reporting for COVID-19 and the CARES Act

0 Comments

Write a review [Rating Stars (5=Best)]

The Wait is Over

SIGNUP TODAY AND RECEIVE 8 HOURS OF FREE CPE CREDIT

Quick Link

Help

Account

How may we Help you?

Connect with us