Selected Topics in GAAP Webinar

To provide CPAs and other financial professionals with a survey of key topics in US GAAP. You’ll explore the rules for subsequent events, fair value, going concerns and more.

• FASB updates
• Goodwill impairment
• Deferred taxes
• Contingencies, uncertainties, guarantees and use of "more likely than not"
• Fair value and Other-Than-Temporary Impairment (OTTI)
• R&D and advertising
• Nonmonetary transactions
• Subsequent events
• Going concerns and the liquidation basis of accounting
• Accounting for deferred taxes, including changes from the FASB Simplification Initiative
• Fair value
  – FAS 159
  – Other-Than-Temporary Impairment (OTTI)
  – Non-active and distressed markets
  – Financial instruments
  – Credit losses
  – Codification improvements
   

To provide CPAs and other financial professionals with a survey of key topics in US GAAP. You’ll explore the rules for subsequent events, fair value, going concerns and more.

DETAILED LEARNING OBJECTIVES

• Determine the disclosure requirements for business combinations occurring after the reporting period but before financial statement issuance

• Identify required disclosures for transactions recognized separately from a business combination

• Identify the disclosure requirements for acquisition-related costs

• Explain how individually immaterial but collectively material business combinations should be disclosed

• Identify required disclosures for measurement-period adjustments

• Determine which entities may apply the accounting alternative for identifiable intangible assets

• Identify the financial assets eligible for the ASU 2025-05 practical expedient

• Determine when an entity may conclude that no expected credit loss should be measured

• Identify the characteristics required for an asset to qualify as a crypto asset under ASU 2023-08

• Identify the annual rollforward disclosures required for crypto-asset holdings

• Explain why ASU 2025-06 eliminated prescriptive software-development project stages

• Determine the accounting treatment when internal-use software capitalization requirements are no longer met

• Identify the transition approaches permitted under ASU 2025-06

• Identify the expense disclosures required by ASU 2024-03

• Determine the initial adoption dates for the expense-disaggregation disclosure requirements

• Determine the appropriate balance-sheet classification of environmental remediation liabilities

• Identify the appropriate income statement presentation of environmental remediation recoveries

• Determine the subsequent measurement of compliance environmental credits

• Evaluate whether a voluntary environmental commitment creates an environmental credit obligation

• Determine when an impairment loss should be recognized for a noncompliance environmental credit

• Distinguish monetary transactions from nonmonetary transactions

• Determine when revenue and expense may be recognized for an advertising barter transaction

• Apply the Topic 360 recoverability test to tangible assets and asset groups

• Identify the proper sequence for testing assets and goodwill for impairment

• Identify the entities eligible to elect the goodwill amortization alternative

• Identify the industry reporting the largest goodwill impairment charges in the 2026 Kroll study

• Distinguish the Modified Capital Asset Pricing Model from the traditional Capital Asset Pricing Model

• Evaluate forecasting risk associated with projected cash flows

• Determine when components may be aggregated into a single reporting unit

• Determine how goodwill impairment losses are allocated when a reporting unit includes a noncontrolling interest

• Identify relevant factors in a qualitative goodwill impairment assessment

• Explain how an entity may elect to use the qualitative goodwill impairment assessment

• Identify valuation methods used in a quantitative goodwill impairment assessment

• Define the near-term period used in risks-and-uncertainties disclosures

• Determine the initial measurement of a guarantor’s liability under FIN 45

• Identify circumstances requiring application of the more-likely-than-not threshold

• Distinguish the more-likely-than-not model from the traditional FAS 5 contingency model

• Apply the class-or-stratum approach to select an estimated amount

• Determine how the expected-value and class-or-stratum approaches should be applied

• Identify appropriate going concern terminology for compilation and review reports

• Identify external indicators of potential going concern uncertainty

• Identify management actions that may mitigate substantial doubt about an entity’s ability to continue as a going concern

• Evaluate whether management’s plans alleviate substantial doubt about an entity’s ability to continue as a going concern

• Identify the financial statements required under the liquidation basis of accounting

• Apply the ASU 2023-09 threshold for separately disclosing income tax rate-reconciliation items

• Determine the initial measurement of contributions received upon joint venture formation

• Calculate goodwill recognized upon the formation of a joint venture

• Explain how floating interest rates affect the fair value of debt

• Determine the treatment of transaction costs in a fair value measurement

• Identify the appropriate market for measuring fair value when a principal market exists

• Identify valuation techniques included in the market approach

• Explain how fair value is estimated using the income approach

• Classify observable inputs within the fair value hierarchy

• Identify financial instruments excluded from the fair value option under FAS 159

• Determine how a transaction price should be considered when the transaction is not orderly

• FASB updates
• Goodwill impairment
• Deferred taxes
• Contingencies, uncertainties, guarantees and use of "more likely than not"
• Fair value and Other-Than-Temporary Impairment (OTTI)
• R&D and advertising
• Nonmonetary transactions
• Subsequent events
• Going concerns and the liquidation basis of accounting
• Accounting for deferred taxes, including changes from the FASB Simplification Initiative
• Fair value
  – FAS 159
  – Other-Than-Temporary Impairment (OTTI)
  – Non-active and distressed markets
  – Financial instruments
  – Credit losses
  – Codification improvements