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
