|
|
Browse Course
Are you a California CNA?
This course provides an overview of several of the key accounting and reporting topics within U.S. GAAP. This includes a discussion of accounting for business combinations, revenue recognition principles, and leasing transactions. This course also addresses topics such as goodwill impairment, litigation, how to account for software (both internal-use and for resale), requirements related to accounting changes and error corrections, as well as the appropriate use of Non-GAAP financial measures.
Course Publication Date: April 15, 2025
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: | Kelen Camehl |
| Course No: | ACT-GAAPHOT-16925 |
| 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 the definition of a business as it relates to a business combination transaction.
- Recognize steps involved in the acquisition method.
- Recognize how assets and liabilities of a business combination are recorded/measured.
- Identify how to measure goodwill and gains from bargain purchases.
- Identify the measurement period for business combinations.
- Recognize the relief afforded to private and not-for-profit entities for business combinations.
- List the five steps involved in the revenue recognition model.
- Recognize the considerations involved in identifying whether a contract exists.
- Identify the considerations involved with measuring the transaction price.
- Recognize the steps involved in allocating the transaction price to performance obligations.
- Determine whether an arrangement contains a lease as well as how to classify that lease.
- Recognize the recognition and measurement requirements for both lessees and lessors.
- Identify the classification criteria for sales-type, direct financing, and operating leases.
- Identify the overall requirements for lease modifications.
- Recognize the criteria used for sale and leaseback transactions.
- Identify the presentation requirements for both lessees and lessors.
- Identify the recognition requirements related to goodwill.
- Recognize overall characteristics of goodwill impairment testing.
- Differentiate between the qualitative and quantitative test of goodwill impairment.
- Identify key characteristics of the accounting alternative for goodwill.
- Recognize the key disclosure requirements for goodwill and goodwill impairment losses.
- Differentiate between probable, reasonably possible, and remote litigation outcomes.
- Identify when to accrue a liability for litigation-related contingencies under ASC 450-20.
- Recognize the role of legal counsel in the litigation process.
- Identify the appropriate financial statement disclosures for litigation-related contingencies.
- Distinguish between software that is considered internal-use and not considered internal-use.
- Recognize how implementation costs are accounted for in various stages of software development.
- Identify when capitalization and amortization should commence.
- Recognize how implementation costs of hosting arrangements are accounted for differently.
- Recognize software that is within the scope of ASC Topic 985-20.
- Identify how software costs are recorded prior to and after establishing technological feasibility.
- Recognize how amortization is recorded for capitalized software costs.
- Identify general disclosure requirements related to software for resale.
- Differentiate between a GAAP financial measure and a non-GAAP financial measure.
- Recognize examples of different types of non-GAAP financial measures.
- Identify which SEC guidance is applicable to different types of non-GAAP financial measures.
- Recognize disclosures within the scope of Regulation G.
- Identify key requirements included within both Regulation G and Regulation S-K related to these measures.
- Differentiate between a GAAP financial measure and a non-GAAP financial measure.
- Recognize examples of different types of non-GAAP financial measures.
- Identify which SEC guidance is applicable to different types of non-GAAP financial measures.
- Recognize disclosures within the scope of Regulation G.
- Identify key requirements included within both Regulation G and Regulation S-K related to these measures.
|
|
|