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Financial Reporting Implications of the COVID-19 Pandemic Webinar

CPE

When
July 13
1:00 - 5:00 p.m.

CPE Credits
4-A&A

Details

 Pricing

PICPA Member: $139 | Nonmember: $189


 More Information

Course No.
FRC4-2022-01-WEBNR-194-01
Level
Intermediate
Prerequisites
Experience in accounting and auditing
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

In addition to being a significant business interrupter for many entities, the financial impact of the COVID-19 pandemic is still creating a significant financial reporting impact for virtually all entities. Many formerly profitable entities will be looking at charges for once unthought-of circumstances, from fixed asset impairment to inventory and receivables write-downs. Further, many entities will need to account for debt and other contractual modifications, including restructuring, forgiveness, and debt covenant modifications, as well as the receipt and forgiveness of Paycheck Protection Program loans. Applying this often-complex accounting guidance in these areas may be challenging. In this course, we will review in detail the accounting guidance that many entities will need to apply when preparing their next set of financial statements. We will also review disclosure guidance for such topics as going concern considerations and subsequent events as well as other relevant financial statement recognition and presentation issues.

Highlights

  • Impairment accounting model for long-lived assets, including PP&E and goodwill
  • Accounting for inventory and accounts receivable reserves
  • Accounting for debt restructurings, including troubled debt restructurings, rent holidays, and other revisions to debt agreements
  • Going concern evaluation and required disclosures
  • Other financial statement presentation and disclosure issues


Speaker(s)

Richard Daisley, CPA

 

Rich is a CPA and has over 25 years of experience in the accounting and auditing field. He has worked in both the client service setting as well as in internal capacities as a facilitator of accounting and auditing courses.  He was an assurance manager with PwC, spending time in both the assurance practice as well as with PwC’s Capital Markets and Accounting Advisory Services group, where he advised clients on the implementation of new accounting pronouncements as well as on issues related to public offerings. Rich also worked in PECO Energy’s Merger and Acquisition group, where he performed financial due diligence that supported PECO’s acquisition activity in the energy sector. He has experience in the manufacturing, health care, energy, and pharmaceutical industries.

 

Prior to joining Surgent, Rich also has more than 10 years of experience as a course developer and facilitator, creating and leading training courses on such topics as revenue recognition, stock based compensation, equity instruments and performing integrated audits under the Sarbanes-Oxley legislation. He also designed and delivered courses on instructor development and facilitation skills to senior PwC internal course instructors. 

 

In 2015 he joined Surgent as Director, Accounting & Financial Reporting Content. In this role, he researches and develops the technical content for Surgent’s Accounting and Financial Reporting curriculum.

 


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