Financial Statement Challenges in the Covid Environment

COVID-19 AFFECT ON FINANCIAL STATEMENTS

CREDITS: 4

CATEGORY: Accounting & Auditing

SPEAKER: Prof. Kenneth Heaslip, CPA

DATE: Oct. 28, Nov. 3, Dec. 16, Jan. 13

TIME: 12:00 - 3:40 P.M. Eastern

LOCATION: All New Pre-Recorded Webinar

Post-Covid financial statements have a different look. Entities will need to evaluate and disclose many items that have not been previously considered. This program will discuss FASB rules on fair value, impairments, debt restructuring and covenants, going concern, subsequent events, the CARES act, and accounting for PPP loans. In addition, a discussion on remote engagements will focus on audits, reviews, firm procedures, and technology. This timely topic is newly developed with focus on current business struggles.

Topics & Learning Objectives Include:

  • Fair Value and Impairments:
      • Fixed Assets
      • Leases
      • Financial Instruments
      • Inventory
      • Goodwill 
  • Going Concern
  • Loan Modifications and Covenants
  • Troubled Debt Restructuring
  • Subsequent Events
  • Risks and Uncertainties
  • Business Interruption
  • Insurance Recovery and Presentation
  • Cares Act and PPP Loans
  • Social Security Tax Moratorium
  • Remote Engagements

Kenneth Heaslip is one of the foremost lecturers in Accounting & Auditing. He has over 30 years of experience in lecturing on A&A topics and is currently a professor at Mercy College.

  • Program Level: Overview
  • Prerequisites: Basic Knowledge of U.S. GAAP, Compilation & Review, and Auditing Standards
  • Advance Preparation: None Required
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