CPAR Accounting & Financial Reporting

CPAR - 2020/October, Seg.01 - COVID-19: Are Your Financial Statements Infected? - Part I

In the era of a global crisis due to COVID-19, many economists expect 2020 to be the year when we will experience the worst recession since the Great Depression. Many industries, such as oil and gas, retail and manufacturing, hospitality, portions of the transportation sector, tourism, manufacturing, aerospace and many others have reported goodwill impairment in the first two quarters of 2020 and more impairments are likely to spike before the end of the year. The negative economic impact of the virus is certainly considered a triggering event and justifies an impairment test on long-lived assets or asset groups for most industries. Todd Rahn, senior managing director and lead of accounting advisory practice on the west coast and Chris Brown, senior managing director, from FTI Consulting, discuss industries that are at the greatest risk for impairment.

Learning Objectives:

  • Identify the treatment of lease accounting under Topic 842,
  • Determine what companies should focus on to determine if impairment is needed,
  • Identify indicators that companies should be mindful of, and
  • Recognize reporting units during restructuring.


Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.


Speakers / Authors:

Todd Rahn, FTI Consulting

Chris Brown, FTI Consulting

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Price (USD)

Standard: $69.90

Details

Course Code : CPAR1479-FM

Release Date : 10/30/2020
Expire Date : 12/12/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting


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