Accounting

Surgent’s Annual Accounting Update (ACU4) (SSAA45/19)

By |2018-08-30T11:41:26+00:00June 30th, 2019|

Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent accounting matters including: Private Company Standard Setting activities; recently issued Accounting Standards Updates (ASUs); the FASB's comprehensive new Revenue Recognition standard, Topic 606; a brief update of the FASB's new Lease Accounting standard -- ASU No. 2016-02; changes to the adoption dates for PCC alternatives and other important accounting matters.

Surgent’s Accounting for Financial Instruments: Making Sense of the FASB’S New Guidance on Impairment, Hedging, and Financial Assets and Liabi (SSAA47/19)

By |2018-08-30T11:41:26+00:00June 30th, 2019|

With the recent completion of its financial instruments project, the FASB has made some significant changes to how an entity accounts for many of its financial instruments. In ASUs dealing with the recognition and measurement of financial assets and liabilities (ASU No. 2016-01), impairment (ASU No. 2016-13), and hedging, this new guidance will challenge all entities, not just those in the financial services industry. This means you. In this course, we'll review the new guidance in each of these areas and how it varies from existing guidance on accounting for changes in the fair value of equity securities, timing and measurement of the impairment of financial instruments, and hedge accounting. Specifically, we'll review the details of the new Current Estimate of Credit Losses (CECL) model, which entities must follow when determining the credit losses on their financial instruments. Applying the CECL model will result in the earlier recognition of credit losses, as an entity will recognize such losses based on its current estimates, not its actual incurred losses. Next, we'll discuss what's changed in hedge accounting and how these changes may make hedging transactions more appealing to smaller entities. Lastly, we'll explore the changes in where entities record the changes in fair value for equity securities. As almost all entities will have some financial instruments that are within the scope of one or more of these new Updates, now is the time for you to get up to speed on this significant new guidance. With the implementation of this guidance right on the horizon, this is the course for you.

Surgent’s AICPA Update (AICU) (SSAA48/19)

By |2018-08-30T11:41:27+00:00June 30th, 2019|

Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides an overview of the AICPA's new special purpose framework, Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEsT); a Compilation and Review Update, including a discussion of the recently issued SSARS No. 22 and 23; as well as recent activities of the Auditing Standards Board (ASB) and other AICPA Boards and affiliated organizations. You will learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and auditors in public accounting and private industry.

Surgent’s Master Accounting for Income Taxes (AIT4) (SSAA49/19)

By |2018-08-30T11:41:27+00:00June 30th, 2019|

Since its inception nearly 25 years ago, many have continued to struggle with applying the current model for accounting for income taxes. But this doesn't have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions and other classification and disclosure requirements. We'll also explore the changes on the horizon to accounting for income taxes. Lastly, the course will cover the financial accounting implications of the Tax Cuts and Jobs Act (TCJA), which will continue to impact financial reporting throughout 2018. This will include a review on the general guidance in ASC Topic 740 for accounting for changes in tax laws and rates, as well as a deeper dive into the accounting implications of specific changes found in the TCJA and recently issued implementation guidance from both the FASB and SEC.

Surgent’s Master Accounting for Income Taxes (AIT4) (SSAA50/19)

By |2018-08-30T11:41:28+00:00June 30th, 2019|

Since its inception nearly 25 years ago, many have continued to struggle with applying the current model for accounting for income taxes. But this doesn't have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions and other classification and disclosure requirements. We'll also explore the changes on the horizon to accounting for income taxes. Lastly, the course will cover the financial accounting implications of the Tax Cuts and Jobs Act (TCJA), which will continue to impact financial reporting throughout 2018. This will include a review on the general guidance in ASC Topic 740 for accounting for changes in tax laws and rates, as well as a deeper dive into the accounting implications of specific changes found in the TCJA and recently issued implementation guidance from both the FASB and SEC.

Surgent’s Guide to the New Revenue Recognition Model for All CPAs (REV4) (SSAA104/19)

By |2018-08-30T11:39:35+00:00June 30th, 2019|

The effective date for Topic 606, Revenue from Contracts with Customers, is rapidly approaching. Are you ready? Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASB's comprehensive new revenue recognition guidance found in Topic 606. The course begins with a quick overview of the new guidance from 30,000 feet, before diving into the details of the FASB's new five-step revenue recognition model. Additional guidance, presentation, and disclosures are also presented in this course. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. Additionally, the course discusses the recent Accounting Standard Updates (ASUs) to Topic 606 that provide additional guidance on such issues as licenses, collectibility, and performance obligations. Revenue recognition changes could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing Topic 606 NOW.

Surgent’s Guide to the New Revenue Recognition Model for All CPAs (REV4) (SSAA105/19)

By |2018-08-30T11:39:35+00:00June 30th, 2019|

The effective date for Topic 606, Revenue from Contracts with Customers, is rapidly approaching. Are you ready? Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASB's comprehensive new revenue recognition guidance found in Topic 606. The course begins with a quick overview of the new guidance from 30,000 feet, before diving into the details of the FASB's new five-step revenue recognition model. Additional guidance, presentation, and disclosures are also presented in this course. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. Additionally, the course discusses the recent Accounting Standard Updates (ASUs) to Topic 606 that provide additional guidance on such issues as licenses, collectibility, and performance obligations. Revenue recognition changes could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing Topic 606 NOW.

Surgent’s Accounting, Audit, and Attest Update for Practitioners with Small-Business Clients (SMBP) (SSAA107/19)

By |2018-08-30T11:39:40+00:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Small-Business Accounting, Audit, and Attest Update (SMP4) (SSAA108/19)

By |2018-08-30T11:39:40+00:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Successfully Navigating the Impacts of SSARS No. 21-23 (SSAR) (SSAA111/19)

By |2018-08-30T11:39:42+00:00June 30th, 2019|

Statements of Standards for Accounting and Review Services (SSARS) recently underwent a complete revision through the issuance of SSARS No. 21, Statements of Standards for Accounting and Review Services: Clarification and Recodification. The most monumental change is the creation of a brand new non-attest service entitled "Preparation of Financial Statements." This course will focus on clear and practical guidelines for successfully navigating the changed professional requirements of SSARS No. 21, and subsequent SSARS No. 22 - 24, compared to current practice.

Surgent’s Challenges in Implementing Topic 606 for Entities in the Technology Sector (TEC4) (SSAA114/19)

By |2018-08-30T11:39:55+00:00June 30th, 2019|

Change is definitely coming. For those entities currently following industry-specific accounting guidance for revenue recognition, Topic 606 will be replacing this with a single model. For those in the technology sector that utilize Statement of Position 97-2, Software Revenue Recognition (SOP 97-2), adopting Topic 606 will most likely result in significant changes to when you recognize revenue, particularly with regard to contracts with multiple performance obligations. With the requirement to have vendor-specific objective evidence (VSOE) to support the allocation of transaction price going away under Topic 606, technology companies will also see major change in how they allocate transaction price, which will impact when they record revenue on these transactions. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 97-2. We'll highlight the changes that Topic 606 makes to the guidance found in the SOP and focus on the impact that software entities should expect when implementing this new guidance. Implementing Topic 606 will be a challenge for software entities, and this course will help you identity and resolve these issues so that you can complete your adoption strategy.

Surgent’s Challenges in Implementing Topic 606 for Entities in the Technology Sector (TEC4) (SSAA115/19)

By |2018-08-30T11:39:56+00:00June 30th, 2019|

Change is definitely coming. For those entities currently following industry-specific accounting guidance for revenue recognition, Topic 606 will be replacing this with a single model. For those in the technology sector that utilize Statement of Position 97-2, Software Revenue Recognition (SOP 97-2), adopting Topic 606 will most likely result in significant changes to when you recognize revenue, particularly with regard to contracts with multiple performance obligations. With the requirement to have vendor-specific objective evidence (VSOE) to support the allocation of transaction price going away under Topic 606, technology companies will also see major change in how they allocate transaction price, which will impact when they record revenue on these transactions. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 97-2. We'll highlight the changes that Topic 606 makes to the guidance found in the SOP and focus on the impact that software entities should expect when implementing this new guidance. Implementing Topic 606 will be a challenge for software entities, and this course will help you identity and resolve these issues so that you can complete your adoption strategy.

Surgent’s Understanding the High Stakes Mega Issues in A&A Today (IAA4) (SSAA93/19)

By |2018-08-30T11:40:08+00:00June 30th, 2019|

With the recent release of a series of high-impact new accounting standards, the impact of these pronouncements will take center stage over the next few years. In addition to new accounting guidance, these standards have the potential to change how companies do business. In this course, we will explore the accounting and operational impact of recent FASB activity, including standards on revenue, leases, financial instruments, consolidation and other hot topics, as well as consider the impact of emerging technology trends on the accounting function. One of the best ways to add value as an accountant is to be in front of the pack with the best knowledge and insights. This course is designed to give you the latest information on these mega issues in accounting so you can be a true business advisor.

Surgent’s Understanding the High Stakes Mega Issues in A&A Today (IAA4) (SSAA94/19)

By |2018-08-30T11:40:08+00:00June 30th, 2019|

With the recent release of a series of high-impact new accounting standards, the impact of these pronouncements will take center stage over the next few years. In addition to new accounting guidance, these standards have the potential to change how companies do business. In this course, we will explore the accounting and operational impact of recent FASB activity, including standards on revenue, leases, financial instruments, consolidation and other hot topics, as well as consider the impact of emerging technology trends on the accounting function. One of the best ways to add value as an accountant is to be in front of the pack with the best knowledge and insights. This course is designed to give you the latest information on these mega issues in accounting so you can be a true business advisor.

Surgent’s Lease Accounting: A Whole New Ballgame (LEAS) (SSAA96/19)

By |2018-08-30T11:40:15+00:00June 30th, 2019|

As the effective date of Topic 842 rapidly approaches, now is the time to get your hands around the details of the FASB's new leases standard. Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough overview of the FASB's new lease accounting standard (ASU No. 2016-02) that was released in February 2016. You will learn about the long awaited lease accounting standard for lessors and lessees, including sale and leaseback transactions, as well as recent updates to the new lease accounting guidance. Plenty of practical application illustrations are used, including journal entries, to help in understanding this complex area of accounting.

Surgent’s Challenges in Implementing Topic 606 for Entities with Long-Term Construction Projects (LTC4) (SSAA97/19)

By |2018-08-30T11:40:17+00:00June 30th, 2019|

Change is definitely coming. For those entities who currently recognize revenue under the guidance of Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts (SOP 81-1), understanding the basics of Topic 606 is not enough. In order to assess the impact of adopting Topic 606, you need a detailed understanding of whether you can recognize revenue over time under Topic 606 or not. Plus, applying the other steps of Topic 606's five-step revenue recognition model could also result in entities making changes to their current revenue recognition approaches. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 81-1, highlighting any areas of potential change in your current approach when you adopt Topic 606, such as identifying performance obligations and when and how you recognize revenue. Applying Topic 606 to your long-term contracts will definitely change your revenue recognition approach. This course will help you determine how big that change will be.

Surgent’s Challenges in Implementing Topic 606 for Entities with Long-Term Construction Projects (LTC4) (SSAA98/19)

By |2018-08-30T11:40:17+00:00June 30th, 2019|

Change is definitely coming. For those entities who currently recognize revenue under the guidance of Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts (SOP 81-1), understanding the basics of Topic 606 is not enough. In order to assess the impact of adopting Topic 606, you need a detailed understanding of whether you can recognize revenue over time under Topic 606 or not. Plus, applying the other steps of Topic 606's five-step revenue recognition model could also result in entities making changes to their current revenue recognition approaches. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 81-1, highlighting any areas of potential change in your current approach when you adopt Topic 606, such as identifying performance obligations and when and how you recognize revenue. Applying Topic 606 to your long-term contracts will definitely change your revenue recognition approach. This course will help you determine how big that change will be.

Surgent’s More Than Meets the Eye: Examining the New Lease Accounting Standard (NLS4) (SSAA99/19)

By |2018-08-30T11:40:20+00:00June 30th, 2019|

Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease re-measurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance.

Surgent’s More Than Meets the Eye: Examining the New Lease Accounting Standard (NLS4) (SSAA100/19)

By |2018-08-30T11:40:21+00:00June 30th, 2019|

Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease re-measurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance.

Surgent’s Race Toward Implementation: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard (NRRS) (SSAA102/19)

By |2018-08-30T11:40:22+00:00June 30th, 2019|

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other "material right" options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.