The Basics of Accounting for Financial Instruments: The Good, The Bad, and The Ugly ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $49.00
Non-Member Price $56.00
Overview
Navigating the intricate world of financial instruments accounting under GAAP can be as challenging as traversing a rugged Western landscape. With a multitude of classifications, valuation methods, and disclosure requirements, professionals can easily find themselves lost in the complexity. This CPE webinar course, themed around the adventurous spirit of 1960s spaghetti westerns, is your guide through this challenging terrain. The course starts by identifying the problem: the complexity and diversity of financial instruments under GAAP. It agitates this issue by delving into the difficulties of finding authoritative guidance and applying the general requirements for these instruments, especially the more complex ones. But fear not, the solution is here. The CPE course simplifies these challenges by categorizing financial instruments into three groups: good, bad, and ugly, based on their complexity. Instructor Jeff brings his unique sense of humor to make this journey engaging and memorable. By the end of this CPE webinar course, you’ll be equipped not just with theoretical knowledge, but with practical skills to confidently classify, value, and disclose various financial instruments in your financial reports, turning a daunting task into an achievable feat.
Highlights
Financial instrument terminology and definitions. Fair value, orderly transactions, and market participants. Debt, equity, and security. Cash and cash equivalents. Receivables and loans. Life insurance contracts. Credit losses.
Prerequisites
None.
Designed For
CPAs and other accounting professionals.
Objectives
Identify various types of financial instruments under GAAP. Locate authoritative guidance related to financial instruments. Apply the general requirements for the most common financial instruments. Explain the requirements for more complex financial instruments.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jeff Sailor, Western CPE
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He’s also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He’s also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
Non-Member Price $56.00
Member Price $49.00