Accounting and Reporting Long-Term Debt WEBCAST
Overview
Debt is typically a critical component of the financial statements, impacting the economic decisions of financial statement users. This course will address common issues that may impact the proper presentation and disclosure of debt, including debt covenant compliance and other issues that impact classification of the liability between current vs. noncurrent.
Highlights
Debt terms that impact classification of debt, such as due on demand and subjective acceleration clauses, and more. Proper treatment of short-term obligations that are expected to refinance within the next 12 months. “Revolving” credit agreements, where short-term debt is automatically replaced with other short-term debt for a specified period of time. Differentiating between debt modifications and troubled debt restructuring. Debt covenant compliance special considerations, including the proper form of waiver of rights to call the debt for violation.
Prerequisites
None.
Designed For
Anyone responsible for preparing or attesting upon financial statements.
Objectives
Describe the importance of proper debt classification and disclosure. Explain how various common debt terms impact the classification of debt. Apply illustrative examples to appropriate disclosure of debt terms and circumstances.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $109.00
Member Price $79.00