Evaluating Going Concern – What Accountants Need to Know ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course covers the accounting and disclosure requirements related to going concern under ASC 205-40. You’ll learn how management evaluates whether substantial doubt exists, how to apply the required one-year look-forward period, and what role mitigation plans play in that analysis. The course also explains when disclosures are required and how they differ depending on whether substantial doubt is alleviated.
Highlights
U.S. GAAP guidance. Time period under review. Conditions and events that may raise substantial doubt. Management evaluation requirements. Substantial doubt exists, now what? Management plans. Disclosure requirements.
Prerequisites
None.
Designed For
CPAs, CEOs, CFOs, controllers, and other financial managers
Objectives
Identify the conditions that require management to evaluate going concern uncertainty. Determine the appropriate one-year look-forward period for a going concern assessment. Recognize how management’s plans may alleviate substantial doubt. Differentiate between disclosures required when substantial doubt is alleviated and when it is not.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00