Self-Study

**CANCELLED** Surgent's Accounting for Investments Under Evolving U.S. GAAP (AIUE)

  • Wednesday, January 29, 2020 – Friday, April 30, 2021

  • 2
    CREDITS
    Accounting, Auditing

Understanding the proper accounting for and reporting of investments can be challenging, especially given recent changes to U.S. GAAP related to financial instruments and fair value measurement disclosures. This course will provide critical considerations when evaluating the proper treatment of basic investments in other entities and other common investments for nonpublic entities in U.S. GAAP-basis financial statements, including consideration of recent changes in financial instrument accounting, reporting, and disclosure.

Objectives

  • Discuss the proper accounting for investments, including impact of recent Accounting Standard Updates (ASUs)
  • Describe special accounting considerations, such as equity method investments, alternative investments with net asset value, cash value of life insurance, and more
  • Explain fair value presentation and disclosure requirements, including simplifications in recent ASUs

Highlights

  • Identifying the three primary factors in determining proper accounting for investments in other entities
  • Exploring the principles of equity method investment accounting
  • Explaining the practical expedient to account for qualifying alternative investments using net asset value
  • Describing the categorizations for initial recognition and subsequent measurement of debt and equity investments under FASB ASC 320 and 321
  • Discussing the key characteristics of a variable interest entity requiring consolidation
  • Explaining how to account for the cash value of permanent life insurance arrangements
  • Identifying when long-lived assets may be classified as property held for investment purposes
  • Discussing the foundational principles of fair value measurement and disclosure

Additional Information

Designed For

CPAs in either public or private practice with accounting, financial reporting, or attest responsibilities

Vendor

Surgent

Advanced Preparation

None

Credits

1.00 Accounting

1.00 Auditing

Prerequisite

None

Course Number

2024076

Level of Knowledge

Basic

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