Here in Virginia the birds are chirping, the sunshine feels warmer, and the tulips are sprouting. Signs of springtime are everywhere I look and I love it! But today I’m shouting hip hip hooray for another reason – starting today you can sign up for three NEW webinars throughout the month of May! These new webinars are full of hot topics: Accounting Standards Updates (ASUs) effective in 2022, SPACs and the related financial reporting and audit considerations, and requirements and implementation issues for lessees under ASC 842. These aren’t your garden variety webinars! They are chock-full of useful insights and if you’ve attended one of our webinars in the past, you know our energetic instructors will help put a spring in your accounting step! In today’s post I will highlight what we’ll cover in each webinar and include links for you to register for each.

U.S. GAAP Update: Highlights of ASUs Effective in 2022 – May 5, 2022

Now is the time to spring into action to implement the ASUs that are effective in 2022! In this 1.0 CPE-eligible webinar, we will discuss the more significant ASUs applicable to both public companies and private entities effective this year. Specifically, we will walk through the highlights of the following:

• ASC 832 Government Assistance (ASU 2021-10)
• Accounting for convertible instruments (ASU 2020-06)
• ASC 842 Leases
• Simplifying the accounting for income taxes (ASU 2019-12)

Ready to spring forward your implementation of these new ASUs? 

Overview of SPACs and Related Financial Reporting and Audit Considerations – May 12, 2022

The SPAC market is still blooming! Special purpose acquisitions companies (SPACs), also known as “blank check companies” or “public shells” have been around for decades, however, in recent years there’s been no shortage of SPAC “spring fever”! The number of SPAC deals has exploded with over 600 deals raising over $160 billion in 2021 alone. But the regulators are watching, and they’ve found plenty of issues causing a significant number of SPACs to have to restate their financial statements.

What are these entities and why are they all the rage? What are the financial reporting issues associated with SPAC transactions? How should financial instruments issued by SPACs like redeemable shares and warrants be accounted for under U.S. GAAP? What are the financial statement and SEC reporting requirements for these entities? And what the heck is a Super 8-K? We answer these questions and more in this CPE-eligible webinar (2.0 CPE)! If you deal with SPACs or just want to know what all the fuss is about, then this webinar is for you!

Click HERE to register for this webinar and grow your knowledge of SPACs!

ASC 842 Leases: Requirements and Implementation Issues for Lessees – May 19, 2022

We’re no spring chickens when it comes to ASC 842! Public companies have already implemented ASC 842 Leases and now it’s time for private companies to get their hands dirty in the garden of leases (if you haven’t already!). Whether you’re responsible for financial reporting or auditing financial statements prepared in accordance with U.S. GAAP, you need to make sure you understand the requirements of ASC 842.

In this CPE-eligible webinar (2.0 CPE) you learn about the requirements of ASC 842 including: defining leases; identifying “embedded leases” within contracts; determining the lease term, lease payments, and discount rate; classifying leases held by lessees as either operating or financing; and accounting for leases based on the classification. This webinar also covers the presentation and disclosure requirements for leases, as well as the transition requirements within ASC 842.

We also discuss the practical expedients within the standard and implementation issues noted by public companies to make your transition to ASC 842 as smooth as possible. If you need a crash course in the accounting for leases under U.S. GAAP, this webinar is a great place to start!

Cultivate your knowledge of ASC 842 Leases with this webinar – click HERE to register! If you are ready to grow you knowledge of leases immediately, check out our collection of four online, eLearning courses all about ASC 842.

We get it, accounting training can sometimes feel like you’re watching grass grow, but that’s not the case with a GAAP Dynamics webinar! All three of these webinars feature not one, but two instructors to keep you engaged and lead you down the right path. Need a tailored webinar for your organization? We can do that! Let's talk about your training needs and how we can help!

About GAAP Dynamics  

We’re a DIFFERENT type of accounting training firm. We don’t think of training as a “tick the box” exercise, but rather an opportunity to empower your people to help them make the right decisions at the right time. Whether it’s U.S. GAAP training, IFRS training, or audit training, we’ve helped thousands of professionals since 2001. Our clients include some of the largest accounting firms and companies in the world. As lifelong learners, we believe training is important. As CPAs, we believe great training is vital to doing your job well and maintaining the public trust. We want to help you understand complex accounting matters and we believe you deserve the best training in the world, regardless of whether you work for a large, multinational company or a small, regional accounting firm. We passionately create high-quality training that we would want to take. This means it is accurate, relevant, engaging, visually appealing, and fun. That’s our brand promise. Want to learn more about how GAAP Dynamics can help you? Let’s talk!

Disclaimer  

This post is published to spread the love of GAAP and provided for informational purposes only. Although we are CPAs and have made every effort to ensure the factual accuracy of the post as of the date it was published, we are not responsible for your ultimate compliance with accounting or auditing standards and you agree not to hold us responsible for such. In addition, we take no responsibility for updating old posts, but may do so from time to time.