Liquidation Basis and Going Concern Assessment
Description
Master the intricacies of ASC 205 with this Liquidation Basis of Accounting CPE course (1.5 CPE). This course equips accountants and auditors with the knowledge to navigate the end-of-life reporting requirements for entities under U.S. GAAP. ASC 205 addresses two key areas: the liquidation basis of accounting and the assessment of an entity's ability to continue as a going concern. While both focus on the financial health and lifespan of an entity, they involve distinct and separate analyses.
This course provides a deep dive into the liquidation basis of accounting as outlined in ASC 205-30. Learn when this accounting method is applicable, how to apply it, and the financial statement presentation and disclosure requirements involved. The course places special emphasis on challenges faced by funds in the investment management industry, a sector often characterized by entities with a defined lifespan.
In addition, this course covers going concern assessments and related disclosure requirements under ASC 205-40 for situations where the liquidation basis of accounting is not applicable. Key considerations and areas of judgment are brought to life through practical examples.
Course Outline
This course includes the following topics:
1. Topic 1: Introduction
2. Topic 2: Liquidation basis of accounting (LBA)
3. Topic 3: Going concern
4. Topic 4: Wrap-up
Learning Objectives
By the end of this course, you should be able to:
1. Recall when the liquidation basis of accounting is applicable and when an entity may determine there is substantial doubt to continue as a going concern
2. Recall how the liquidation basis of accounting and assessment of going concern impacts the financial statements of a reporting entity
Additional Information
| Last Updated | 12/01/2024 |
|---|---|
| CPE Credit | 1.5 |
| Field of Study | Accounting |
| Industry | Investment Management |
| Instructional Delivery Method | QAS Self Study |
| Knowledge Level | Intermediate |
| Private | No |
| Prerequisites | General knowledge of and experience with U.S. GAAP accounting and presentation requirements |
| Advanced Preparation | None |
| Expiration | This course, collection, or subscription expires one year from the date of purchase. The post-course assessment for each course must be satisfactorily completed, as evidenced by a passing grade of at least 70%, by the expiration date to be awarded any qualifying continuing professional education (CPE) credit. |
| Refund or Cancellation Policy | For more information regarding refunds, concerns, and program cancellation policies, please contact the GAAP Dynamics Support Team via email at support@gaapdynamics.com or call (804) 897-0608. |
$180
1h 30m
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