Accounting and Financial Reporting for COVID-19, CARES, and PPP  #313621

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Course Description

Course publication/revision date: This course was published on 2/2/2021.

The objective of this course is to review the accounting and financial reporting impacts of the economic crisis created by the coronavirus (COVID-19), and the changes made by the 2020 CARES Act including accounting for Paycheck Protection Program (PPP) loans and forgiveness. The course has been updated to reflect accounting and financial reporting issues related to the Consolidated Appropriations Act, 2021.

Topics include: Disclosures of risks and uncertainties; going-concern reporting and disclosure issues; impairment issues related to goodwill and other long-lived assets; accounting for variable consideration revenue and onerous contracts;  dealing with inventory costs and stock market investment losses; collectability of trade receivables; exit and termination benefit obligations; contingencies, and accounting and auditing engagement matters.  With respect to the CARES Act, the course discusses the accounting for PPP loans and forgiveness, accounting for tax changes made by the CARES Act, and more.

Course, Credit, Sponsor Information  
Open link (above): Course Details, Table of Contents, and Learning Objectives.
Subject Codes/Fields of Study: Accounting, Auditing

Course Format Options
If you purchase the "Online Book and Online Exam" option of a course, you get anytime access to the course (in PDF) and the online exam. Both can be printed.
If you purchase the "Hardcopy Book and Online Exam" option, you get online access to the course-PDF and exam, PLUS printed copies of both, sent via USPS or UPS.

Taking the Exam Online
Online exam is included in price and is accessed through your account.
The exam may be started, stopped, then resumed at a later date.
The exam is "open book," it is not timed, and it may be retaken if not passed (no charge).
Results (correct, incorrect answers), and certificate appear once you pass the exam.

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