Often considered relatively low-risk assets, accounting for long-term assets such as property, plant and equipment (PP&E), intangible assets and goodwill can pose significant accounting challenges in their initial measurement and subsequent valuation. Also, the new accounting guidance for revenue recognition and leases will create other classes of long-term assets which will result in additional accounting challenges. In this course, we’ll discuss the basic accounting model for various types of long-term assets, such as PP&E, intangibles and right of use assets. Next, we’ll discuss the complex accounting around asset impairment and other valuation issues and lastly discuss the impact of recent ASC Updates, such as ASU No. 2017-04 on goodwill impairment and ASU No. 2017-01 on business combinations. As there is often more than meets the eye when it comes to long-term assets, this course will refresh your knowledge on this surprisingly complex area of accounting.
Accounting for transactions involving long-term assets. Application of fair value techniques related to accounting for long-lived assets.
Recall the basic accounting models for PP&E, intangible assets and asset impairment. Recall the accounting guidance for complex transactions involving long-term assets. Explain recent changes to the ASC with regard to accounting for long-term assets.
Curtis is an individual practitioner and has spent several years in industry as a Corporate Controller. Most recently he served as Controller of the region’s largest electronics distributor, with offices located in twenty states. As a Lieutenant Colonel in the U.S. Army Reserve, he teaches classes at the U.S. Army’s Command and General Staff College in Fort Leavenworth. He recently served an eight month tour of duty with the US Army at the Combined Central Command Center in Kuwait, in support of Operation Iraqi Freedom. He is a Past President of the Central Chapter of the Arkansas Society of CPAs, and Past Chairman of the Industry and Commerce Committee.
Non-Member Price $205.00
Member Price $155.00