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Worlds Liveliest Accounting Update with Ray Thompson FLEXCAST

Available Until

Your Desk

5.0 Credits

Member Price $245.00

Non-Member Price $282.00


Businesses have emerged from pandemic disruptions at different rates and face different reporting challenges. Many are also playing catch up to fully implement recent standards involving revenue recognition and leases. In this upbeat course, instructor Ray Thompson brings his unique presentation style to the classroom. Learn about the latest accounting pronouncements, future issues, and alternatives to GAAP, all presented in a clear and practical fashion. Course topics will be updated on an ongoing basis throughout the year. After attending this course, you will be informed of the latest trends, standards, and updates in accounting today.


Financial Reporting Overview. Financial Reporting Issues in the Great Recovery. Lease Accounting. Debt, Covenants, Loans and Forgiveness. Current & Recent FASB Activity. Revenue Recognition Retrospective. Not-for-Profit Update.



Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.


Identify the most significant challenges in financial reporting today. Implement reporting standards for impairment, restructuring and going concern. Understand the interaction of debt classification, loan modifications and forgiveness guidance. Evaluate the impact of the new lease standard and its implementation. Take a retrospective view of how well we have implemented revenue recognition standard and what remains to be done. Prepare for the credit losses (CECL) standard and understand the demands it will place on non-financial companies. Apply the reporting exceptions provided by the Private Company Council. Apply recent FASB standards under the simplification initiative. Identify other changes to the standards that are on FASB’s horizon. Apply the main provisions of the new standards for not-for-profit entities.




This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.


Leader Bios

Ray Thompson, Western CPE

Dr. Ray Thompson, CBA, CFM, CMA, is an emeritus associate professor of accounting and finance at the University of Pittsburgh. He served as department head at the University of Pittsburgh at Johnstown (UPJ) campus for over 25 years. He was the associate director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups. He has taught in graduate and undergraduate business programs in Europe, Africa, and the United States.

Ray received his BS and MS degrees in economics and systems dynamics from the University of Bradford in the United Kingdom, his MBA in accounting from Xavier University in Ohio, and his PhD in business administration from Nova University. Ray is also certified in financial management and is a certified management accountant (CMA), a certified business appraiser (CBA), and holds the accredited valuation analyst credential from the National Association of Certified Valuators and Analysts (NACVA). He recently became certified in IFRS though the Institute of Chartered Accountants in England and Wales.

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Non-Member Price $282.00

Member Price $245.00