This course covers the accounting and disclosure requirements for entities experiencing financial distress under U.S. GAAP. It begins with the going concern framework in ASC 205-40, which outlines how management should assess and disclose substantial doubt about an entity’s ability to continue operating. The course then moves into the specialized guidance in ASC 852 for entities that enter Chapter 11 bankruptcy and undergo formal reorganization. Throughout, you’ll gain insight into how financial reporting obligations evolve as a company moves from early signs of instability to court-supervised restructuring.

Learning Objectives
Upon completion of chapter 1, you will be able to:
•    Identify the conditions that require management to evaluate going concern uncertainty
•    Determine the appropriate one-year look-forward period for a going concern assessment
•    Recognize how management’s plans may alleviate substantial doubt
•    Differentiate between disclosures required when substantial doubt is alleviated and when it is not
Upon completion of chapter 2, you will be able to:
•    Identify when an entity is required to apply ASC 852 accounting guidance for reorganization
•    Recognize how to present liabilities subject to compromise and reorganization items
•    Differentiate between normal operating expenses and reorganization-related costs
•    Determine the appropriate financial statement presentation during and after Chapter 11 proceedings
•    Recognize required disclosures for entities undergoing reorganization under ASC 852

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. 

A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course 

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/