This course provides an overview of key U.S. GAAP accounting principles and SEC reporting requirements, focusing on topics that are important for financial reporting professionals. Participants will explore the presentation of financial statements, including the balance sheet, income statement, cash flow, discontinued operations, segment reporting, as well as Accounting Standards Updates (ASUs), accounting estimates, accounting principle changes, and error corrections. Key U.S. GAAP areas such as revenue recognition, leasing, business combinations, goodwill, software (both internal use and resale), held-for-sale assets, loss contingencies, guarantees, derivatives, hedge accounting, blockchain, and crypto assets will be covered. This course also addresses important SEC Regulations, Form 8-K & Form 10-K requirements, as well as best practices related to MD&A and non-GAAP financial measures.

Chapter 17 – Blockchain - Overview

This chapter introduces blockchain technology and its relevance to the accounting profession. It covers the basics of blockchain, its potential applications in accounting, and the benefits and challenges it presents. Aimed at CPAs and accounting professionals, this chapter offers insights into how blockchain can be leveraged to improve accounting practices.

Chapter 18 – Crypto Assets - Overview

This chapter outlines the accounting and financial reporting requirements for crypto assets. It covers the types of assets included under the crypto asset guidance, as well as the recognition, presentation, and disclosure requirements.

Chapter 19 – Important SEC Regulations Accountants Should Know - Overview

This chapter provides an overview of key SEC regulations that accountants should be familiar with. This includes a discussion of the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as specific Regulations including Regulation S-X, Regulation S-K, and Regulation FD.

Chapter 20 – Segment Reporting - Overview

This chapter provides a general overview of the accounting and reporting requirements with respect to segment reporting. The accounting and reporting guidance related to segment reporting is prescribed by in ASC Topic 280. This chapter focuses on topics such as the identification of the chief operating decision maker (CODM), the determination of operating segments, the determination of reportable segments, as well as the respective disclosure requirements.

Chapter 21 – Form 8-K - Overview

This chapter provides an overview of the disclosure requirements for SEC Form 8-K – the broad form used to notify investors in U.S. publicly traded companies of certain events that may be important. This chapter provides an overview of the key disclosure requirements for several of the triggering events requiring the filing of a Form 8-K with the SEC.

Chapter 22 – Form 10-K - Overview

This chapter provides a comprehensive introduction to SEC Form 10-K, highlighting its critical role in financial reporting for public companies. We’ll address the purpose of the form as well as the key regulatory requirements and compliance aspects, including specific filing deadlines and the potential consequences of non-compliance. This chapter emphasizes the significance of Form 10-K for investors and stakeholders, showcasing how it serves as a vital tool for informed decision-making.

Chapter 23 – Management’s Discussion & Analysis (MD&A) - Overview

This chapter provides an in-depth look at Management’s Discussion and Analysis (MD&A), highlighting its critical role as a narrative supplement to financial statements that offers essential context for understanding a company's financial performance and position. It covers key elements of MD&A, such as liquidity, capital resources, and results of operations. The chapter also presents best practices for drafting effective MD&A as well as common challenges, including managing forward-looking statements, estimating critical accounting estimates, and navigating legal considerations.

Chapter 24 – Non-GAAP Financial Measures - Overview

This final chapter provides an overview of non-GAAP financial. Non-GAAP financial measures continue to rank at the top of the most frequent comment letters issued by the SEC. As a result, it’s important to understand the guidance with respect to these measures to ensure that an entity’s financial statements remain GAAP compliant and are not misleading.