Earn Accounting CPE Credit With the Financial Management Network (FMN)

Financial Management Network
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Stay informed with monthly, up-to-date news on important industry topics, trends, and issues. These engaging news segments keep you abreast of current accounting and finance news, important changes, and the latest updates. We deliver four programs each month (eight CPE credits) to ensure you never fall behind on industry hot topics, while also giving you instant access to the previous 18 months of programming.

Financial Management Network Library includes the following: 

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CPAR- 2022 February, Seg. 1-Current FATCA & CRS Updates

Corporate Tax Series

Third-party information reporting has been shown to increase voluntary tax compliance, improve collections and assessments within the IRS, and thereby reduce the tax gap. Kelli Wooten, tax director at KPMG LLP, joins us this month and discusses the general reporting requirements under IRC section 6050W and Form 1099-K reporting, and Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons.

Learning Objectives:

  • Describe the general reporting requirements under IRC section 6050W,
  • Recognize the new Form 1099-K reporting requirements,
  • Identify the key issues that are typically mentioned in IRS soft notices, and
  • Recognize how to prepare for an IRS audit.
  • Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Author/Speaker: Kelli Wooten
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2021/August, Seg. 1 - Accounting & Valuation of SPACs

    Data Integrity and Security

    Organizations typically focus on external cyber threats, but statistics show that insider attacks occur more than 50 percent of the time and can be a lot more dangerous. Lyle Lieberman, Chief Operating Officer with JANUS Associates, explains the different types of insider cyber threats and describes what you can do to protect against them.

    Learning Objectives:

    • Recognize the different types of insider cyber threats;
    • Describe what the next generation of firewalls do;
    • List the things to do to protect against insider cyber threats; and
    • Describe what an incident response plan is and what it does.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Zac McGinnis Josh Schaeffer
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN - 2021/August, Seg. 2 - Related Party Transactions - A Recurring Issue

    Accounting Processing Best Practice

    Shortly after the shutdown last year, the federal government offered various types of assistance programs for both individuals and businesses. Loans, debt relief and grants were available in an effort to stabilize the financial markets and sustain some companies, though others were unable to withstand the blow of the pandemic and filed for bankruptcy or restructuring. Asset-based lenders, commercial banks, and non-bank financial institutions were faced with unforeseen situations, one of which was supply chain disruptions. Paul Schuldiner, EVP & division manager for Rosenthal Trade Capital, and Vincent Iacopella, EVP of growth and strategy for Alba Wheels Up, discuss in detail the impact of supply chain disruption on businesses, lending and the underwriting process.

    Learning Objectives:

    • Understand the changes in the marketplace during COVID;
    • Identify the ramifications of supply chain disruptions;
    • Understand the future of cross-border financing; and
    • Determine the impact of supply chain disruptions on lending
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: John Fleming
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2021/August, Seg. 3 - ESGT Megatrends: A Blueprint for Navigating Risk & Opportunity - Part 1

    Risk Management

    There has been a lot of discussion about Schedules K-2 and K-3 for a while now, with some confusion related to the preparation of the schedules and the filing options. In February 2022, the AICPA and state societies of CPAs sent a letter to the Secretary (Tax Policy) Department of Treasury and IRS Commissioner asking for a delay in the requirement for partnerships and S corporations to complete and file Schedules K-2 and K-3 reporting items relevant to international tax reporting. Barbara Weltman, president of Big Ideas for Small Business, gives us an overview of the schedules. She also addresses other areas of interest to CPAs and tax professionals, such as RMDs, subsequent beneficiaries, virtual currency and more.

    Learning Objectives:

    • Understand the requirements in order to complete Schedules K-2 and K-3, as well as the filing options available;
    • Recognize the new RMD tables issues and the proposed regs made by the SECURE Act in 2019;
    • Identify the proper treatment when a beneficiary is a minor, disabled or a subsequent beneficiary; and
    • Understand how taxpayers can petition the tax court for review with respect to employment tax determination.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Andrea Bonime-Blanc
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN - 2021/August, Seg. 4 - ESGT Megatrends: A Blueprint for Navigating Risk & Opportunity - Part 2

    Risk Management

    Auditors are constantly dealing with updates from the Office of Management and Budget (OMB) and the AICPA's Auditing Standards Board. The pandemic has made their job even more challenging. Allen Fetterman, a national instructor on accounting and auditing issues, reviews revisions made by the OMB to the Uniform Guidance, changes made to the 2021 Compliance Supplement, and new guidelines included in SAS No. 140 issued by the Auditing Standards Board.

    Learning Objectives:

    • Identify the revisions made to the Uniform Guidance;
    • Recognize the changes made in the 2021 Compliance Supplement;
    • Describe the guidance for auditors contained in SAS No. 140; and
    • Recognize the challenges that auditors are facing doing single audits.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Andrea Bonime-Blanc
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN - 2021/December, Seg. 1 - Understanding, Identifying and Mitigating Internal Cyber Threat Risks

    Data Integrity and Security

    Organizations typically focus on external cyber threats, but statistics show that insider attacks occur more than 50 percent of the time and can be a lot more dangerous. Lyle Lieberman, Chief Operating Officer with JANUS Associates, explains the different types of insider cyber threats and describes what you can do to protect against them.

    Learning Objectives:

    • Recognize the different types of insider cyber threats;
    • Describe what the next generation of firewalls do;
    • List the things to do to protect against insider cyber threats; and
    • Describe what an incident response plan is and what it does.
    Prerequisites/Advanced Preparation: Work experience as corporate staff in accounting and finance, or an introductory course in information technology or finance.
    Author/Speaker: Lyle Lieberman
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN - 2021/December, Seg. 2 - Understanding, Identifying and Mitigating External Cyber Threat Risks

    Data Integrity and Security

    Ransomware is a type of malicious software that is used by cybercriminals to lock data files and block access until a ransom is paid. The average cost of experiencing a ransomware attack is estimated to be about $761,106 globally. Lyle Lieberman, Chief Operating Officer with JANUS Associates, discusses the latest ransomware trends and provides a list of steps an organization can take to minimize the risk of an attack.

    Learning Objectives:

    • Recognize why ransomware is such a concern;
    • Describe the role of cyber insurance;
    • List the steps an organization can take to protect against ransomware; and
    • Describe what web application testing is.
    Prerequisites/Advanced Preparation: Work experience as corporate staff in accounting and finance, or an introductory course in information technology or finance.
    Author/Speaker: Lyle Lieberman
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN - 2021/December, Seg. 3 - IFRS vs. U.S. GAAP - Major Differences

    IFRS

    International Financial Reporting Standards (IFRS) are followed in the European Union as well as many countries in Asia and South America but not in the United States. Understanding similarities and differences between IFRS and U.S. GAAP is highly relevant to financialnreporting and disclosures for stakeholders. John Fleming, a Kaplan Financial Educationndiscussion leader, covers those standards that most people talk about when they refer to the differences between IFRS and U.S. GAAP.

    Learning Objectives:

    • Identify the current IFRS standards most relevant to financial reporting and disclosure;
    • Identify major accounting differences between IFRS 15 and U.S. GAAP Topic 606;
    • Understand the fair value definition and the differences between IFRS 13 and U.S. GAAP Topic 820; and
    • Understand the objective of IAS 19 on employee benefits and identify the available areas under FASB relevant to employee and retirement benefits.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: John Fleming
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2021/December, Seg. 4 - CVO - The CFO’s Migration

    Miscellaneous

    More and more companies are developing finance teams dedicated to sustainability and innovation. Finance professionals have skills and competencies to handle sustainability accounting matters and help organizations to maximize their value. Therefore, the role of a CFO, chief finance officer is migrating to one of a CVO, chief value officer. Richard Kravitz, managing director of content and publishing for the New York State Society of CPAs, editor-in-chief of The CPA Journal, and professor of law at Texas A&M Law School in the graduate division, gives us his views on such migration and how it maximizes the value of an organization.

    Learning Objectives:

    • Identify the five consequential changes CFOs faced in the last 50 years;
    • Understand Milton Friedman's convictions in comparison to the current environment;
    • Recognize the dominant creators of long-term sustainable values; and
    • Understand the myths of shareholder ownership and the reasons directors and corporate managers need to adapt to the new era.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Richard Kravitz
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2021/July, Seg. 1 - Employee Stock Purchase Plans - Why Offer One?

    Interpersonal Relationship at Work

    Employee stock purchase plans, often known as ESPPs, are programs that enable employees to purchase company stock via elective payroll deductions. Typically, those deductions will accrue over a set period of time, often six months. At the end of that period, the accumulated money is then used to buy stock and a new six-month period starts. ESPPs are a great incentive for employees, but how are they different from any other kind of equity compensation like options or restricted stock? David Outlaw, director of Valuation and HR Advisory Services at Equity Methods, provides us with details on the different types of ESPPs, reasons companies offer them, common structures and tax qualifications.

    Learning Objectives:

    • Understand the distinct differences of ESPPs vs. other stock compensation plans and restricted stock;
    • Identify the different design levers of ESPPs and the ways they differ;
    • Recognize the accounting treatment of ESPPs based on their features; and
    • Understand the remeasurement triggers and common modification drivers.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: David Outlaw
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Personal Development
    2

    FMN - 2021/July, Seg. 2 - Will the PCAOB Tighten the Leash?

    Accounting Processing Best Practice

    In July 2002, Congress established the Public Company Accounting Oversight Board, known as PCAOB, to oversee audits of public companies and SEC-registered brokers and dealers, in an effort to protect investors and the public interest. Over the years, there have been several cases of significant financial reporting fraud, significant internal control deficiencies, and other audit failures, resulting in the loss of investor confidence, yet the number of defective audits that resulted in enforcement actions by the PCAOB has been very small. Is the profession failing? Is accountability lost? Dan Goelzer, one of the founding members of the PCAOB, gives some insights on these questions.

    Learning Objectives:

    • Understand the purpose of the PCAOB's inspection reports;
    • Determine some of the potential drawbacks if audit workpapers inspected by the PCAOB are publicly disclosed;
    • Recognize the correlation between audits of financial statements and uncovering fraud; and
    • Identify the areas the PCAOB should consider to ensure greater public trust.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Dan Goelzer
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2021/July, Seg. 3 - The SEC Is Watching and the New E on EESG - Part I

    SEC Reporting

    In April 2018, the board of directors of Andeavor LLC and Marathon Petroleum Corporation approved the merger between the two companies according to what was thought to be in the best interest of their respective equity holders. Andeavor was acquired by Marathon in October 2018 for over $23 billion, making it the largest acquisition in San Antonio's history. The acquisition was completed in July 2019; however, Andeavor was on the Securities and Exchange Commission's radar. Charles Hecht, from Charles Hecht, P.C., discusses the case in further detail. Was this a case about weak internal accounting controls or insider trading? And what is the new "E" on EESG and the related required disclosures from the SEC?

    Learning Objectives:

    • Understand the requirements to prove insider trading and why the Andeavor case was about internal control weaknesses;
    • Recognize the ramifications and implications to financial professionals as a result of the Andeavor case;
    • Identify the benefits of EESG and ways companies can integrate EESG; and
    • Identify steps companies can take to be more involved in their community and their state and local governments.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in business law.
    Author/Speaker: Charles Hecht
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Law
    2

    FMN - 2021/July, Seg. 4 - The SEC Is Watching and the New E on EESG - Part II

    SEC Reporting

    Charles Hecht, from Charles Hecht P.C., continues our segment. He gives his insights as to how the SEC reacts to misleading disclosures caused by the pandemic and discusses the case brought by the SEC against The Cheesecake Factory. Companies can get very creative when the SEC is on their tail and it seems they often blame it on internal controls. But the true causes of misinformation always come out, one way or another. And if the SEC sees that the public is misinformed on what the true impact of COVID-19 was on a business, it is not afraid to act on that. Good or bad, the public will know. Charlie also discusses what COVID-19 taught businesses. Are you going to be ready if another pandemic hits?

    Learning Objectives:

    • Recognize ways the SEC responds to misleading disclosures from the impact of the pandemic;
    • Identify lessons learned from the pandemic and ways to prepare for a future one;
    • Determine the potential implications of a Wells submission notice; and
    • Understand the SEC's 2021 examination priorities.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in business law.
    Author/Speaker: Charles Hecht
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Law
    2

    FMN - 2021/November, Seg. 1 - Qualified Small Business Stock Gain Exclusion

    Miscellaneous

    The Section 1202, qualified small business stock (QSBS) gain exclusion has gone unnoticed for years since its enactment in 1993 but has gained popularity recently as a go-to tax planning strategy with significant benefits to shareholders who are selling. It is a tax incentive for sellers of qualifying C corporations and encourages investment opportunities in small businesses. Dan Mayo, principal at WithumSmith+Brown, discusses Section 1202 in further detail and explains what makes it a hot topic today.

    Learning Objectives:

    • Understand the meaning of qualified small business stock (QSBS) and how the QSBS gain exclusion applies;
    • Identify the requirements for issuers and shareholders to qualify for the gain exclusion;
    • Determine what the asset use test entails and the requirements of company subsidiaries; and
    • Understand the consequences when forced to sell before the 5-year holding period requirement.
    • Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
      Author/Speaker: Dan Mayo
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2021/November, Seg. 2 - The Role of Artificial Intelligence in Finance

    Big Data

    Artificial intelligence (AI) is no longer science fiction. It is all around us, and it is even being used in accounting and finance. Dave Sackett, chief solutions architect with Visibility Corporation, provides an update on the uses of AI in business today as well as what is likely to come in the future. He also describes the pros and cons of AI use and the associated privacy and governance issues involved.

    Learning Objectives:

    • Describe the different uses of artificial intelligence (AI) in finance;
    • Recognize the pros and cons of AI use;
    • Describe what is meant by the term "responsible AI"; and
    • Recognize what the future of AI in finance will look like.
    Prerequisites/Advanced Preparation: Work experience as corporate staff in accounting and finance, or an introductory course in information technology or finance.
    Author/Speaker: Dave Sackett
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN - 2021/November, Seg. 3 - The Future of Work: A Psychological Contract in the Making

    Miscellaneous

    The pandemic surely led to what we often refer to as "The Great Resignation," a massive exodus of talent, the likes of which has never been seen before. Harry Osle, chief human resources officer at The Hackett Group, talks about questions raised by company leaders about the future of work. It is a "let's make a deal" game between employers and employees, establishing a psychological contract between the two parties and leaving only one question on the table: "What are you willing to offer, in exchange for the expertise and time I will put into my work?" And the answer is? Brace for impact!

    Learning Objectives:

    • Understand the key reasons for the massive exodus from organizations;
    • Identify the impact of The Great Resignation from both the employee and employer perspective;
    • Determine ways companies can measure productivity in a remote working environment; and
    • Understand the future of work and its challenges and opportunities.
    Prerequisites/Advanced Preparation: Work experience as corporate staff in accounting, finance and/or human resources, or an introductory course in management.
    Author/Speaker: Harry Osle
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Personnel Human Resources
    2

    FMN - 2021/November, Seg. 4 - Mergers and Acquisitions in a Pandemic World

    Strategic Planning Process

    During the pandemic there has been a flurry of merger and acquisition activity. Brian Sarkis, founder and executive director at the Franklin Nova Group, explains how the pandemic has forced companies to think differently and reviews the key factors that are driving M&A deals. Other topics include how impairment issues are affecting M&A transactions and the lasting impact of the pandemic on mergers and acquisitions activity.

    Learning Objectives:

    • Recognize what the M&A market has been like during the pandemic;
    • Describe how the pandemic has forced companies to think differently;
    • Identify M&A deal structure issues; and
    • Recognize the lasting impact of the pandemic on M&A.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Brian Sarkis
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2021/October, Seg. 1 - What Makes Convertible Bonds Popular?

    Miscellaneous

    Convertible bonds are always a discussion item as companies are often concerned with proper classification. FASB simplified issuer's accounting for convertible instruments and contracts on an entity's own equity with issuance of ASU 2020-06, in an effort to reduce unnecessary complexity currently in U.S GAAP. Josh Schaeffer, director at Equity Methods, discusses the sexy side of debt and why convertible bonds are gaining more and more popularity, especially in times of financial crisis.

    Learning Objectives:

    • Describe the main changes under ASU 2020-06 on the treatment of convertible bonds;
    • Identify some of the key features of convertible debt and the main reasons to issue convertible bonds;
    • Recognize the accounting considerations of convertible bonds; and
    • Understand the complexities of embedded derivatives.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Josh Schaeffer
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2021/October, Seg. 2 - SEEing Through a Holistic Lens

    Miscellaneous

    Recently, there have been a number of developments that have continued the trend to greater reporting on sustainability. This has resulted in sustainability becoming more and more important to accountants both in public practice and in corporations. Manjula Lee, founder and CEO of World Wide Generation, discusses the importance of having trusted data, and how to look at your company's sustainability efforts through a SEE (Social, Economic and Environmental) lens.

    Learning Objectives:

    • Describe how to look at your company's operations through a SEE lens;
    • Recognize why the UN Sustainable Development Goals are important;
    • Describe the financial manager's role in sustainability; and
    • Recognize what pitfalls to avoid in order to make your sustainability efforts more successful.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Manjula Lee
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2021/October, Seg. 3 - Critical Audit Matters: Implementation and Implications

    Auditing Standards

    The PCAOB and the Center for Audit Quality recently released reports on the implementation of Critical Audit Matters (CAMs) reporting. Dan Goelzer, one of the founding members of the PCAOB, provides an update on the findings in those reports and their implications for accountants and auditors. He also reviews the three principal causes of fraud as outlined in a report published by the Anti-Fraud Collaboration group

    Learning Objectives:

    • Recognize what a Critical Audit Matter (CAM) is;
    • Describe the results from recent studies on CAMs;
    • Recognize the accounting problems that could result from the global pandemic; and
    • Identify the three principal causes of fraud according to a study by the Anti-Fraud Collaboration group.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or auditing, or an introductory course in auditing.
    Author/Speaker: Dan Goelzer
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Auditing
    2

    FMN - 2021/October, Seg. 4 - Ethics and Social Responsibility

    Behavioral Ethics

    Potter Stewart, U.S. Supreme Court Justice, once said, "Ethics is knowing the difference between what you have a right to do and what is right to do." But is it really the question of "What is the right thing to do?" or it is deeper than that, as in "How do we get the right thing done?" Steven Mintz, professor emeritus, California Polytechnic State University, San Luis Obispo, gives us his views on ethics and social responsibility and if the ethical decision-making models used to teach ethics to accounting students really work.

    Learning Objectives:

    • Recognize the fraud triangle;
    • Understand the modifications in the area of whistleblower protection under the Dodd-Frank Act;
    • Identify steps to be considered when making ethical decisions; and
    • Recognize the difference between ethical decision-making models and the PLUS model.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in ethics.
    Author/Speaker: Steven Mintz
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Behavioral Ethics
    2

    FMN - 2021/September, Seg. 1 - Is It Time to "Retire" Full Costing?

    Miscellaneous

    Contemporary cost accounting for manufactured inventories is based on 73-year-old Generally Accepted Accounting Principles (GAAP). With overhead as a percentage of total manufactured costs having increased significantly since the original rule was developed, the opportunity for "earnings management" in financial statements has also increased. The implications are broad and do not impact only manufacturing companies. Jonathan Schiff, PhD and professor of accounting at Fairleigh Dickinson University, makes the case to reconsider this aspect of GAAP with a view towards improving alignment with the current business reality.

    Learning Objectives:

    • Describe the problems encountered with full absorption accounting;
    • Recognize how the percentage of overhead to total manufactured costs has changed;
    • Identify the risks presented by use of full absorption accounting under today's GAAP; and
    • List examples of earning management.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Jonathan Schiff
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2021/September, Seg. 2 - Auditing Standards Update: NOCLAR, Management Specialists and Pricing Services

    Auditing Standards

    The AICPA has issued guidance in 2021 on a number of issues that impact the auditor's work. In February, an Exposure Draft was issued dealing with Non-Compliance with Laws and Regulations (NOCLAR). In June, new guidance was issued on the use of specialists and pricing information. Ahava Goldman, associate director with the AICPA, reviews the standards in detail and explains the implications of the new rules.

    Learning Objectives:

    • Describe the AICPA changes dealing with Non-Compliance with Laws and Regulations (NOCLAR);
    • Recognize how to make and document inquiries related to NOCLAR;
    • Describe the new AICPA guidance for situations where a specialist is used and when pricing information is obtained from external sources; and
    • Identify the factors that may affect the relevance and reliability of the management specialist's work and that of pricing information.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or auditing, or an introductory course in auditing.
    Author/Speaker: Ahava Goldman
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Auditing
    2

    FMN - 2021/September, Seg. 3 - New Immigration Proposed Legislation - How It May Affect You

    Miscellaneous

    In January 2021, President Biden sent an immigration bill to Congress in his effort to modernize the current immigration system. The U.S. Citizenship Act of 2021 will provide pathways to citizenship and strengthen labor protections, prioritize smart border controls, and address root causes of migration. Roxanne Levine, partner at Tarter, Krinsky & Drogin and an immigration law expert for over 25 years, reviews the most significant changes in the new immigration comprehensive reform proposal under the Biden administration.

    Learning Objectives:

    • Understand the key provisions of the U.S. Citizenship Act of 2021;
    • Identify other significant areas of proposed new immigration legislation;
    • Recognize the areas where the current immigration system needs to be revamped; and
    • Understand the overall need of high and lower skilled foreign workers and the potential impact on certain industries as well our social security system.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in business law.
    Author/Speaker: Roxanne Levine
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Law
    2

    FMN - 2021/September, Seg. 4 - The Employee-Manager Relationship in Today’s Work Environment

    Management and Supervision

    The pandemic has resulted in a dramatic increase in working from home, and with working from home comes changing expectations. The remote environment that has existed in the pandemic has put some strain on the relationship between managers and employees. Julie Kantor, executive coach, management consultant and founder of JP Kantor Consulting, reviews the issues that have developed from a work from home environment during the pandemic. She also offers some suggestions for how to improve the new experience for employees and managers alike.

    Learning Objectives:

    • Recognize how communication between employees and employers has changed in the pandemic;
    • Describe what companies are doing to deal with the new communication challenges;
    • Recognize the importance of establishing a psychologically safe environment; and
    • Identify some steps managers can take to engage with employees.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Julie Kantor
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Management & Organizatio
    2

    FMN - 2022/April, Seg 1 - Tax Updates: The Latest on Research Credits, Expenses, & Revenue

    Corporate Tax Series

    There are a number of new developments and issues impacting corporate taxation. Ed Zollars, a partner with Thomas, Zollars & Lynch, Ltd., reviews a number of recent court cases, IRS Technical Advice Memorandums and other guidance from the IRS on the following topics: operation of the new research credit amended return procedures, current rules for business meal deductions, and recent court decisions related to the all events test.

    Learning Objectives:

    • Describe the information taxpayers are required to include for a research claim to be considered valid
    • Recognize what happens if the IRS determines your research claim is deficient
    • Describe the current rules for deductibility of business meals
    • Recognize when the all events test is met
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Ed Zollars
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/April, Seg 2 - How to Assess & Manage Risk Within Your Organization – Part II

    Managing Risk

    Insurance companies bet on uncertainty and inherent risk, focusing on both commercial and personal lines, and use the Insurance Services Office, ISO, as their administrative backbone. David Peters, tax practitioner and financial advisor at Peters Tax Preparation & Consulting, continues our segment by explaining ISO policies and elements common to both ISO policies and property and casualty insurance.

    Learning Objectives:

    • Understand the role of ISO and commonalities between ISO and property & casualty policies following the ISO or establishing their own language,
    • Identify what is covered under a commercial property insurance policy,
    • Recognize the importance of having cyber security coverage, and
    • Understand the types of insurance agreement under cyber policies.
    Prerequisites/Advanced Preparation: None
    Speaker/Author: David Peters
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/April, Seg 3 - COSO Framework – Part I

    COSO/Internal Control

    The COSO Framework has become the best practice basis for designing, implementing, and applying internal controls and assessing the effectiveness of these controls. John Fleming, education discussion leader at Kaplan Financial Education, discusses the framework that defines internal controls and describes the requirements for effective internal control, including components and relevant principles. He provides direction for all levels of management to use in designing, implementing, and conducting internal control and assessing its effectiveness.

    Learning Objectives:

    • Understand the provisions under the COSO framework
    • Define internal controls and what an effective internal control system means,
    • Recognize key controls and the importance of entity level controls, and
    • Identify the COSO framework objectives and components
    Prerequisites/Advanced Preparation: None
    Speaker/Author: John Fleming
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/April, Seg 4 - Trends in Management Accounting

    Management Accounting Tools

    The role of the accountant continues to evolve. Jeff Thomson, president and CEO of the Institute of Management Accountants, describes the megatrends that are occurring within the profession today. He outlines the steps that accountants need to take in order to remain relevant and take advantage of the opportunities brought on by digital transformation.

    Learning Objectives:

    • Identify the megatrends happening in accounting today
    • Recognize the importance of agility
    • Describe the keys aspects of finance transformation
    • Recognize what is involved in the race for relevance
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Jeff Thomson
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/February, Seg. 2 - Retirement Planning – What You Need to Know About Qualified Retirement Plans

    Miscellaneous

    There are certainly several types of qualified retirement plans available and it is often confusing for employers of different sizes to decide what would work best for their employees and their beneficiaries. A qualified plan is any plan that is described under Internal Revenue Code ("Code") Section 401(a) and must satisfy the Code in both form and operation. David Peters, a tax practitioner and financial advisor for Peters Professional Education, discusses various qualified retirement plans - their benefits as well as their limitations.

    Learning Objectives:

    • Understand the IRS definition of qualified retirement plans and related exceptions under IRC Section 401(a),
    • Recognize the differences between defined benefit plans and defined contribution plans,
    • Identify the special rules pertaining to 401(k) plans and optional features, and
    • Recognize the differences between cash benefit plans, target benefit plans, SEPs, and SIMPLE IRAs.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: David Peters
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/February, Seg. 3 - Accounting for Share-Based Payments Part 1 – Overview

    Accounting Processing Best Practice

    Companies frequently use share-based payments to compensate both employees and nonemployees. They can often be used to incentivize performance. However, the accounting for these types of transactions can be quite challenging. Bruce Pounder, Executive Director of GAAP Lab, provides an overview of share-based payments and explains how they are accounted for.

    Learning Objectives:

    • Describe what share-based payments are,
    • Recognize the U.S. rules for accounting for share-based payments,
    • Describe the ways in which accounting for share-based payments can get more complicated, and
    • Recognize how to account for share-based payments to employees of a subsidiary.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Bruce Pounder
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/February, Seg. 4 - Accounting for Share-Based Payments Part 2 – Complicating Conditions

    Accounting Processing Best Practice

    Share-based payments often come with strings attached. These kinds of conditions can complicate the accounting for share-based payments. An employee might be required to work a certain number of months to be entitled to stock options or a stock grant might be contingent on reaching a sales goal. Bruce Pounder, Executive Director of GAAP Lab, reviews these conditions and explains what you can do to manage the risks when making share-based payments.

    Learning Objectives:

    • Describe the conditions associated with share-based payments,
    • Recognize the accounting implications brought about by the conditions associated with share-based payments,
    • Describe the concerns that the SEC has related to share-based payments, and
    • Recognize how to manage the risks associated with share-based payments.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Bruce Pounder
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/January, Seg. 1 - Trade Finance & the Impact of Supply Chain Disruption – Part I

    Finance Best Practices

    Shortly after the shutdown last year, the federal government offered various types of assistance programs for both individuals and businesses. Loans, debt relief and grants were available in an effort to stabilize the financial markets and sustain some companies, though others were unable to withstand the blow of the pandemic and filed for bankruptcy or restructuring. Asset-based lenders, commercial banks, and non-bank financial institutions were faced with unforeseen situations, one of which was supply chain disruptions. Paul Schuldiner, EVP & division manager for Rosenthal Trade Capital, and Vincent Iacopella, EVP of growth and strategy for Alba Wheels Up, discuss in detail the impact of supply chain disruption in businesses, lending and the underwriting process.

    Learning Objectives:

    • Understand the changes in the marketplace during COVID
    • Identify the ramifications of supply chain disruptions
    • Identify the Future of cross-border financing
    • Determine the impact of supply chain disruptions on lending
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in finance.
    Author/Speaker: Vincent Iacopella, Paul Schuldiner
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Finance
    2

    FMN - 2022/January, Seg. 2 - Trade Finance & the Impact of Supply Chain Disruption – Part II

    Finance Best Practices

    U.S. Customs and Border Protection (CBP) has put several programs in place, one of which is Section 321. In August 2020, the CBP issued an administrative ruling that clarifies the Section 321 duty-free exemption status of certain low-value shipments sent to U.S. fulfillment centers and domestic warehouses. Paul Schuldiner, EVP & division manager for Rosenthal Trade Capital, and Vincent Iacopella, EVP of growth and strategy for Alba Wheels Up, talk about the shift to e-commerce and Section 321, as well as other major changes in rules and regulations for various modes of transportation as a result of the pandemic and how it reshaped logistics.

    Learning Objectives:

    • Understand key considerations for lenders with respect to commerce
    • Identify the changes in the rules and regulations for various modes of transportation as a result of the pandemic
    • Recognize lessons learned from the pandemic in lending and logistics
    • Recognize steps taken by companies who were successful during the pandemic
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in finance.
    Author/Speaker: Vincent Iacopella, Paul Schuldiner
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Finance
    2

    FMN - 2022/January, Seg. 3 - What Keeps Executives Up at Night

    Management and Supervision

    The world has changed dramatically since March of 2020. The issues that were keeping executives up at that time have been dwarfed by new challenges such as the pandemic, supply chain, inflation and employee turnover. Frank Castillo, a CPA, author and instructor, explains what executives can do to develop a strategy to navigate through these difficult times.

    Learning Objectives:

    • Recognize the issues that are keeping executives up at night
    • Describe how employees are feeling about work today
    • Recognize the cost of employee turnover
    • Describe what executives should be doing to meet today's challenges
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Frank Castillo
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/January, Seg. 4 - Ethical Obligations and Decision-Making in Business

    Miscellaneous

    Companies struggle to provide employees with a set of guidelines that enable them to make decisions that meet the standards for effective and ethical decisions. Steven Mintz, Professor Emeritus at California Polytechnic State University, describes one approach, the PLUS Ethical Decision-Making Model. He also discusses what a company can do to establish an ethical environment, the signs of ethical collapse, and the steps an individual should follow when facing an ethical dilemma.

    Learning Objectives:

    • Recognize what the PLUS Ethical Decision-Making model is based on;
    • Describe the things an organization needs to do to establish an ethical organization;
    • Recognize the differences between System 1 and System 2 thinking; and
    • Describe what motivates employees to speak out or not to speak out.
    • Recognize what the plus ethical decision-making model is based on; Describe the things an organization needs to do to establish an ethical organization; Recognize the differences between System 1 and System 2 thinking; Describe what motivates employees to speak out or not to speak out
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in ethics.
    Author/Speaker: Steven Mintz
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Behavioral Ethics
    2

    FMN - 2022/July, Seg. 1 - A Reimagined Approach to Tax

    Corporate Tax Series

    Partnerships are a unique taxable entity, partly because partners can generally share items of income, deductions, gains and losses, based on any predetermined percentage. These allocations, however, must have substantial economic effects. S corporations are similar to partnerships because both S corporations and partnerships are flow-through entities, meaning no tax is paid at the entity level. This segment will discuss how to determine substantial economic effect, as well as the importance of distribution equalization and its impact on S corporation elections.
    Learning Objectives:

    • Identify the key features of qualified business income deduction,
    • Understand the implications of shareholder distributions in an S corporation,
    • Recognize the differences of basis calculation between S corporations and partnerships, and
    • Understand the four tiers of losses that individual taxpayers have to go through in order to take a loss on their individual tax return.

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Speaker/Author: David Peters

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/July, Seg. 2 - A Reimagined Approach to Tax

    Miscellaneous

    Tax Reimagined is a technology-enabled holistic approach created by KPMG to help organizations develop and implement a customized operating model for their tax and finance functions. KPMG Partners Irene Shen and Richard Cimino discuss how companies can reduce costs, mitigate risks, improve quality, and drive more strategic value across the organization.
    Learning Objectives:

    • Recognize the important stages of the tax reimagined approach
    • Describe the key findings from the 2021 KPMG Outlook Survey
    • Recognize the challenges faced by tax functions today
    • Apply the guiding principles for technology investment in the tax function

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Speaker/Author: Irene Shen, Richard Cimino

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/July, Seg. 3 - An Introduction to Enterprise Risk Management

    Risk Management

    An Enterprise Risk Management program helps companies manage risks and accomplish their business goals. John McLaughlin, Executive Director and Founder of ERM Exchange reviews the key aspects of an ERM program including the role of culture, how to assess your ERM program, and the keys to tying ERM into overall company strategy.
    Learning Objectives:

    • Recognize the steps in starting an ERM program
    • Describe how ERM ties into a company's strategy
    • Recognize the role of culture in enterprise risk management
    • Identify the goals of business risk assessment

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Speaker/Author: John McLaughlin

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/July, Seg. 4 - An Ethical Dilemma: Confidentiality and Conflicts of Interest

    Miscellaneous

    A successful accountant is one who has the ultimate trust of their colleagues, clients and the general public. One of the most important aspects of maintaining this trust is the CPA’s unwavering ethical principles, both personally and professionally. The AICPA Code of Professional Conduct calls for CPAs to follow a set of specific rules and to always "act with integrity, objectivity, due care, competence, and to fully disclose any conflicts of interest." This program will provide the CPA with a thorough understanding of 2 intertwined ethical concepts – confidentiality and conflict of interest.
    Learning Objectives:

    • Apply the definition of confidential information to both private industry and public accounting.
    • Differentiate exceptions to the CPA’s ability to release confidential client information.
    • Recognize various situations in which conflicts of interest typically arise.
    • Identify the three steps in addressing conflicts of interest and the two types of conflict of interest disclosure.

    Advanced Preparation/Prerequisites: Work experience in a corporate staff environment, or an introductory course in ethics.
    Speaker/Author: Kenneth Heaslip

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Regulatory Ethics
    2

    FMN - 2022/June, Seg 1 - PTETs and SALT Highlights

    Corporate Tax Series

    The Tax Cuts and Jobs Act (TCJA), passed in 2017, didn’t change what a taxpayer can deduct on a federal level, such as property taxes, real estate taxes, sales tax etc., but it put a cap on these deductions. So, instead of adding all those taxes together and being able to deduct all of them, you are limited to $10,000, which has a significant impact on states with high income and real estate taxes. Lynn Mucenski-Keck, national tax , service group leader at Withum, gives us the highlights of the passthrough entity tax (PTET) and state and local tax (SALT).
    Learning Objectives:

    • Apply a state passthrough entity tax (PTET) and determine the benefits taxpayers receive from it,
    • Identify how the PTET deduction is allocated to the various shareholders or members,
    • Recognize the background of Notice 2020-75 and what a specified income tax payment is, and
    • Determine when the tax benefit rule is applicable and how it works.

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Speaker/Author: Lynn Mucenski-Keck

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/June, Seg 2 - What Accountants Need to Know About SPACs

    Financial Accounting Best Practices

    Special purpose acquisition companies, SPACs, have become the next big thing in equity markets. By providing a lower-barrier alternative, these companies have become, in some ways, the main way companies go public today. Josh Schaeffer Schaeffer, Head of Complex Securities Valuation with Equity Methods, explains everything you need to know about SPACs and provides an update on the latest developments related to this investment vehicle.
    Learning Objectives:

    • Interpret the overall SPAC model,
    • Determine the features in SPAC warrants that may result in liability treatment,
    • Distinguish how an FPA, a PIPE and convertible notes work, and
    • Recognize why CPAs need to know about SPACs.

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Speaker/Author: Josh Schaeffer

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/June, Seg 3 - Executive Compensation and Tax Implications

    Corporate Tax Series

    When it comes to compensating employees, companies are getting more creative. However, it is important to remember that any time we give an employee something of value, whether it’s special access to the company car during personal time, access to a corporate jet for personal use, or anything else of value, it is going to be treated as compensation unless there’s an IRS publication or some IRS authority that says otherwise. David Peters, tax practitioner and financial, advisor at Peters Tax Preparation & Consulting, gives us an overview of various types of executive compensation and the potential tax implications.
    Learning Objectives:

    • Differentiate the types of transactions the IRS recognizes as gross income under IRC section 61,
    • Recognize fringe benefits and how they are treated under publication 15-B,
    • Identify the types of the executive compensation plans available, and
    • Categorize some of the problems that companies and/or employees face with respect to employee stock

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Speaker/Author: David Peters

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN - 2022/June, Seg 4 - The COSO Framework: Seventeen Principles and Points of Focus

    COSO/Internal Control

    The COSO Framework has become the best practice basis for designing, implementing, and applying internal controls and assessing the effectiveness of these controls. John Fleming, long-time Kaplan , Financial Education discussion leader, reviews the COSO Framework’s five major components and 17 principles of effective internal control. He describes the various points of focus related to the principles and assesses their significance.
    Learning Objectives:

    • Categorize the primary concepts that define internal control,
    • Identify the five components of internal control under the COSO Framework,
    • Recall key elements of the five components of internal control, and
    • Recognize the characteristics of the COSO Framework’s 17 principles of internal control

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Speaker/Author: John Fleming

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/March, Seg. 1 - Finance Trends Today: Forecasting, Data and Automation

    CFO/Controller Best Practices

    Protiviti's 2021 Global Finance Trends Survey reveals an unambiguous conclusion. The world, business and finance teams have entered a new era and there is no going back. Tim Hird, executive vice president with Robert Half, and Jay Thompson, a managing director with Protiviti, review the results of the survey focusing on how financial executives feel about issues such as forecasting and planning, robotic process automation, data, and talent management.

    Learning Objectives:

    • Identify the major themes that came out of the Protiviti 2021 Global Finance Trends Survey;
    • Describe the challenges involved with forecasting today;
    • Recognize how robotic process automation is changing the role of the accountant; and
    • Describe how remote and hybrid work are changing the way finance operates.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Tim Hird, Jay Thompson
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/March, Seg. 2 - The World of Accounting Outsourcing

    Accounting Processing Best Practice

    Accounting outsourcing services, often provided by CPA firms, accounting and financial professionals and consulting firms, have been around for a while and have gained more popularity in the last two years. This was a trickle down effect of the pandemic and the great resignation. Small and medium enterprises found themselves unable to manage their day-to-day workload as they were left with minimal to no staff, or staff filling unfamiliar roles and tasks. Jason Pourakis, partner, accounting and advisory service line leader and Marine Rollinger, partner, accounting outsourcing services practice leader, at Mazars USA, discuss the world of accounting outsourcing.

    Learning Objectives:

    • Understand the meaning of accounting outsourcing and the types of services provided
    • Recognize the advantages of using accounting outsourcing for privately held and publicly traded companies
    • Identify ways risk is reduced by the use of outsourcing
    • dentify some of the important considerations when choosing a firm to outsource your books
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting.
    Author/Speaker: Jason Pourakis, Marine Rollinger
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/March, Seg. 3 - How to Assess & Manage Risk Within Your Organization – Part I

    Managing Risk

    Building a successful risk management program is not as straightforward as one might think. It includes several focus areas such as a full risk management assessment and process, a regularly updated and evaluated risk register, and a comprehensive insurance program that starts with a package policy. David Peters, tax practitioner and financial advisor at Peters Tax Preparation & Consulting, discusses how to build an effective risk management program and the main risks controllers and financial professionals typically face.

    Learning Objectives:

    • Identify the six risk control techniques when building a risk management program,
    • Understand the difference between transferring risk and risk retention,
    • Determine the two components of risk register scoring and the ways to potentially change the score, and
    • Understand the main sections of insurance policies that you must not ignore.
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: David Peters
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/March, Seg. 4 - Delegating, Coaching & Mentoring: Becoming an Effective Leader

    Management and Supervision

    Accounting and finance professionals need a variety of tools today to become effective leaders in their organizations. Amongst those tools are three in particular, delegating, coaching and mentoring, that have nothing to do with technical competencies. Dr. Belinda Johnson White, founder, owner and managing director of Building Leaders LLC, discusses what each of those tools entails, the steps to take in order to be effective, and the benefits to both the employees and the organization when done right.

    Learning Objectives:

    • Recognize why delegating is important
    • Describe the benefits of delegating to the employee and to the organization
    • Recognize the skills needed for coaching and mentoring
    • Identify the four steps in the coaching process
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.
    Author/Speaker: Dr. Belinda Johnson White
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Professional Development
    2

    FMN - 2022/May, Seg 1 - SEC Updates: Climate Related Disclosures & Equity Compensation – Part I

    Financial Reporting Issues

    The SEC has been very hands-on recently with respect to their agenda. Takis Makridis, CEO of Equity Methods and David Outlaw, director of valuation and HR advisory services at Equity Methods, give us an update. They give us insights on climate-related disclosures requiring registrars to include these in their registration statements and periodic reports, equity compensation disclosures, proposed rule 402(x) on Reg S-K, SAB no. 120, the proposed share repurchase disclosure rule and more.

    Learning Objectives:

    • Understand the rules proposed by the SEC on climate-related disclosures in registrant statements and periodic reports,
    • Identify the potential impact of Section 194-b in the U.S. NYS Senate Bill S5598B,
    • Understand the SEC’s proposed update on rule 10b5-1 on affirmative defense and the implications of proposed item 402(x) addition
    • to Reg S-K, and
    • Identify the accounting guidance on spring-loaded awards under SAB No. 120.
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Takis Makridis, David Outlaw
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/May, Seg 2 - SEC Updates: Climate Related Disclosures & Equity Compensation – Part II

    Financial Reporting Issues

    Back in 2020, the human capital disclosures became mandatory and the SEC took a principle-based approach. Takis Makridis, CEO of Equity Methods and David Outlaw, director of valuation and HR advisory services at Equity Methods, discuss the new era of financial reporting. This includes non-financial disclosures, ISS updates to burn rate methodology, how these are displayed in the 2022 reports and why they matter and the impact of macroeconomic factors on compensation strategies.

    Learning Objectives:

    • Recognize how to approach the SEC's human capital disclosure requirements,
    • Describe how macroeconomic factors are impacting compensation strategies,
    • Recognize the critical factors relating to equity compensation today, and
    • Describe the trend towards more insight-focused topics in accounting.
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Takis Makridis, David Outlaw
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/May, Seg 3 - The Flexible Labor Model for Accounting and Finance

    Interviewing and Recruitment

    Prior to Covid-19, leading accounting and finance functions were deploying more flexible labor models. This trend only accelerated after the pandemic which helped companies deal with the many new challenges. Tim Hird, Executive Vice President with Robert Half and Jay Thompson, Managing Director with Protiviti explore this shift and the implications for both companies and workers alike.

    Learning Objectives:

    • Identify the factors that are driving companies to use flexible labor models;
    • Recognize how to work with contractors, outsourcers, and managed service providers;
    • Describe what is meant by the Shamrock Organization; and
    • Recognize the financial and nonfinancial things that are important to employees.
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Jay Thompson, Tim Hird
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Management & Organizatio
    2

    FMN - 2022/May, Seg 4 - Leadership in Challenging Times

    Effective Communication Skills

    The pandemic has taught us how important leadership is. When faced with the challenges brought on by the pandemic, companies with strong and effective leaders weathered the storm and in fact many prospered. Author, lecturer, and CPA Frank Castillo discusses the importance of trustworthiness, the root causes of burnout, and what leaders should be doing to meet today's challenges.

    Learning Objectives:

    • Recognize how to strengthen the bonds of trust
    • Describe the root causes of burnout
    • Recognize what the office of tomorrow will look like, and
    • Describe what leaders should be doing to meet today's challenges.
    Prerequisites/Advanced Preparation: None
    Speaker/Author: Frank Castillo
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Personal Development
    2

    FMN - 2022/September, Seg. 1 - Inflation: Deja Vu All Over Again

    Financial Markets
    The modern accountant is not only expected to know their numbers and have great presentation and soft skills but also needs to understand the ever-changing economic environment. These macro changes often have a keen impact on the accountant's daily decisions about financial statement preparation and analysis, vendor payments, customer borrowing terms, investments, acquisitions, and consolidations, to name a few. One of the most recent, and perhaps the most talked about such changes is the rapid increase in prices. Today's inflation seems to be a fact, but what does it mean for accountants and their daily jobs? Kyle Tushaus, a Managing Partner of New West Capital, specializes in the value investing approach. In this program, he discusses the definition of inflation, the calculations behind CPI, and the impact of today’s economic environment on the accounting profession.

    Learning Objectives:

    • Differentiate between the two economic theories used to understand how inflation manifests itself.
    • Apply the two types of Consumer Price Index (CPI) calculations.
    • Identify the importance of inventory method selections, capital expenditures, and depreciation expense calculations during an inflationary environment.
    • Recognize the impact of supply chain disruptions and commodity price increases on today's economic environment.

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment or an introductory course in management

    Speaker/Author: Kyle Tushaus


    SKILL LEVEL:
    Overview
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN - 2022/September, Seg. 2 - The Human-Centric Workplace: Your Greatest Asset

    Interpersonal Relationship at Work

    Workplaces are getting much more nuanced and require a more human-centric approach, considering a full person, their needs, and their experiences regarding what they want out of their work life. Diversity, equity, and inclusion are about having a workplace environment where differences between identity groups are respected, celebrated, and leveraged to create a successful organization. Not only do employers have an obligation to provide employees with a safe work environment free from discrimination, harassment,  and intimidation, but there is a great benefit to the company as a whole.

    Learning Objectives

    • Apply the head-to-heart strategy to encourage an inclusive work culture
    • Identify strategies to handle a biased incident & manage emotional responses
    • Recognize how to create a psychologically safe workplace
    • Describe how to measure diversity, equity, and inclusion

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment or an introductory course in management

    Speaker/Author: LB Hannahs

    SKILL LEVEL:
    Overview
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN - 2022/September, Seg. 3 - FASB Update Part I: Shifting Focus

    Financial Accounting Issues

    The ever-increasing complexity of business transactions combined with more public and regulatory scrutiny has proved to be a challenge for both standard setters and finance professionals. The FASB consistently strives to reduce complexity in financial reporting for all stakeholders. Sean Prince is a partner at the national office of Crowe LLC and is the firm’s formal liaison with the Financial Accounting Standards Board. He covers FASB’s most recent Invitation to Comment and their plans for financial reporting transformations that will impact all finance professionals.

    Learning Objectives

    • Identify how the FASB is reducing complexity in accounting standards
    • Determine accounting treatment for digital assets & software development costs
    • Recognize ESG accounting implications
    • Distinguish FASB projects that will result in either a proposed or final standard in the near future.

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting/auditing, or an introductory course in accounting/auditing

    Speaker/Author: Sean Prince, CPA
    SKILL LEVEL:
    Overview
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN - 2022/September, Seg. 4 - Employee vs. Independent Contractor: Still a Major Concern

    CFO/Controller Best Practices
    The question of whether a worker is an employee or an independent contractor is almost as famous as Shakespeare's ""to be or not to be''. It is critical that companies correctly determine a worker's status. Timothy Dreyer, a tax consultant and educator with over 44 years of high profile Big 4 and IRS experience, explains the factors that need to be considered when making the determination between a worker being an employee or independent contractor.
    Learning Objectives:
    • Recognize the categories of control that must be considered when classifying a worker as an employee or independent contractor
    • Describe the key factors that determine behavioral control
    • Recognize the important questions to ask when determining financial independence
    • Describe the major considerations that help define the type of relationship between a worker and a company
    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Speaker/Author: Timothy Dreyer, J.D.
    SKILL LEVEL:
    Overview
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN-2022/August, Seg 1 - Breaking the Code: Accounting for Digital Assets

    Financial Reporting Issues

    Nearly 15 years ago, the usage of Bitcoin began at an almost hobbyist level. However, after multiple cycles of extreme exuberance and extreme pessimism, today's attention from institutional investors and regulators alike points to the fact that crypto assets are here to stay. Vincent Papa, Associate Director at the European Financial Reporting Advisory Group (EFRAG), discusses pertinent topics like balance sheet classification, valuation and "proof of work" mining.

    Learning Objectives:

    • Determine crypto asset classification on the balance sheet.
    • Recognize the steps required for the "proof of work" mining process.
    • Distinguish various crypto asset valuation techniques.
    • Identify the reporting options available to issuers of crypto assets.
    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting/auditing, or an introductory course in accounting/auditing
    Author/Speaker: Vincent Papa
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2022/August, Seg 2 - Enterprise Risk Management: Getting Started

    Risk Management

    An Enterprise Risk Management program helps companies manage risks and accomplish their business goals. John McLaughlin, Executive Director and Founder of ERM Exchange reviews the key aspects of an ERM program including the role of culture, how to assess your ERM program, and the keys to tying ERM into overall company strategy.

    Learning Objectives:

    • Recognize the steps in starting an ERM program
    • Describe how ERM ties into a company's strategy
    • Recognize the role of culture in enterprise risk management
    • Describe the goals of business risk assessment
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management
    Author/Speaker: John McLaughlin
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN-2022/August, Seg 3 - The Strategic Accountant: Leveraging Technology & Soft Skills

    Management Accounting Tools

    Today's accountants need to stay current and agile when it comes to leveraging the many technological tools at their disposal. It is important for the strategic accountant to utilize technology to maximize this agility. Kimberly Ellison-Taylor, CEO of KET Solutions, focuses on innovation, strategy, transformation and inclusive leadership in the accounting profession. She offers guidance for leveraging technology to become a strategic accounting partner.

    Learning Objectives:

    • Apply cloud solutions to maximize flexibility in the work environment and manage software costs
    • Use technology to mitigate risk, increase efficiency and contribute to strategy
    • Identify ways to take ownership of digital transformation and surface as a technological leader
    • Formulate optimal approaches to change management related to technology
    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management
    Author/Speaker: Kimberly Ellison-Taylor
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN-2022/August, Seg 4 - Worker Classification and the QBI Deduction

    Corporate Tax Series

    The Qualified Business Income Deduction (QBID) also known as Section 199A was included as part of the 2017 Tax Cuts and Jobs Act. Dr. Ini Adensanya, CPA and award-winning educator, and Timothy Dreyer, tax and legal consultant with over 27 years at the IRS review what goes into the QBI deduction and how it is calculated. They also explain the key considerations involved with worker classification.

    Learning Objectives:

    • Recognize what is included as part of qualified business income (QBI)
    • Describe the considerations that go into calculating a QBI deduction
    • Recognize the key issues involved in worker classification
    • Describe the three categories of control that help determine whether a worker is an employee or independent contractor
    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.
    Author/Speaker: Dr. Ini Adensanya, Timothy Dreyer
    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN-2022/December, Seg 1 - Cryptocurrency Deep Dive: Topics Most Haven't Considered

    Financial Accounting Issues

    A digital currency wallet allows you to send, receive, and spend digital assets like Bitcoin and Ether. Mark Eckerle, a Senior Manager and Team Leader of Withum's digital technology and blockchain technology, reviews all aspects of crypto wallets. Topics discussed include the different types of wallets, internal control considerations and public versus private blockchain.

    Learning Objectives:

    • Describe the main types of crypto wallets
    • Recognize the internal control considerations related to crypto wallets
    • Describe what a blockchain is
    • Recognize the differences between a public and private blockchain

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting/auditing, or an introductory course in accounting/auditing

    Speaker/Author: Mark Eckerle

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2022/December, Seg 2 - Transfer Pricing: Controversy and Compliance

    Corporate Tax Series

    According to the results of a 2020 Global Multinational Corporation (MNC) Tax Survey, transfer pricing ranks at the top of the complexity scale. In this segment Grant Thornton's Steven Wrappe tries to make it more understandable by offering an innovative seven step approach to transfer pricing. He also discusses the controversies surrounding this challenging topic and reviews recent trends and their implications on corporations today.

    Learning Objectives:

    • Recognize a seven-step approach to transfer pricing
    • Describe how to determine a method for testing the fairness of your transfer pricing
    • Recognize the documentation requirements and associated penalties relating to transfer pricing
    • Describe the recent trends in transfer pricing

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.

    Speaker/Author: Steven Wrappe

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN-2022/December, Seg 3 - Statement on Standards for Tax Services: New Rules

    Corporate Tax Series

    Statements on Standards for Tax Services, or SSTSs, are tax standards that apply to all members of the AICPA. In August of 2022 the AICPA released an Exposure Draft that would update the SSTSs and create new standards around data protection, reliance on tools and representation before taxing authorities. Nick Preusch, Tax Manager with YHB CPAs, provides a review of the ED and its implications.

    Learning Objectives:

    • Recognize why the AICPA Task Force developed an Exposure Draft to update the Statement on Standards for Tax Services (SSTSs)
    • Describe the major issues addressed in the SSTS Exposure Draft
    • Recognize how the SSTSs differ from Circular 230 -Describe the importance of maintaining tax quality control

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.

    Speaker/Author: Nick Preusch

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN-2022/December, Seg 4 - Subpoena Implications for Accounting and Finance

    CFO/Controller Best Practices

    Accountant–client privilege is a confidentiality privilege, or more precisely, a group of privileges, defined in American federal and state law. CPAs have an ethical duty to keep their client information confidential. However, CPAs and other financial professionals often receive subpoenas related to their clients’ confidential information. This segment discusses the responsibilities of the CPA or financial professional when served with a subpoena and how to balance that with the obligation to protect client confidentiality.

    Learning Objectives:

    • Identify what documents are required by a subpoena and what is included in the definition of “documents”
    • Recognize situations in which accounting and finance professionals are involved in the subpoena process
    • Distinguish several ways to respond to a subpoena while prioritizing client confidentiality
    • Identify how to raise objections to and/or reduce the scope of subpoena demands

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in business law.

    Speaker/Author: David Richan

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Business Law
    2

    FMN-2022/November, Seg. 1 - Transfer Pricing: How It Impacts Your Organization

    Interpersonal Relationship at Work

    For decades, corporate tax executives have listed transfer pricing as one of their top tax priorities. Due to the impact of income allocations on a company's bottom line, accountants need to be extremely careful when tax planning and documenting their efforts. Grant Thornton's Steven Wrappe explains what the key issues are relating to transfer pricing, why they are hard to resolve and how your organization can deal with the implications.

    Learning Objectives:

    • Recognize why transfer pricing is a significant tax issue
    • Describe what transfer pricing is and what makes it unique
    • Recognize what makes transfer pricing hard to resolve
    • Describe what an Advanced Pricing Agreement is

    Prerequisites/Advanced

    Preparation: Work experience in tax planning or tax compliance, or an introductory course in taxation.

    Speaker/Author: Steven Wrappe

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Taxes
    2

    FMN-2022/November, Seg. 2 - Taking the Finance & Tech Partnership to the Next Level

    Financial Reporting Issues

    With the advent of technology, the accountant has moved far beyond the traditional role of bookkeeping and payroll. Technologies such as cloud-based data management, process automation and advanced analytics are elevating accountants to the level of financial business partner. David Culley, of Future Finance Training, expands on his first segment exploring technological change in the accounting world and discusses how to take the accounting and technology partnership to the next level.

    Learning Objectives:

    • Recognize how to leverage technology to go from being a descriptive to a prescriptive finance business partner
    • Distinguish and leverage the soft skills of the future accountant
    • Recognize the best way to optimize shared services in a technologically inter-connected world
    • Identify what the accountant's role of the future will be

    Prerequisites/Advanced

    Preparation: Work experience in tax planning, tax preparation or review and knowledge of information technology.

    Speaker/Author: David Culley

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN-2022/November, Seg. 3 - The Skillset Behind CECL Implementation: Methods and Validation

    Miscellaneous

    Model methodology and testing is considered by many to be the most crucial part of a CECL validation implementation. An effective validation helps ensure that models are sound, and all model components including input, processing, and reporting should be subject to validation. Ivan Cilik, a Partner, and Sean Statz, a Senior Manager, both with the accounting firm Baker Tilly, explain the importance of the validation process and the best practices in use today.

    Learning Objectives:

    • Recognize the process involved with CECL model validation
    • Identify the different methods being used to estimate credit loss
    • Recognize the best practices for doing a validation
    • Describe the model replication approach

    Prerequisites/Advanced

    Preparation: Work experience in financial reporting or accounting/auditing, or an introductory course in accounting/auditing

    Speaker/Author: Sean Statz, Ivan Cilik

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2022/November, Seg. 4 - Translating Employee Engagement into Organizational Success

    Corporate Tax Series

    Successful organizations know how to respond to constantly evolving social and political trends. It is crucial to adapt corporate culture to remain successful and relevant. Dr. LB Hannahs, Director of Service Delivery at Tangible Development, discusses best practices in optimizing corporate culture to derive both short and long-term benefits for the company on social, operational, and financial levels.

    Learning Objectives:

    • Recognize the importance of employee resource groups (ERGs) to maximize employee engagement
    • Describe the benefits of ERGs to both individual employees and the organization
    • Identify the key elements of research done in employee engagement and corporate culture
    • Describe the challenges companies face in creating the right corporate culture

    Prerequisites/Advanced

    Preparation: Work experience in a corporate staff environment, or an introductory course in management

    Speaker/Author: Dr. LB Hannahs

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Advisory Services
    2

    FMN-2022/October, Seg. 1 - The Long-Term Value of Standardizing ESG

    Financial Reporting Issues

    The history of sustainability has changed over the years. It began as a form of corporate philanthropy but has since evolved significantly to focus on value creation and the significance of ESG in today’s world. Jeremy Osborn, Global Head of ESG representing AICPA-CIMA, describes where we are with Environmental, Social, and Governance (ESG) initiatives today and emphasizes the role accountants play in supporting sustainability reporting.

    Learning Objectives:

    • Recognize the meaning of sustainability today
    • Describe the role that accountants play in supporting sustainability
    • Recognize the impact that the Task Force on Climate-related Financial Disclosures (TFCD) is having on the ESG movement
    • Describe the activities of three major sustainability initiatives that the TFCD inspired

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting or an introductory course in accounting.

    Speaker/Author: Jeremy Osborn

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2022/October, Seg. 2 - Technology: Embracing Your Inner Accounting Tech Genius

    Miscellaneous

    As intelligent technologies progress, accountants must become proficient in the latest robotic processing automation, cloud applications, and data analysis to offer clients up-to-date financial insights and stay competitive. This segment explores how the future accountant must be technologically savvy to evolve with the changing industry.

    Learning Objectives:

    • Identify how to attain and maintain a high level of digital literacy
    • Recognize how to use machine learning to streamline accounting tasks
    • Select software applications that add value to the accounting function
    • Identify artificial intelligence applications for finance and accounting

    Prerequisites/Advanced Preparation: Work experience in tax planning, tax preparation or review, and knowledge of information technology.

    Speaker/Author: David Culley

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN-2022/October, Seg. 3 - The Future of CECL Implementation

    Financial Accounting Issues

    The current expected credit loss (CECL) standard is one of the most significant accounting changes in decades. It affects how companies evaluate the impairment of financial assets such as loans, receivables, and investments in debt securities. Ivan Cilik, a Partner, and Sean Statz, a Senior Manager, both with the accounting firm Baker Tilly describe the major aspects of the CECL standard and explain the significant challenges of its implementation.

    Learning Objectives:

    • Recognize why FASB issued a new standard dealing with credit loss
    • Describe the key elements of the CECL standard
    • Identify the disclosure requirements brought about by the CECL standard
    • Recognize the challenges involved with implementing the CECL standard

    Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting or an introductory course in accounting.

    Speaker/Author: Ivan Cilik, Sean Statz

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2022/October, Seg. 4 - Cybersecurity Challenges in Today's Changing Environment

    Data Integrity and Security

    As the business world becomes digitally interconnected, cybersecurity and data protection have become major priorities for most organizations. Ben Doane, Director of Cybersecurity Managed Services, and Rick Burtt, Director of Enterprise Managed Services, both with Mazars USA, discuss why cybersecurity is important, how to prepare for cyber threats and what to do on the day after.

    Learning Objectives:

    • Recognize the impact of a ransomware event
    • Identify what's important when dealing with a cyber-attack
    • Recognize the risks when paying a ransom after a cyber-attack
    • Describe the steps a company should take to protect itself from cyberthreats

    Prerequisites/Advanced Preparation: Work experience in tax planning or tax compliance or an introductory course in taxation.

    Speaker/Author: Ben Doane, Rick Burtt

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Information Technology
    2

    FMN-2023/January, Seg 1 - Exceeding Expectations Beyond Ethics

    Managing Change

    Professional accountants, whether in business or public practice, have been viewed as ethical leaders. The profession's Code of Ethics imposes on accountants a responsibility to act ethically. Diane Jules, a Director of the International Ethics Standards Board for Accountants (IESBA), discusses her organization's Code of Ethics and why having a code is important. She also reviews the impact of organizational culture, technology, and diversity and inclusion (D&I) on ethics.

    Learning Objectives:

    • Identify the fundamental principles of ethics developed by the International Ethics Standards Board for Accountants (IESBA)
    • Recognize the role of organizational culture in creating an appropriate ethical environment
    • Describe what accountants can do to deal with the pressures that can lead to a breach of ethics
    • Recognize why independence is so important to the accounting profession

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment or an introductory course in ethics.

    Speaker/Author: Diane Jules

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Behavioral Ethics
    2

    FMN-2023/January, Seg 2 - The Board of Directors: Building the Company of Tomorrow

    Managing Change

    In today’s corporate world, it has now become very much part of the Board of Directors’ duties to see that there are frameworks and policies around ESG. Helle Bank Jorgensen, founder, and chief executive of Competent Boards, has more than 30 years of experience evaluating ESG risks and opportunities for leading Fortune 500 companies and smaller and medium-sized businesses. She shepherds us through an analysis of current and future implications related to ESG for board members and financial executives at today’s leading companies.

    Learning Objectives:

    • Identify how the Board’s role is evolving to accommodate corporate and societal needs of the future
    • Distinguish and use stakeholder input on Board purpose and function related to company operations and success
    • Identify recent SEC proposals and that of other regulatory bodies related to the environment, social, and governance issues
    • Recognize board competencies necessary to manage ESG issues effectively.

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment or an introductory course in management

    Speaker/Author: Helle Jergensen

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

    FMN-2023/January, Seg 3 - The Accountant's Role in Leveraging ESG

    Management Accounting Tools

    ESG has been a hot topic in the political and business worlds for years and is now drawing a great deal of attention in the accounting arena. Katherine Smith, Executive Director of the Center for Corporate Citizenship, reviews the recently issued proposals by the SEC that would help to improve ESG disclosures and suggests some new ways of thinking about ESG and accounting.

    Learning Objectives:

    • Describe the SEC's proposed climate disclosure rules
    • Recognize the new ways to think about ESG and accounting
    • Describe the things that companies should consider relating to managing ESG issues

    Identify the different regulators that are establishing ESG-related rules Prerequisites/Advanced Preparation: Work experience in financial reporting or accounting, or an introductory course in accounting

    Speaker/Author: Katherine Smith

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Accounting
    2

    FMN-2023/January, Seg 4 - Sustainability: "S" Stands for "Social"

    Managing Change

    Accountants have an ethical obligation to make decisions that are free from bias and take into consideration environmental, social, and governance (ESG) factors. Loreal Jiles, Vice President, Research and Thought Leadership, with the Institute of Management Accountants reviews the intersection of ethics and ESG and how accountants, external stakeholders, and regulators are leading the way to improved sustainable business management.

    Learning Objectives:

    • Recognize why accountants need to focus on more than external reporting -Describe what is meant by sustainable business management
    • Recognize what companies are doing related to DE&I (Diversity, Equity, and Inclusion)
    • Describe the connection between ethics and ESG (Environmental, Social, and Governance) initiatives

    Prerequisites/Advanced Preparation: Work experience in a corporate staff environment, or an introductory course in management.

    Speaker/Author: Loreal Jiles

    SKILL LEVEL:
    Update
    DELIVERY TYPE:
    QAS Self Study
    FIELD OF STUDY:
    Management Services
    2

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