You are invited to attend a continuing education (CPE) event for accounting and finance professionals. The program allows you to earn four hours of CPE credit, keep up-to-date on accounting and finance issues and network with other professionals.
These CPE Sessions are conducted under the IMA's Global Core Values and IMA's Statement of Ethical Professional Practice. Adherence to these statements are required to participate in this event.
Here are the June 2021 topics:
SPACs VOLUME 397 – Worthy Investments or Killers?
Field of Study: Specialized Knowledge
SPACs, special purpose acquisition companies, have been around since the early 2000s, yet they have been the biggest trend over the past year. When there is a surge, especially of that magnitude, there is also scrutiny. The SEC looks very closely at filings and disclosures by SPACs to protect the public so investors can make informed investment decisions. Warren Buffet considers the SPAC boom a "killer," but is there another side to SPACs? Opinions are split. SPACs are in the news almost daily, but the question is how long will this boom last and is this really a "killer"? Brian Sarkis, CFA, founder of The Franklin Nova Group discusses SPACs in detail, how they work, and the underlying risks.
Topic 842 Leases – Are You Ready?
Field of Study: Accounting
In February 2016, the FASB issued new authoritative guidance on accounting for leases. The new guidance is commonly referred to as Topic 842, which is a reference to the Leases topic of the FASB Accounting Standards Codification®. All reporting entities that prepare financial statements in accordance with U.S. GAAP must adopt Topic 842 as a replacement for previous GAAP on accounting for leases. Leases are one of a company’s most significant costs that can directly impact business operations as well as valuation. Joe Fitzgerald, senior vice president of Lease Market Strategy at Visual Lease, discusses the impact of leases on the balance sheet based on the new standard, the underlying risks when leases are neglected or not accounted for, and what to look for when evaluating lease software.
The Human Element Behind Numbers
Field of Study: Management Services
Executives are always under pressure, but there is nothing like the pressure they felt and still feel due to the pandemic. In the initial months they were faced with having to present to stakeholders short-term forecasts in order to make numbers talk about an unpredictable future. An impossible task, but they delivered. They had to evaluate their company’s viability with several unknown elements and assumptions that could not have been based on historical results. There has been nothing comparable to a global pandemic in recent years. Since the pandemic, we keep talking about companies and the pressures they feel to perform and stay afloat. But we seldom talk about the executives themselves, the human element behind the numbers. Julie Kantor, business psychologist, founder of JP Kantor Consulting, reveals the importance of focusing on the human aspect.
Economic Value Added – A Net Income Alternative
Field of Study: Accounting
Economic value, or economic value added, or as some people refer to it, economic profit, is an alternative to net income; many people believe that net income may not be an appropriate measurement to identify value creation for an organization. So an alternative has been developed to evaluate value creation, known as the economic value model. Most companies present their financial statements based on GAAP, generally accepted accounting principles, but there are some weaknesses when we are trying to figure out a company’s value. John Fleming, CPA at Kaplan Financial Education, explains why a net income alternative might be a better measurement in certain situations and to specific companies.