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This program addresses the many business financial accounting issues that are impacting the CPA practice in a world of crisis. The unique financial reporting and planning challenges facing practitioners are explained using actual practice situations and then analyzed for their reporting implications. Financial accounting for PPP loan forgiveness will be discussed, along with a review and update of GAAP topics impacting current crisis financial reporting.

Learning Objectives: To provide an exploration of numerous practical financial reporting situations caused by the COVID-19 related economic crisis.

Program Content:

  • "Real-life" examples and practice issues facing CPAs in these extraordinary times
  • Accounting for PPP loan forgiveness.
  • GAAP impact on economic crisis financial reporting.
  • Lease accounting rules.
  • AICPA, FASB, and SEC pronouncements related to COVID-19.
  • Planning and financial statement preparation in times of crisis.

Who should attend: CPAs in public practice seeking an update on the latest financial accounting developments affecting their business as they relate to the COVID-19 economic stress.

Program Level: Basic

Developed By: Federal Tax Workshops, Inc

Instructor: Steven C. Dilley, CPA, JD, PhD

CPE Credit: 2 hours

Field of Study: Accounting

Prerequisites: None

Advanced Preparation: None


Steven C. Dilley, CPA, JD, PhD

Steve is President of Federal Tax Workshops, Inc., where for over 40 years, he has developed and presented continuing education seminars and webinars on tax, accounting and ethics topics for accountants and attorneys throughout the country. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and has published numerous articles on these topics.

In addition, Steve is a Professor Emeritus of Accounting at Michigan State University, East Lansing, where he taught tax accounting. He has been received the “Distinguished Achievement in Accounting Education Award” in Michigan, as well as the MSU Accounting and Information Systems Department Outstanding Teacher Award.