This course provides an overview of several of the key accounting and reporting topics within U.S. GAAP.  This includes a discussion of

  • accounting for business combinations,
  • revenue recognition principles, and
  • leasing transactions. 
  • goodwill impairment,
  • segment reporting,
  • how to account for software (both internal-use and for resale)

This course also addresses requirements related to accounting changes and error corrections

CPE Acceptance


CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)

Not Valid For:

Tax Preparer

Not sure?  Contact us!

Online Course Materials

Fully online PDF materials included in course.

Login to your course to read online / print / save to local drive

Materials include:

  • Clickable table of contents
  • Learning objectives--each section
  • Review questions--each section
  • Answers to review questions + explanations
  • Glossary of terms used
  • Worksheets, forms and examples
  • Index with page numbers

* Fully searchable *


Fun CPE Course #: KCX51122
Materials: Online materials
Format: Interactive self-study
Subject: Accounting
Exam questions:  Final-80 multiple choice
Document length:  273 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 10/03/22
Expiration: One year from enrollment

 Learning objectives

The objectives of each chapter are as follows.

Chapter 1 – Accounting for Business Combinations

  • Identify the definition of a business as it relates to a business combination transaction
  • List the steps involved in the acquisition method
  • Identify the acquisition date for a business combination
  • Recognize how to measure goodwill and gains from bargain purchases
  • Identify the measurement period for business combinations
  • Recognize financial statement disclosures related to business combinations

Chapter 2 – Revenue Recognition

  • List the five steps involved in the new revenue recognition model
  • Recognize the considerations involved in identifying whether a contract exists
  • Identify the considerations involved with measuring the transaction price
  • Recognize the steps involved in allocating the transaction price to performance obligations

Chapter 3 – Lease Transactions

  • Determine whether an arrangement contains a lease
  • Identify considerations with respect to substitution rights
  • Identify the criteria for the new finance lease and short-term leases
  • Recognize the new recognition and measurement requirements for both lessees and lessors
  • Identify the requirements related to lease modifications
  • Identify presentation and disclosure requirements for both lessees and lessors

Chapter 4 – Goodwill Impairment

  • Identify the recognition requirements related to goodwill
  • Recognize overall characteristics of goodwill impairment testing
  • Differentiate between the qualitative and quantitative test of goodwill impairment
  • Identify key characteristics of the accounting alternative for goodwill
  • List the key disclosure requirements for goodwill and goodwill impairment losses

Chapter 5 – Segment Reporting

  • Identify key characteristics of operating segments
  • Recognize characteristics of the entity’s chief operating decision maker
  • Identify the quantitative thresholds used for reportable segments
  • Recognize disclosure requirements for reportable segments as well as entity-wide disclosures

Chapter 6 – Accounting for Software

  • Distinguish between software that is considered internal-use and not considered internal-use
  • Recognize how implementation costs are accounted for in various stages of software development
  • Identify when capitalization and amortization should commence
  • Recognize how implementation costs of hosting arrangements are accounted for differently
  • Recognize software that is within the scope of ASC Topic 985-20
  • Identify how software costs are recorded prior to and after establishing technological feasibility
  • Recognize how amortization is recorded for capitalized software costs
  • Identify general disclosure requirements related to software for resale

Chapter 7 – Accounting Changes and Error Corrections

  • List the different types of accounting changes and how they affect an entity’s financial statements
  • Differentiate between the requirements for the different types of accounting changes
  • Identify the steps involved in the required assessment for a correction of an error
  • Differentiate between the iron curtain and rollover methods for quantifying a correction of an error
  • Recognize the different types of restatements required as a result of accounting changes

Chapter 8 – Non-GAAP Financial Measures

  • Differentiate between a GAAP financial measure and a non-GAAP financial measure
  • Recognize examples of different types of non-GAAP financial measures
  • Identify which SEC guidance is applicable to different types of non-GAAP financial measures
  • Recognize disclosures within the scope of Regulation G
  • Identify key requirements included within both Regulation G and Regulation S-K related to these measure