Seminar  Program

15th Annual SEC Reporting & FASB Forum for Mid-sized & Smaller Companies


Why You Should Attend

Mid-sized and smaller reporting companies need to keep pace with a changing regulatory landscape as well as new and emerging issues. Although most have adopted the new revenue and leasing standards, reporting continues to be a challenge for mid-sized and smaller companies.  Attendees will learn about the standard-setting agenda of the FASB as well as updates on rulemaking, interpretive guidance, frequent comments, and enforcement actions emanating from the SEC. In addition, we have a panel on ethical challenges which qualifies for ethics credit for CPE purposes. Our expert faculty will provide practical approaches to new and complex accounting and disclosure requirements.

What You Will Learn

  • Understand the current regulatory landscape and emerging issues, including recent and anticipated developments
  • Impact of the SEC’s focus on the Main Street investor
  • Our SEC Reporting Roundtable will provide a lively discussion of current events, including the SEC’s rulemaking and enforcement agenda, reporting fatigue, and best practices in the close process
  • Important developments in CorpFin
  • An update on internal control over financial reporting, with a discussion of best practices
  • Post implementation issues from the FASB’s leases standard
  • Status of the credit losses standard implementation, including SAB 74 disclosures
  • Tuning up your MD&A – understand the current focus areas of investors and regulators and how to meet their expectations
  • Recent SEC enforcement actions, whistleblowing developments and ethical challenges
  • And, of course, detailed updates on the latest developments at the SEC and FASB

Who Should Attend

SEC reporting professionals, including those involved in the preparation or review of financial statements, partners of public accounting firms and their staff, lawyers and corporate legal staff, investor relations professionals, and audit committee members.

Program Level: Overview

Intended Audience: SEC reporting professionals, including those involved in the preparation or review of financial statements, partners of public accounting firms and their staff, lawyers and corporate legal staff, investor relations professionals, and audit committee members.

Prerequisites

We recommend first attending the SEC Reporting Skills Workshop for Financial Professionals or SEC Reporting and Practice Skills Workshop for Lawyers or prior experience with the SEC reporting process and use of the Instructions to Forms, and Regulations S-K and S-X. 

Advanced Preparation: None


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 8:00 a.m. - 4:30 p.m.

8:00 Welcome and Program Overview
Speakers: Bob Laux, George M. Wilson

8:05 FASB Hot Topics
• An Overview of the FASB’s standard setting strategy in the current environment – dealing with standard setting “overwhelm”
• Recently completed ASUs, including:
    o Collaborative Arrangements
    o Targeted Improvements to Related Party Guidance for Variable Interest Entities
    o Implementation Costs Incurred in a Cloud Computing Arrangement
    o Changes to the Disclosure Requirements for Fair Value Measurement
    o Improvements to Nonemployee Share-Based Payment Accounting
• Technical Agenda, including:
    o Identifiable Intangible Assets and Subsequent Accounting for Goodwill
    o Segment Reporting
    o Acquisition of an Assumed Liability in a Revenue Contract
    o Disclosure Improvements in Response to SEC Release on Disclosure Update and Simplification
    o Conceptual Framework


9:15 Internal Control Over Financial Reporting
• Latest trends in ICFR
• ICFR and adoption of new accounting standards
• Non-GAAP measures and the impact on ICFR
• ICFR with respect to cybersecurity
• ICFR Best Practices
• PCAOB ICFR perspectives and focus points


10:15 Networking Break

10:30 Fine Tuning Lease Accounting and Lessons Learned from SEC Reviews to Date
• Common post-implementation issues and problems
• Disclosures insights
• SEC comments to date – themes and watch areas
• Systems and controls considerations
• SEC observations and public remarks


11:45 Networking Lunch

12:45 Accounting for Income Taxes
• Disclosures related to the Tax Cuts and Jobs Act
• Accounting for GILTI and BEAT
• Uncertain Tax Positions
• Valuation Allowances
• SEC comments – themes and watch areas
• FASB Project on Changes to the Disclosure Requirements for Income Taxes


2:00 Networking Break

2:15 Tuning Up Your Management’s Discussion and Analysis
• Brief overview of requirements
• Cybersecurity disclosures
• Critical Accounting Estimates versus Critical Audit Matters
• Brexit
• Changes to LIBOR
• Common issues from the SEC in MD&A reviews


3:30 A Guide to Navigating the SEC Comment Letter Process

• Introduction to the example company
• Developing a strategy to respond to the first SEC comment letter
• Review of the company’s first response
• Review of additional comment and response letters and the ultimate resolution
• Fix in future filings or amend?
• Dos and don’ts in the comment process

 

4:30 Adjourn



Day Two: 8:00 a.m. - 4:00 p.m.

8:00 CorpFin Update and SEC Review Focus Areas
• Request for Comment on Earnings Releases and Quarterly Reports
• Waivers or financial reporting alternatives under Rule 3-13 of Regulation S-X
• Focus on the capital markets and efforts to increase the number of IPOs
• Staff focus areas, including:
    o Implementation of the leases standard
    o Revenue recognition implementation and disclosures
    o Goodwill
    o Segments
    o SAB 74 disclosures
    o Non-GAAP and metrics


9:30 Accounting for Financial Instruments, with a focus on CECL
• Credit losses
    o Status of adoption
    o Targeted transition relief
    o FASB Staff Q & A
    o Transition Resource Group issues
    o SAB 74 disclosures
• Effects of LIBOR to SOFR Transition on Financial Reporting
• Distinguishing Liabilities from Equity


10:45 Networking Break

11:00 SEC Enforcement Environment for Mid-Cap and Smaller Companies
• Enforcement priorities
• Recent financial cases and their impact
• Managing the enforcement process
• Issues and challenges in the litigation process
• Whistleblowers awards
• FCPA developments


12:15 Networking Lunch

1:15 Ethical Challenges for Mid-Cap and Smaller Companies
• Professional ethics issues in SEC practice
• SEC enforcement examples
• Examples where company employees were faced with challenging decisions
• When to “not do” what your boss says you “should do”
• Using a conflict resolution process
• When is it right to “blow the whistle”?


2:30 Networking Break

2:45 Bringing It All Together: SEC Reporting Roundtable

• A roundtable discussion of important reporting issues, including:
    o Where are companies most likely to have problems?
    o How to proactively avoid problems
    o Reporting fatigue
    o Critical Audit Matters
    o ICFR
    o Disclosure effectiveness
    o Best practices in the close process
    o Audit committee interaction

 

4:00 Adjourn




Co-Chair(s)
Bob Laux ~ Associate Director, SEC Institute, a Division of PLI
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI

Seminar & Hotel Accommodations

Park MGM, 3770 S. Las Vegas Blvd., Las Vegas, NV 89109.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s live seminars qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

California:  SEC Institute’s live seminars qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Iowa:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Kansas:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Louisiana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Maine:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Minnesota:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Mississippi:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Missouri:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Montana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nebraska:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nevada:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Hampshire:  All SEC Institute products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

New Jersey:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Mexico:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys:  SEC Institute’s transitional live seminars can be used to fulfill the requirements for newly admitted attorneys. All credit categories may be earned via transitional live seminars.

North Carolina:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

North Dakota:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Ohio:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oklahoma:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Puerto Rico:  All SEC Institute products can fulfill Puerto Rico’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Rhode Island:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

South Carolina:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Tennessee:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Vermont:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s live seminars qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  All SEC Institute products can fulfill Washington’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

West Virginia:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wisconsin:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wyoming:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s live seminars qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s live seminars qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC): SEC Institute’s live seminars can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of points an attorney can earn via live seminars.

United Kingdom (CPD-UK):  SEC Institute’s live seminars can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s live seminars qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via live seminars.

Alberta (CPD-ALBERTA):  All SEC Institute products can fulfill Alberta’s CPD requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Dubai (CLPD-DUBAI):  SEC Institute’s live seminars may fulfill CLPD credit requirements.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s live seminars qualify as the “Group-Live” delivery method. Please check the Credit Information box on the right-hand side of this page to verify CPE credit availability.

IRS Continuing Education (IRS-CE): SEC Institute’s live seminars may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s live seminars may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s live seminars may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s live seminars may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s live seminars qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s live seminars qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live seminars.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s live seminars may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s live seminars may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  SEC Institute’s live seminars may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  SEC Institute’s live seminars may fulfill CFP credit requirements.

 

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