Specialized Industry GAAP

Course Level: Basic

Course Description:

This course discusses all of the important authoritative pronouncements on GAAP for specialized industries. This course addresses accounting principles, financial reporting presentation requirements, required and recommended disclosures for such industries as, banking, broadcasting, cable television, computer software, franchising, insurance, motion picture, record and music, government contracts, oil- and gas-producing, real estate, not-for-profit, finance, and mortgage banking industries. Each citation in this course will have its ASC topic number and description, ASC citation (XXX-YY-ZZ-PP), and traditional GAAP hierarchical format shown in parentheses; for example, ASC 718, Compensation -- Stock Compensation (ASC 718-10-15-3) (FAS-123(R)).

Learning Objectives:
-Explain how to account for the acquisition of a bank and thrift institution.
-Discuss how to account for financial assistance granted by a regulatory agency to an entity that has acquired a bank or thrift institution.
-Determine goodwill and value other assets acquired as a result of business combination
-Account for troubled financial institutions



Topics Covered:

Chapter 1: Banking and Thrift Industry
Chapter 2: Broadcasting Industry
Chapter 3: Cable Television
Chapter 4: Colleges and Universities
Chapter 5: Development of Computer Software to be Sold, Leased or Otherwise Marketed
Chapter 6: Accounting for the Costs of Computer Software Developed or Obtained for Internal Use
Chapter 7: Franchises
Chapter 8: Finance Industry
Chapter 9: Government Contracts
Chapter 10: Health Care Industry
Chapter 11: Insurance Industry
Chapter 12: Investment Industry
Chapter 13: Mortgage Banking Industry
Chapter 14: Motion Picture Industry
Chapter 15: Not-for-Profit Organizations
Chapter 16: Oil-and Gas-Producing Activities
Chapter 17: Record and Music Industry
Chapter 18: Real Estate Transactions
Chapter 19: Pension Funds
Chapter 20: Regulated Operations
Chapter 21: Securities and Commodities Broker Dealers
Chapter 22: Title Plants
Chapter 23: Voluntary Health and Welfare Organizations

Regulatory Requirement: Please visit your state Board of Public Accountancy website for regulatory requirements.

Seat Time / Credit Hour: 17 hours

Course Pre-Requisite: None

Testing: The student will be required to pass the final exam with a 70% in order to receive course credit.

Course Completion: Upon successful completion of this course, the student will be able to print their certificate online.

About the Subject Matter Expert: Dr. Jae K. Shim is Professor of Business at California State University, Long Beach, California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.