Webinar: Navigating Extraordinary Events That Impact Accounting and Tax

Webinar: Navigating Extraordinary Events That Impact Accounting and Tax

David Sekula
CEO & Executive Director
Jim Swanick
Managing Director
Michael Tighe
Managing Director
Webinar Date:

As the COVID-19 pandemic continues to present significant challenges to business operations and the global economy, new uncertainties relating to forecasted earnings are forcing accounting departments to assess the impact on their company’s value. Businesses assessing the pandemic as a potential ASC 350 triggering event are often required to perform additional impairment testing of their goodwill and other intangibles.

Join Global Tax Management and Centri Business Consulting as we explore how to manage the accounting and tax implications of the additional impairment testing requirements. In addition, we will give an update on ASC 842, Leases, and discuss opportunities and possible compliance challenges regarding both leases and impairment including:

  •  Lease Accounting
    • Accounting for lease modifications, rent concessions and other lessee matters pursuant to ASC 842
    • Tax compliance pitfalls in light of ASC 842
  • Impairment
    • Evaluating the recoverability of goodwill, intangible assets and property, plant, and equipment due to triggering events
    • Tax accounting considerations related to:
      • Goodwill impairment
      • Assessing the need for a valuation allowance including
        • Evaluating positive and negative evidence
        • Scheduling exercises

GTM Presenters:
Dave Sekula, Managing Director
Jim Swanick, Managing Director
Mike Tighe, Associate Director

Centri Presenters:
Jaime Krug, Partner
Christopher Mora, Partner

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