Due to COVID-19 this will be a Virtual Meeting
Continuing Professional Education: 4.0 Hour CPE
One of the most valuable products offered by the Institute of Management Accountants. The FMN (Financial Management Network) is a live DVD training program introducing and explaining up-to-the-minute accounting and finance issues. By viewing the DVD and participating in the group discussion you will earn four hours of CPE credit.
Overall, the program allows you to keep current with the changes and impacts in many facets of the Accounting and Finance industry.
These CPE Sessions are conducted under the IMA's Global Core Values and IMA's Statement of Ethical Professional Practice. Adherence to these statements are required to participate in this event.
July 2021 topics:
Employee Stock Purchase Plans – Why Offer One?
Field of Study: Accounting
Employee stock purchase plans, often known as ESPPs, are programs that enable employees to purchase company stock via elective payroll deductions. Typically, those deductions will accrue over a set period of time, often six months. At the end of that period, the accumulated money is then used to buy stock and a new six-month period starts. ESPPs are a great incentive for employees, but how are they different from any other kind of equity compensation like options or restricted stock? David Outlaw, director of Valuation and HR Advisory Services at Equity Methods, provides us with details on the different types of ESPPs, reasons companies offer them, common structures and tax qualifications.
Will the PCAOB Tighten the Leash?
Field of Study: Accounting
In July 2002, Congress established the Public Company Accounting Oversight Board, known as PCAOB, to oversee audits of public companies and SEC-registered brokers and dealers, in an effort to protect investors and the public interest. Over the years, there have been several cases of significant financial reporting fraud, significant internal control deficiencies, and other audit failures, resulting in the loss of investor confidence, yet the number of defective audits that resulted in enforcement actions by the PCAOB has been very small. Is the profession failing? Is accountability lost? Dan Goelzer, one of the founding members of the PCAOB, gives some insights on these questions.
The SEC Is Watching & the New “E” on EESG – Part I
Field of Study: Business Law
In April 2018, the board of directors of Andeavor LLC and Marathon Petroleum Corporation approved the merger between the two companies according to what was thought to be in the best interest of their respective equity holders. Andeavor was acquired by Marathon in October 2018 for over $23 billion, making it the largest acquisition in San Antonio’s history. The acquisition was completed in July 2019; however, Andeavor was on the Securities and Exchange Commission’s radar. Charles Hecht, from Charles Hecht, P.C., discusses the case in further detail. Was this a case about weak internal accounting controls or insider trading? And what is the new “E” on EESG and the related required disclosures from the SEC?
The SEC Is Watching & the New “E” on EESG – Part II
Field of Study: Business Law
Charles Hecht, from Charles Hecht P.C., continues our segment. He gives his insights as to how the SEC reacts to misleading disclosures caused by the pandemic and discusses the case brought by the SEC against The Cheesecake Factory. Companies can get very creative when the SEC is on their tail and it seems they often blame it on internal controls. But the true causes of misinformation always come out, one way or another. And if the SEC sees that the public is misinformed on what the true impact of COVID-19 was on a business, it is not afraid to act on that. Good or bad, the public will know. Charlie also discusses what COVID-19 taught businesses. Are you going to be ready if another pandemic hits?
Time: 9:00 am to 1:00 pm
Virtual from your home:
You need to receive a login from Kaplan (our video vendor) by email to access the virtual classroom.
Note: You will be asked to validate that you are online automatically throughout the sessions to make sure you are NSBA compliant.
Cost: $40.00 (Payment thru PayPal: www.paypal.me/IMA112)
Registration: Tricia Scalzo