FMN - October Session: Virtual Meeting

When:  Oct 10, 2020 from 9:00 AM to 1:00 PM (PT)
Here are the October 2020 topics:
COVID-19: Are Your Financial Statements Infected? - Part I
Field of Study: Accounting
In the era of a global crisis due to COVID-19, many economists expect 2020 to be the year when we will experience the worst recession since the Great Depression. Many industries, such as oil and gas, retail and manufacturing, hospitality, portions of the transportation sector, tourism, manufacturing, aerospace and many others have reported goodwill impairment in the first two quarters of 2020 and more impairments are likely to spike before the end of the year. The negative economic impact of the virus is certainly considered a triggering event and justifies an impairment test on long-lived assets or asset groups for most industries. Todd Rahn, senior managing director and lead of accounting advisory practice on the west coast and Chris Brown, senior managing director, from FTI Consulting, discuss industries that are at the greatest risk for impairment.

COVID-19: Are Your Financial Statements Infected? - Part II
Field of Study: Accounting
COVID-19 imposed certain pressures on C-suite executives and has created an environment that is ripe for fraudulent activity. Pressure is one of the three legs in the fraud triangle model that can lead someone to commit fraud, along with perceived opportunity and rationalization. It's easy to talk in general terms about pressure, opportunity and rationalization, but how does each one surface in day-to-day operations, especially during the pandemic? Todd Rahn, senior managing director and lead of accounting advisory practice on the west coast and Chris Brown, senior managing director, from FTI Consulting, continue our segment discussing related pressures, incentives and opportunities to commit financial reporting fraud that should be considered in an entity's risk assessment from a corporate perspective.

Social Credit - Choose Your Friends Wisely
Field of Study: Finance
Can your friends determine your creditworthiness? Well, they sure can. The social credit system was initiated in China in 2014 and is due to be fully operational nationwide in 2020, yet the idea goes back to 2007. The program has already been piloted and, according to a government document, the social credit system is trying to reinforce the idea that "keeping trust is glorious and breaking trust is disgraceful." Can we associate Social Credit with the power of influence? Maybe so! Our behavior can be viewed as an "entry" that is given a social credit score, which ultimately acts as a reward or punishment system providing us with a high or low score. Yafit Lev-Aretz, assistant professor of law at the Zicklin School of Business, Baruch College, City University of New York, defines social credit and discusses its features and implications in today's world.

"You Have Been Elected as a Board Member" - Now What?
Field of Study: Business Law
There is something to be said about the State of Delaware, a small state that derives more than 25% of its general fund revenue from the incorporation of businesses. It is a leading domicile for U.S. and international business entities. The majority of Fortune 500 companies have chosen to incorporate in Delaware and a significant percentage of initial public offerings (IPOs) are done by companies incorporated in Delaware. But what makes Delaware so appealing? John Gorman, partner at Luse Gorman, focuses on Delaware law and Courts and expands on board member fiduciary responsibilities.

Virtual from your home
You will login to your Kaplan account to access the virtual classroom at: 

Virtual Classroom Information Document
Institute of Management Accountants (IMA)
Kaplan FMN Continuing Education

Please review before attending.

Cost: $40 Pay through PayPal


Contact: Tricia Scalzo


Tricia Scalzo