Lambers CPA Review Complete FAR Course

Instructors
Arthur Reed
Bill Grubbs
Category:
Financial Education/
$499.95

$499.95

40 Hours
17 Video Chapters
1,605 Questions

COURSE DESCRIPTION

The Lambers CPA Review Course for Financial Accounting and Reporting gives you all the information needed to pass the Financial Accounting and Reporting section of the CPA Exam.  This course consists of detailed lectures by Professor Arthur Reed and William Grubbs,  hundreds of practice questions worked on-screen, supporting text and simulation problems.  Also included is the Lambers Test Prep Software which features over 1600 practice questions, sample exams, supporting text and adaptive technology.  The adaptive feature allows you to learn and practice questions in a more challenging manner which increases performance on the Financial Accounting and Reporting portion of the exam.

The Lambers method of instruction is described as text, examples and illustrations.  We will teach you the concepts you need to know for the exam and reinforce them by working exam questions.  Lambers courses are updated on a regular basis in order to reflect current exam trends.  The Lambers online video lectures are divided into smaller, manageable sections in order to facilitate the learning process.  Course includes all lectures, text and Test Prep Software for the Financial Accounting and Reporting section.

CPA VIDEO SAMPLE

Advantages of the Lambers Financial Accounting and Reporting CPA Review Course Include:

Learn where the examiners test most heavily

Disclose recent trends on the exam

Reinforce lessons by working exam questions with explanations

Steer you clear of the irrelevant topics with little or no points

Show you test taking tips and techniques to get those extra points

Course Outline

  • Partnerships

    • Partnerships Overview
    • Income Distribution
    • Formation of Partnerships
    • Partnership Liquidation
    • Admission of a New Partner
    • Recording Goodwill
    • Payments Outside of the Partnership
    • Bonus Method
    • Bankruptcy
    • Bonus Distribution

  • Stockholders Equity and Marketable Securities

    • Issuing Stock
    • Allocation of Lump Sum
    • Stock Subscriptions
    • Donated Assets
    • Retiring Stock
    • Treasury Stock, Par Method
    • Treasury Stock, Cost Method
    • Donated Treasury Stock
    • Cash Dividends
    • Stock Dividends
    • Property Dividends
    • Liquidating Dividends
    • Stock Splits
    • Shares Outstanding
    • Retained Earnings
    • Stock Rights
    • Book Value Per Share
    • Quasi Reorganization

  • Inventories

    • Costing of Inventory
    • Inventory Valuation Methods
    • Dollar Value Method
    • Retail Inventory Method
    • Lower of Cost or Market Methods

  • Consolidated Financial Statements

    • Cost Vs. Equity Methods
    • Goodwill
    • The Acquisition Method
    • Consolidation Procedures
    • FASB Issues regarding Business Combinations and Intangible Assets
    • ASC 350 - Goodwill and other Tangible Assets
    • ASC 810 - Consolidation of Variable Interest
    • 2016 Update Contingent Considerations

  • Earnings Per Share - Segment Reporting

    • Preferred Stock
    • Diluted Earnings Per Share
    • Stock Options, Stock Warrants and Treasury Stock Method
    • Diluted Earnings Per Share
    • Disclosure
    • Diluted Earnings Per Share

  • Price Level-Foreign Exchange

    • Financial Reporting and Changing Prices
    • Inventory
    • Monetary Items Vs. Non Monetary Items
    • Accounting for Foreign Currency
    • Foreign Currency Transactions
    • Monetary Items Vs. Non Monetary Items

  • Accounting Theory

    • FASB Conceptual Framework
    • Qualitative Characteristics of Accounting Information
    • Reorganization and Measurement in Financial Statements of Business Enterprises
    • ASC 820 - Fair Value
    • The Accounting Environment
    • FASB/ASC
    • Simulation Examples
    • Derivatives
    • ASC 815 - Accounting for Derivatives Instruments and Hedging Activities
    • IFRS
    • 2016 Update Private Company Council

  • Statements of Cash flows and Financial Statement Analysis

    • Purpose of Statement
    • Requirements of Statement
    • Focus on Cash and Cash Equivalents
    • Cash Flow From Operating Activity

  • Bonds, Accounting for Debt

    • Bond Issue Cost
    • Calculation of Bond Interest Expense
    • Retirement of Bonds
    • Convertible Bonds
    • Bonds Issued With Stock Warrants
    • Bond Terms
    • Disclosure of Bonds
    • Classification of Bonds
    • Bond Sinking Fund
    • Investment in Bonds
    • Contingencies
    • Escrow Account Liability and Credit Risk
    • Unconditional Purchase Obligations, Miscellaneous Tax Liability and Warranties
    • Coupons and Gift Certificates
    • Derivatives
    • Wrap up and Review

  • Revenue and Expense Recognition, Miscellaneous Items

    • Introduction
    • Contract Accounting - Cash Vs. Accrual
    • Contract Accounting - Construction
    • Balance Sheet Presentation
    • Installment Sales
    • Bank Reconciliation
    • Franchising (FASB 45)
    • Stock Options
    • Stock Options - Reviewing Specific Examples
    • Stock Options - Additional Considerations
    • Stock Appreciation Rights
    • Restricted Stock Plans

  • Other Assets

    • Accounts Receivables
    • Pledging, Assigning and Factoring Receivables
    • Deprecation Methods
    • Non Monetary Transactions
    • Research and Development
    • Accounting For The Disposal of Long Lived Assets
    • Unusual Notes
    • Compensated Absences
    • Payroll Taxes
    • Cash Surrender Value of Life Insurance
    • Related Party Transactions
    • Classification of Assets
    • Asset Retirement Obligation

  • Reporting the Results of Operations

    • Income Statements
    • Accounting Changes
    • Change in Accounting Estimate
    • Change in Accounting Entity
    • Discontinued Operations
    • Extraordinary Items
    • Prior Period Adjustments
    • Disclosure of Accounting Policies
    • ASC 225 Reporting Comprehensive Income
    • Interim Financial Reporting
    • Troubled Debt Restructuring
    • Development Stage Enterprise
    • IFRS
    • Discontinued Operations

  • Accounting for Income Taxes

    • Inter Period Tax Allocation
    • Current Tax Liability or Current Portion of Tax Expense
    • Combination of Permanent and Temporary Differences
    • Deferred Tax Assets
    • Classification of Deferred Tax Accounts
    • Deferred Tax Theory
    • Loss Carry Back and Carry Forward
    • Investee Undistributed Earnings

  • Accounting for Leases, Pension and Postretirement Plans

    • Leases
    • Pensions - Defined Contribution Vs. Defined Benefit
    • Pensions - Prior Service Costs
    • Pensions - Cumulative Costs
    • Pensions - Review

  • Governmental Accounting

    • Overview of Financial Statements
    • Governmental Funds
    • Proprietary Funds
    • Fund Balances
    • Fund Based Financial Statements and Fund Balances
    • Government-Wide Financial Statements
    • Accounting for Leases, Pension and Postretirement Plans - Pensions - Prior Service Costs
    • Comprehensive Illustration
    • Accounting and Financial Reporting for Non Exchange Transactions
    • Capitalized Leases
    • Solid Waste Landfills

  • Not-for-Profit Accounting

    • Statement of Net Assets, Statement of Revenues and Statement of Cash Flow
    • Voluntary Health and Welfare Organizations and Other Non Profit Organizations
    • FASB 116 - Private Not For Profit Organization
    • FASB 117 - Statement of Financial Accounting
    • Health Care Organizations

About Instructors

Arthur Reed
Professor Arthur Reed, CPA, MBA, MST has been teaching with Lambers, Inc. since 1990.Teaching interests include taxation and financial accounting. In addition to his Lambers teaching Professor Reed is a full time instructor at Bentley University, one of the top business schools in the country. Professor Reed started his accounting career as an audit senior for Arthur Andersen, Boston office. Teaching Interests include Taxation, including IRS Practice and Procedure, Tax Research and Multijurisdictional areas. Research Interests are Taxation, ­ Taxation & Information Technology Consulting. Practice Interests are Taxation of multijurisdictional individuals including athletes, musicians and the arts. Professor Reed is featured on the Lambers Enrolled Agent Review Course and teaches numerous Continuing Education Courses for Lambers.
Bill Grubbs
Professor William Grubbs, MBA, CPA is the Chairman of the Accounting Department at Guilford College in Greensboro, NC. Professor Grubbs is holds the title of the Sulon Bibb Stedman Professor of Accountancy. His education includes an undergraduate degree from East Carolina University and an MBA from the University of North Carolina. Professor Grubbs professional experience is with Arthur Andersen, Price Waterhouse and Touche & Ross accounting firms. Professor Grubbs is the primary author of the Lambers Financial Accounting and Reporting Textbook. He has the ability to break down extremely complex accounting topics so that they are easily understood. He operated a very successful live instruction Lambers CPA Review Course for over 30 years with multiple award winners for CPA Exam performance. He is also a member of the North Carolina Board of Examiners.

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