Master the intricacies of ASC 205 with this Liquidation Basis of Accounting CPE course (1.5 CPE). This course equips accountants and auditors with the knowledge to navigate the end-of-life reporting requirements for entities under U.S. GAAP. ASC 205 addresses two key areas: the liquidation basis of accounting and the assessment of an entity's ability to continue as a going concern. While both focus on the financial health and lifespan of an entity, they involve distinct and separate analyses. This course provides a deep dive into the liquidation basis of accounting as outlined in ASC 205-30. Learn when this accounting method is applicable, how to apply it, and the financial statement presentation and disclosure requirements involved. The course places special emphasis on challenges faced by funds in the investment management industry, a sector often characterized by entities with a defined lifespan. In addition, this course covers going concern assessments and related disclosure requirements under ASC 205-40 for situations where the liquidation basis of accounting is not applicable. Key considerations and areas of judgment are brought to life through practical examples.