1-Hour Program

See Credit Details Below


CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

While this program offers CPE (NASBA) credit, it has expired for CLE credit in many states. Please check the credit calculator below. No CLE certificate will be issued if credit has expired in your state.

Upon the successful completion of this program, the participant will be able to:

  • Recognize the overall objective and structure of MD&A and apply this foundation to select current MD&A developments.
  • Recall evolving disclosure areas, new SEC guidance, and current hot topics worthy of consideration when drafting MD&A.
  • Describe the more challenging aspects of the existing requirements for discussion of causal factors, forward-looking information in MD&A, and related MD&A preparation processes.

Course Overview:

This program will focus on:

  • A brief review of the overall goal of MD&A.
  • The pros and cons of the SEC’s new “leave out the third-year back” rule.
  • When to address new issues such as Brexit and Reference Rate Reform.
  • The ongoing evolution of cybersecurity disclosures:
  • When do they become relevant for MD&A?
  • What should be disclosed?
  • Pointers on drafting the overview.
  • Quantification of changes in operations:
    • Example SEC comments.
    • How much is appropriate?
  • Operating segments, deeper analyses, trends, and frequent SEC comments on MD&A.
  • Recent enforcement cases:
    • Focus on known trends.
  • Latest issues in using non-GAAP measures in MD&A.
  • Five ways to improve MD&A.
  • Example drafting and review processes.
  • Why hasn’t the SEC issued any new MD&A guidance in recent years? 

Program Level:  Update

Intended Audience:  Accountants, CPAs, attorneys, and other allied financial professionals who deal with reporting, disclosure, and accounting issues, including chief financial officers, controllers and their staff, internal auditors, partners of public accounting firms and their staff, in-house counsel, and outside attorneys.

Prerequisites:  A basic knowledge of MD&A and a general understanding of relevant SEC guidance.

Advanced Preparation:  None

Instructional Method:  QAS Self-Study

Updated:  January 2021

Credit Information:  1 CPE credit is available upon completion of this program’s 3 content-review questions and a minimum passing score of 70% on the 5-question final exam.

Credit Details

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