Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard setting activities of the FASB and AICPA. In addition to providing a status update on implementation of Topic 842, Leases, this course will bring you up to date on FASB and AICPA standards issued over the past few years. The course also provides many hands-on examples and illustrations to help you apply the guidance in practice.
In addition to a financial accounting update, the course will discuss what you will need to do differently as you adopt new audit standards 134-140 for your 2021 audits, including a detailed review of the new audit requirements related to audits of employee benefit plans which are found in SAS 136. The course will also cover the key changes accountants will need to implement as they adopt SSARS No. 25 on their upcoming review, compilation, and preparation engagements as well as focus on key aspects of audit quality, such as frequent peer review findings and what you can do to avoid them. Lastly, the course will provide the latest on the accounting implications of any COVID-19 stimulus or tax law changes.
In summary, the course is your go-to source for all things A&A and will prepare you for your upcoming engagements throughout the rest of the year.
- Private company standard setting activities
- Recently issued FASB Accounting Standards Updates
- Leases -- Topic 842
- Impairment -- Topic 326
- Lessons learned from the adoption of Topic 606
- Other items on the FASB’s Technical Agenda
- Recently issued SASs and other AICPA and PCAOB activity
- SSARS No. 21, Clarification and Recodification and other recently issued and proposed SSARS
- Peer review and other audit quality issues
- Other important A&A practice matters
- Keep abreast of current private company advocacy activities of the PCC
- Review and apply recently issued and proposed FASB and AICPA pronouncements
- Understand SSARS No. 21 and related guidance relating to the preparation of financial statements and new guidance on compilations and reviews
- Recall common audit quality issues and concerns
- Be familiar with other important A&A practice matters you should be aware of
- Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
Accounting and auditing practitioners at all levels desiring to remain up-to-date on recent pronouncements and other standard setters’ activities
Experience in accounting and attestation