Right as the AICPA is slowing its standard setting after the implementation of the Quality Management Standards, the FASB seems to be ramping up, with 12 new ASUs issued in 2025 alone. Luckily, not all of them apply to all clients. We focus on those standards that are most relevant to your small- and medium-sized clients. This course is specifically tailored for practitioners who perform audit, assurance, and nonattest services for smaller nonpublic businesses and is a comprehensive update covering recently issued accounting, auditing, and SSARS standards, including a focus on year two of the quality management standards that are now fully implemented and have monitoring underway, as well as other professional guidance and trends impacting small- and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the new guidance.
Following the release of the FASB’s final PIR report for ASC 842, Leases, in November 2025, we walk through a refresher of the complex lease standard and explain the detailed findings of the PIR report. The report highlighted significant initial costs and difficulties for small business lessees and outlined the FASB’s next steps for ASC 842. Finally, we provide a brief introduction to artificial intelligence (AI) in accounting and what you need to know today to be able to accurately inform your small-business clients. You don’t need to be an expert just yet, but you do need to be able to speak about what you are doing and know how to respond to what they are doing with AI. This course will get you up to speed on the standards, rules, and trends that are most important to your small- and medium-sized clients.
Practitioners at all levels who provide nonaudit and nonattest services to small- and medium-sized businesses, desiring to remain up to date on recent pronouncements and other standard-setter activities and professional guidance
Experience in accounting and auditing