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 Topic 606 implementation, this course will bring you up-to-date on recently issued FASB and AICPA standards. The course also provides many hands-on examples and illustrations to help you apply the guidance in practice.
In the course, you will review all issued FASB ASUs which will become effective over the next few years, including a deeper dive into Topic 842, Leases and Topic 326, Impairment. The course will also discuss best practices from the adoption of Topic 606 and ways to both sustain and improve the reporting of revenue going forward. The course will also address common financial reporting issues resulting from the COVID-19 pandemic, including asset impairment, debt and lease restructuring and covenant issues, going concern considerations and Paycheck Protection Program accounting issues.
Next, we will discuss new and proposed AICPA standards related to auditor’s reporting and other topics, proposed changes to the SSARS, and an update on peer review and other audit quality issues. Lastly, we’ll cover other topics of interest to accountants in both industry and public accounting.