Description

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 detailed review of SAS No. 145, 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 142–149 over the next few years, including a detailed review of the new audit requirements under SAS 142. The course will also cover the key changes related to SSARS No. 25. Finally, the course reviews the AICPA’s quality management project. 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.

Target Audience

Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities

Course Objectives

• Review and apply recently issued and proposed FASB and AICPA pronouncements
• Review and apply guidance within ASC 842, Leases
• Understand SAS 142 and SAS 145 
• Recall and apply AICPA quality management standards
• 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

Subjects

• Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB’s Technical Agenda
• Leases – Topic 842
• ASC 326: CECL
• Review of SAS 142 – Focus on Audit Evidence
• Recently issued SASs and other AICPA activity
• SSARS No. 25 and other recently issued SSARS
• Detailed review of SAS 145
• Other important A&A practice matters

Prerequisites

Experience in accounting and attestation