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Accounting

Surgent’s More Than Meets the Eye: Examining the New Lease Accounting Standard (NLS4) (SSAA99/19)

By |2019-06-19T01:18:15-04:00June 30th, 2019|

Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease re-measurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance.

Surgent’s Master Accounting for Income Taxes (AIT4) (SSAA49/19)

By |2019-06-19T01:18:23-04:00June 30th, 2019|

Since its inception nearly 25 years ago, many have continued to struggle with applying the current model for accounting for income taxes. But this doesn't have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions and other classification and disclosure requirements. We'll also explore the changes on the horizon to accounting for income taxes. Lastly, the course will cover the financial accounting implications of the Tax Cuts and Jobs Act (TCJA), which will continue to impact financial reporting throughout 2018. This will include a review on the general guidance in ASC Topic 740 for accounting for changes in tax laws and rates, as well as a deeper dive into the accounting implications of specific changes found in the TCJA and recently issued implementation guidance from both the FASB and SEC.

Surgent’s Challenges in Implementing Topic 606 for Entities with Long-Term Construction Projects (LTC4) (SSAA98/19)

By |2019-06-19T01:18:26-04:00June 30th, 2019|

Change is definitely coming. For those entities who currently recognize revenue under the guidance of Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts (SOP 81-1), understanding the basics of Topic 606 is not enough. In order to assess the impact of adopting Topic 606, you need a detailed understanding of whether you can recognize revenue over time under Topic 606 or not. Plus, applying the other steps of Topic 606's five-step revenue recognition model could also result in entities making changes to their current revenue recognition approaches. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 81-1, highlighting any areas of potential change in your current approach when you adopt Topic 606, such as identifying performance obligations and when and how you recognize revenue. Applying Topic 606 to your long-term contracts will definitely change your revenue recognition approach. This course will help you determine how big that change will be.

Surgent’s Successfully Navigating the Impacts of SSARS No. 21-23 (SSAR) (SSAA111/19)

By |2019-06-19T01:18:37-04:00June 30th, 2019|

Statements of Standards for Accounting and Review Services (SSARS) recently underwent a complete revision through the issuance of SSARS No. 21, Statements of Standards for Accounting and Review Services: Clarification and Recodification. The most monumental change is the creation of a brand new non-attest service entitled "Preparation of Financial Statements." This course will focus on clear and practical guidelines for successfully navigating the changed professional requirements of SSARS No. 21, and subsequent SSARS No. 22 - 24, compared to current practice.

Surgent’s AICPA Update (AICU) (SSAA48/19)

By |2019-06-19T01:18:44-04:00June 30th, 2019|

Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides an overview of the AICPA's new special purpose framework, Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEsT); a Compilation and Review Update, including a discussion of the recently issued SSARS No. 22 and 23; as well as recent activities of the Auditing Standards Board (ASB) and other AICPA Boards and affiliated organizations. You will learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and auditors in public accounting and private industry.

Surgent’s Race Toward Implementation: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard (NRRS) (SSAA102/19)

By |2019-06-19T01:18:46-04:00June 30th, 2019|

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other "material right" options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.

Surgent’s Accounting, Audit, and Attest Update for Practitioners with Small-Business Clients (SMBP) (SSAA107/19)

By |2019-06-19T01:21:17-04:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Current Issues in Accounting and Auditing: An Annual Update (AAU4) (SSAA39/19)

By |2019-06-19T01:21:22-04:00June 30th, 2019|

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent accounting, compilation, preparation, review, and attestation matters including: recently issued Accounting Standards Updates (ASUs); the FASB's comprehensive new Revenue Recognition standard - Topic 606; Lease Accounting - Topic 842; Financial Instruments; SSARS No. 21, Clarification and Recodification and other new standards issued by the ARSC; recent AICPA and PCAOB releases; and other important A&A practice matters you should be aware of.

Surgent’s FASB’s “Big 3” – Revenue Recognition, Leases, and Financial Instruments (FSBT) (SSAA80/19)

By |2019-06-19T01:19:50-04:00June 30th, 2019|

Sometimes we can avoid addressing the elephant in the room for a while. However, when there are three elephants in the room, it's time to address the issues. Designed for practitioners and their staff, whether in public accounting or business and industry, this course provides a comprehensive review and update of the FASB's Big 3 accounting and reporting areas -- Revenue Recognition, Leases, and Financial Instruments. We will focus on recently issued Accounting Standards Updates, covering these critical areas of your practice or organization. We will analyze the Big 3, which have a major effect on all industries, using examples and illustrations to provide a hands-on approach that will help you better assess and implement the new standards and guidance applicable to your clients or organization.

Surgent’s Challenges in Implementing Topic 606 for Entities in the Technology Sector (TEC4) (SSAA115/19)

By |2019-06-19T01:19:53-04:00June 30th, 2019|

Change is definitely coming. For those entities currently following industry-specific accounting guidance for revenue recognition, Topic 606 will be replacing this with a single model. For those in the technology sector that utilize Statement of Position 97-2, Software Revenue Recognition (SOP 97-2), adopting Topic 606 will most likely result in significant changes to when you recognize revenue, particularly with regard to contracts with multiple performance obligations. With the requirement to have vendor-specific objective evidence (VSOE) to support the allocation of transaction price going away under Topic 606, technology companies will also see major change in how they allocate transaction price, which will impact when they record revenue on these transactions. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 97-2. We'll highlight the changes that Topic 606 makes to the guidance found in the SOP and focus on the impact that software entities should expect when implementing this new guidance. Implementing Topic 606 will be a challenge for software entities, and this course will help you identity and resolve these issues so that you can complete your adoption strategy.

Surgent’s Small-Business Accounting, Audit, and Attest Update (SMP4) (SSAA108/19)

By |2019-06-19T01:21:26-04:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Annual Accounting and Auditing Update (ACAU) (SSAA44/19)

By |2019-06-19T01:21:31-04:00June 30th, 2019|

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 PCC, FASB, ASB, and ARSC. Not only will this course bring you up-to-date on the requirements, it also provides you with many hands-on examples and illustrations to help you apply the guidance in practice. You'll learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and attestation practitioners in public accounting and private industry. This course also includes a discussion of common audit quality issues noted in peer reviews; updates practitioners on the latest developments impacting compilation, preparation, and review engagements; and discusses other matters of interest to all accountants.

Surgent’s A&A Hot Topics: Getting a Grasp on the Big Issues Facing the Industry (AAYR) (SSAA42/19)

By |2019-06-19T01:21:37-04:00June 30th, 2019|

With so much going on in the Accounting, Compilations and Review, and Auditing arena lately, it's easy to have missed some of the more important issues and challenges facing the profession today and into the near future. This course, designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, will provide you with a year in review look at some of the more important issues and challenges facing CPAs. We will identify and discuss specific areas within the profession that are likely to affect you and your clients, thereby keeping you "in the know" on these critical topics. Examples and illustrations provide hands-on application to further enhance your understanding of the matters presented.

Surgent’s Preparing Special Purpose Framework Financial Statements: Cash, Modified Cash, and Tax Basis (CMT4) (SSAA58/19)

By |2019-06-19T01:20:08-04:00June 30th, 2019|

For many businesses, preparing financial statements using a special purpose framework may provide an alternative to the complexity of U.S. GAAP. This course will provide you with an overview and hands-on application for preparing financial statements using a special purpose framework. You will learn the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example financial statements and illustrative disclosures. The course also includes common practice issues encountered when preparing SPF financial statements, as well as an introduction to the AICPA's new SPF for small and medium-sized entities, FRF for SMEsTM. We will also review recent updates to the standards for accounting and review services that impact engagements performed on SPF financial statements.

Surgent’s Annual Accounting and Auditing Update (ACAU) (SSAA43/19)

By |2019-06-19T01:21:39-04:00June 30th, 2019|

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 PCC, FASB, ASB, and ARSC. Not only will this course bring you up-to-date on the requirements, it also provides you with many hands-on examples and illustrations to help you apply the guidance in practice. You'll learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and attestation practitioners in public accounting and private industry. This course also includes a discussion of common audit quality issues noted in peer reviews; updates practitioners on the latest developments impacting compilation, preparation, and review engagements; and discusses other matters of interest to all accountants.

Surgent’s Challenges in Implementing Topic 606 for Entities in the Technology Sector (TEC4) (SSAA114/19)

By |2019-06-19T01:20:10-04:00June 30th, 2019|

Change is definitely coming. For those entities currently following industry-specific accounting guidance for revenue recognition, Topic 606 will be replacing this with a single model. For those in the technology sector that utilize Statement of Position 97-2, Software Revenue Recognition (SOP 97-2), adopting Topic 606 will most likely result in significant changes to when you recognize revenue, particularly with regard to contracts with multiple performance obligations. With the requirement to have vendor-specific objective evidence (VSOE) to support the allocation of transaction price going away under Topic 606, technology companies will also see major change in how they allocate transaction price, which will impact when they record revenue on these transactions. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 97-2. We'll highlight the changes that Topic 606 makes to the guidance found in the SOP and focus on the impact that software entities should expect when implementing this new guidance. Implementing Topic 606 will be a challenge for software entities, and this course will help you identity and resolve these issues so that you can complete your adoption strategy.

Surgent’s Five Critical Issues That A&A Public Accountants Will Need to Face This Year (CIA4) (SSAA56/19)

By |2019-06-19T01:21:40-04:00June 30th, 2019|

Understanding the forces affecting your A&A public practice is critical to success in today's complex and rapidly changing market. In this session we will tackle pressing issues at a "need to know" level and then discuss the practical implications. You will come away armed with the "big picture." Preparedness is half the battle, so do not miss this critical briefing.

Surgent’s Master Accounting for Income Taxes (AIT4) (SSAA50/19)

By |2019-06-19T01:20:28-04:00June 30th, 2019|

Since its inception nearly 25 years ago, many have continued to struggle with applying the current model for accounting for income taxes. But this doesn't have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions and other classification and disclosure requirements. We'll also explore the changes on the horizon to accounting for income taxes. Lastly, the course will cover the financial accounting implications of the Tax Cuts and Jobs Act (TCJA), which will continue to impact financial reporting throughout 2018. This will include a review on the general guidance in ASC Topic 740 for accounting for changes in tax laws and rates, as well as a deeper dive into the accounting implications of specific changes found in the TCJA and recently issued implementation guidance from both the FASB and SEC.

Surgent’s Challenges in Implementing Topic 606 for Entities with Long-Term Construction Projects (LTC4) (SSAA97/19)

By |2019-06-19T01:18:49-04:00June 30th, 2019|

Change is definitely coming. For those entities who currently recognize revenue under the guidance of Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts (SOP 81-1), understanding the basics of Topic 606 is not enough. In order to assess the impact of adopting Topic 606, you need a detailed understanding of whether you can recognize revenue over time under Topic 606 or not. Plus, applying the other steps of Topic 606's five-step revenue recognition model could also result in entities making changes to their current revenue recognition approaches. With Topic 606's effective date right around the corner, now is the time to get the answers to your implementation questions. In this course, we'll explore Topic 606 from the perspective of entities that currently recognize revenue under SOP 81-1, highlighting any areas of potential change in your current approach when you adopt Topic 606, such as identifying performance obligations and when and how you recognize revenue. Applying Topic 606 to your long-term contracts will definitely change your revenue recognition approach. This course will help you determine how big that change will be.