This course will cover the ASUs issued during the year as well as those that will be effective in the near future. We’ll take a deep dive into how to prepare for the leases, revenue recognition, and financial instruments standards.
- List new accounting ASUs issued by the FASB
- Describe the key financial reporting changes of the revenue recognition, leases and financial instruments project
This course reviews accounting standards issued by the Government Accounting Standards Board (GASB) that have been recently issued as well as those that will be effective in the near future. In addition to reviewing the standards, we will also focus on implementation strategies and challenges. Finally, we will turn our attention to the future by discussing GASB’s current projects and exposure drafts.
Following this course, attendees will be able to describe the impact of newly issued and recently effective standards on governmental accounting and will be better informed of changes that may occur in the future.
This course will look at the recent activities of FASB as well as the Auditing Standards Board and Accounting and Review Services Committee of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way. We’ll discuss the Audit Quality Initiative of the AICPA and take a look at some common audit issues.
Key focus areas include:
- Recent accounting standard updates (ASUs)
- Revenue recognition
- Financial instruments
- SAS 133
- SSARS 24
- AICPA Auditor’s Report
- Enhancing audit quality initiative
Governmental accounting is very unique. In this course, we will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We’ll discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government wide financial statements. The class will also cover the concept of component units. Finally, we close with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.Find out more
This course will cover nothing older than the Tax Cuts and Jobs Act of 2017 and will include every IRS explanation of how various parts of that law are supposed to work. These updates are comprehensive reviews of significant developments in Federal tax law, primarily during the last 12 months. The content is essential knowledge for any CPA providing tax advice or assisting in preparation of Federal income tax returns. Learn how the IRS is interpreting parts of the Tax Cuts and Jobs Act. Follow how federal courts are dealing with issues subject to interpretation. Learn planning and compliance strategies from recognized experts that can benefit your clients.Find out more
This course will cover the hot topics of 2019. We’ll look at the new auditor's report issued by the AICPA. We’ll cover implementation issues with revenue recognition and leases. We’ll also look at risk assessment common deficiencies. This course will cover what the standard setters are prioritizing.
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• Define a lease under Topic 842
• Describe common risk assessment deficiencies
• List changes to the auditor’s report
• Identify the five-step process in revenue recognition
Discussion Leader Dean Cochenour, CPA, MBAFind out more
The AICPA has identified that one in ten audit firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risk under AU-C 315. We’ll then discuss how to respond to identify risks under AU-C 330. The course will focus on the audit risk model and focus on both inherent risk and internal controls.
• Recite audit risk model
• Perform risk assessment procedures compliant with the audit standards
J. William Strickland, CPA and tax attorney, and a representative from the South Carolina Department of Revenue Policy Division, will answer your tax update questions in this informative session:
What has the legislature done? What happened with sales tax on e-tailers? What are the current Department of Revenue initiatives? How can CPAs and The Department of Revenue collaborate to serve the taxpayers of South Carolina?
Answers will be provided from legislation, regulations, rulings, cases, Department of Revenue Policy and the presenter’s personal experience.
This powerful and comprehensive course will enable you to be in compliance with all professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs). It is a go-to reference for training staff and managing your preparation, compilation and review engagements.
This practice-oriented review of the latest developments and cases will be informative and practical thanks to lively discussion among the experienced participants.
This resource provides hard copies of all sample engagement letters, procedure checklists, illustrative reports and more contained in The Essential SSARS No. 21-23 Implementation Toolkit to assist you with implementing new SSARS requirements.
Last chance before tax season to catch up on developments in the tax law likely to affect compliance for 2019 and planning for 2020. Lynn Nichols and Mike Tucker head up the Tax Team for this update that concentrates on significant developments that might affect preparation of a 2019 Form 1040 or the advice you give a client with complex affairs or a unique transaction in 2020. By this time we all have been through a tax season with IRS working the bugs out of the Tax Cuts and Jobs Act. The advice we gave last year might not be correct a year later. Join the Tax Team for this advanced level update and be ready for whatever comes your way from your individual clients.Find out more