Participants will get an overview of new developments in the area of accounting and auditing. Coverage will be updated to reflect the most recently issued official pronouncements. The course will highlight issues faced by private companies and the CPAs who provide a range of services to them.
Learning Objectives
Upon completion of this course, participants will be able to:
Get up-to-date on what is happening in the profession today and the major issues and challenges the profession faces
Implement recently issued standards involving leasing and financial instruments.
Obtain a progress report on standards affecting revenue recognition, leases, and financial instruments
Become aware of fraud schemes that are proliferating in today’s IT environment and strategies to prevent them.
Gain an appreciation of the increasing emphasis on independence when CPAs provide advisory services to clients.
Receive an implementation update on SSARS 21, including engagement-driven compilations and preparation (plain paper) engagements.
Become aware of recent FASB standards and how they will affect your clients.
Receive an update on current and proposed standards involving EITF, FASB, PCAOB, ASB, and IASB.
Major Topics
Audit risk and the economy
Implementing the new lease standard
Fraud in today’s IT environment
Accounting for financial instruments
Independence and advisory services
FASB’s simplification projects
SSARS 21
Compilation and review update
Recent FASB pronouncements
ASB standards
Course Level
Update
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
4
Auditing
4
Who Should Attend
Accountants in public practice and industry who need a comprehensive review of recent accounting and auditing pronouncements
Instructor(s)
Ray Thompson William Engelbret
Prerequisites
Prior learning or experience in accounting and auditing
Advanced Preparation
None
Location
Loyola Graduate Center
2034 Greenspring Dr Lutherville-Timonium, MD21093US
