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Course ID: PAAA
Accounting and Auditing Current Developments (Accounting Update)
Get a fast-paced, broad-based overview of the profession today and the major issues and challenges the profession faces. New developments in the area of accounting and auditing will be highlighted with updated coverage on 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
- Prepare to implement the revenue recognition standard and understand how it may change recognition, documentation and disclosure for your company or clients.
- Obtain and utilize a progress report on standards affecting revenue recognition, leases, and financial instruments/
- Understand the accountants compliance and reporting responsibilities for data breaches.
- Understand the impact of Peer Review program changes on your practice.
- Receive an implementation update on SSARS 21, and the preparation of (plain paper) engagements.
- Recognize recent FASB standards and how they will affect your company or clients.
- Identify current and proposed standards involving EITF, FASB, PCAOB, ASB, and IASB.
- Understand how data analytics will transform the accounting profession.
Major Topics
- Economics, business and reporting risk in today’s economy.
- Implementing the revenue recognition standard.
- Cybersecurity: compliance and reporting issues.
- Recent accounting standards, cash flow, not for profits and financial instruments.
- Financial reporting consequences of the Tax Cuts and Jobs Act.
- Recent FASB pronouncements.
- FASB’s simplification projects.
- SSARS Update: 21: Preparation, compilation and review update.
- ASB standards.
- The impact of deregulation on compliance & reporting.
Advanced Preparations
None.
Who Should Attend
Accountants in public practice and industry who need a comprehensive review of recent accounting and auditing pronouncements and other developments which will affect them in the coming ye* Prepare to implement the revenue recognition standard and understand how it may change recognition, documentation and disclosure for your company or clients * Obtain and utilize a progress report on standards affecting revenue recognition, leases, and financial instruments * Understand the accountants compliance and reporting responsibilities for data breaches * Understand the impact of Peer Review program changes on your practice * Receive an implementation update on SSARS 21, and the preparation of (plain paper) engagements * Recognize recent FASB standards and how they will affect your company or clients. * Identify current and proposed standards involving EITF, FASB, PCAOB, ASB, and IASB. * Understand how data analytics will transform the accounting profession.ar.
Fields of Study
Accounting, AuditingPrerequisites
Prior learning or experience in accounting and auditing.