Specifically tailored for practitioners who not only 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, auditing, and SSARS 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 new guidance.
Through a detailed review of lease accounting guidance (ASC 842), common special purpose frameworks, new guidance related to audits and SSARS engagements, and the fully implemented credit loss standard (ASC 326, CECL), this course will get you up to speed on the things that are most important to your smaller and medium-sized clients.
Learning Objectives
- Keep abreast of current private company standard setting activities of the PCC
- Review recently issued accounting and non-audit attestation pronouncements and hot topics
- Identify key accounting implications related to new ASUs and ASC Topics 842 and 326
- Understand new guidance applicable to auditing, SSARS and attest engagements
- Be aware of other important guidance affecting small and medium-sized business practitioners
Major Topics
- Private company standard setting activities
- Small and medium-sized business-related ASUs
- Lease accounting update
- Special purpose frameworks – cash, modified cash, and tax basis
- Common small and medium-sized business financial statement errors and deficiencies
- Newly issued SSARS and SSAE standards
- SASs effective for 2023 year-end audits and beyond
