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Overview

8.0 Credits
ONLINE

Specifically tailored for practitioners who perform audits and provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting and SSARS standards and additional professional guidance impacting small and medium-sized business accountants. Practical examples and illustrations help you understand and apply the new guidance.

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 606
  •     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
  •     Lessons adopted from the adoption of Topic 606
  •     Going concern considerations related to COVID-19
  •     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 year-end audits

Prerequisite

Experience in accounting and auditing
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