Overview
Geared toward practitioners who provide accounting and auditing services to small businesses, this course updates you on the new accounting, auditing, compilation, preparation, and review standards, and other professional guidance that impact small businesses and their auditors. Materials include practical applications of the topics covered to help you understand and apply the standards to real-life scenarios. With the rate of change in today’s regulatory environment, you must stay current on the topics impacting the profession.
Objectives
• Identify recently issued FASB, ASB, and ARSC guidance and standards
that impact small businesses.
• Identify key concepts related to exposure drafts and other projects in
accounting and auditing.
• Recognize small business audits: who needs them and why.
Major Topics
• Accounting standards updates, including an update on leases, financial
instruments, and revenue recognition
• Latest activity from FASB, ASB, and ARSC
• An update on audit and attest standards
• Private company financial reporting
• Types of small business audits
Prerequisite
Previous auditing and
accounting experience
