Dive right into the accounting standard updates and discuss implementation considerations. Newly released auditing standards will be addressed, and additional time will focus on existing FASB's Private Company Council standards. Review relevant accounting standards affecting 2024 calendar year-end financial statements and adoption and disclosure requirements for 2023 and beyond year-end financial statements. Understand implementation lessons learned with the new Statement on Auditing Standards (SAS) 143 and SAS 145 and recognize how to apply new accounting standards properly.