Preparing Financial Statements for Clients 2023

Overview

This course focuses on reviewing standards for preparation services, addressing the associated risks and providing guidance for accountants to make professional judgments. By equipping you with up-to-date knowledge of the AICPA’s professional standards for preparing financial statements, the course empowers you to minimize the risk of material misstatements, be it due to fraud or error. Pairing this course with another 4-unit course enables you to meet the 8-unit accounting CPE requirement for accountants who exclusively prepare financial statements without performing compilations, reviews or audits. Small-Business Financial Statements (FRF) can fulfill the remaining four CPE units. Additionally, the companion course, Start-up and Small Business Financial Statements: Issues and Fraud (SSFR), not only meets the 4-unit fraud requirement but also qualifies as accounting CPE. It’s an efficient way to enhance your expertise and meet your professional development needs.

Highlights

• Misstatements • Materiality • Related parties • Going concern uncertainties • Client acceptance and continuation • Engagement letters • Prospective financial statements • Documentation

Objectives

• Understand the AICPA’s professional standards for preparations of financial statements • Reduce the risk of material misstatements whether caused by fraud or error