Annual Accounting and Auditing Update

Overview

You could pay $0 for this course!

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard-setting activities of the FASB and AICPA. In addition to providing a detailed review of SAS No. 145, this course will bring you up to date on FASB and AICPA standards issued over the past few years, including the 16 SASs effective since 2021 and beyond. The course also provides many hands-on examples and illustrations to help you apply the guidance in practice. On the financial front, the course covers the 9 ASUs issued in 2023, including ASUs covering crypto assets and leases for common control entities. In addition to a financial accounting update, the course will discuss what you will need to do differently as you adopt new audit standards 142-149 over the next few years, including a detailed review of the audit requirements under SAS 142. The course will also cover the key changes related to SSARS No. 25. Finally, the course reviews the AICPA's quality management project. In summary, the course is your go-to source for all things A&A and will prepare you for your upcoming engagements throughout the rest of the year.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-2524. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

You could pay $0 for this course!

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB's Technical Agenda Leases - Topic 842 Recently issued ASUs covering common control leases, crypto assets (e.g., cryptocurrency), and income tax disclosures ASC 326: CECL Review of SAS 142 - Focus on Audit Evidence Recently issued SASs and other AICPA activity SSARS No. 25 and other recently issued SSARS Detailed review of SAS 145 Other important A&A practice matters

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-2524. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Prerequisites

Experience in accounting and attestation

Designed For

Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities

Objectives

Review and apply recently issued and proposed FASB and AICPA pronouncements Review and apply guidance within ASC 842, Leases Understand SAS 142 and SAS 145 Recall and apply AICPA quality management standards (SQMS 1, SQMS 2, and SQMS 3) Be familiar with other important A&A practice matters you should be aware of Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Preparation

None