Overview
This course will cover what's going on at both the FASB and AICPA by reviewing the standards effective this year. We'll start with a review of the Accounting Standards Updates (ASUs) issued by the FASB that will be effective this year including a deep dive into Topic 842, Leases. The course will address those standards that will be effective for both public and private entities in 2022. We'll then turn our attention to the audit side of the house with a focus on SAS 142 which is effective this year.
This course is a great way to overview all the A&A standards effective this year.
Prerequisites
Prior experience with GAAP or GAAS
Objectives
- Recognize changes to financial reporting effective in 2022
- Recall the definition of a lease under Topic 842
- Identify changes to the requirements for audit evidence
Highlights
- Leases
- FASB Update
- Audit Evidence
