Overview
This course will start with the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits. We'll then switch our attention to the items coming down the pike, including a look at the projects identified by the FASB's Invitation to Comment: Agenda Consultation. We'll also review year 2 considerations for leases including modification accounting. Then we will switch gears, switching to the audit side of the house. We'll review the impact of the changes to auditing group audits as well as the status of the AICPA's quality management project management. This course will keep auditors up to date on the work of the ASB.
Prerequisites
Prior experience with GAAS & GAAP
Objectives
- Recall the impact of recently issued ASUs on financial reporting
- Describe the impact of recent SASes on audit engagements
- Identify the impact of the SQMSs on firms
Highlights
- Leases
- Accounting Standards
- Tax Disclosures
- Quality Management
- Group Audits
