Surgent's Annual Accounting and Auditing Update

Overview

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.

Highlights

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

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