2024 Accounting & Auditing Update for Small Businesses

Wednesday, November 27, 2024
Webcast or Webinar, Online
12:00PM - 4:00 PM (opens at 11:30AM) EST
4Credits
Accounting and Auditing

Registration is Open

Members
$129.00 Regular Price
Non-Members
$159.00 Regular Price

CPE PowerPass Users

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$80.00 Members / $112.00 Non-Members
Course Type: Webcast
Course Code: 24/AC897845
Level: Update
Vendor: ACPEN
Field of Study: Auditing, Accounting

Overview:

For many small businesses, the standards issued by the FASB may have little to no effect as they impact topics that do not reflect the type of transactions that these entities most frequently experience. This class will focus on the Accounting Standards Updates (ASUs) that are most likely to impact small businesses with a focus on ASUs initiated by the Private Company Council (PCC). We'll then look at alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs for entities who don't necessarily need to prepare GAAP financial statements but want to use accrual accounting. Finally, we will transition to audit standards that small business auditors will need to implement. 

Objectives:

  • Recall ASUs impacting small businesses 
  • Identify reporting options for small entities other than GAAP
  • Recognize the changes to quality required of small firms 

Major Topics:

  • FRF for SMEs
  • Quality Management
  • Private Company Council

Major Topics:

  • FRF for SMEs
  • Quality Management
  • Private Company Council

Designed For:

Accounting professionals

Prerequisites:

Prior experience with GAAS & GAAP