2024 Accounting & Auditing Update for Small Businesses

Wednesday, March 05, 2025
Webcast or Webinar, Online
11:00AM - 3:00 PM (opens at 10:30AM) EST
4Credits
Accounting and Auditing

Registration is Open

Members
$149.00 Regular Price
Non-Members
$209.00 Regular Price

CPE PowerPass Users

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$80.00 Members / $112.00 Non-Members
Course Type: Webcast
Course Code: 24/CX46380
Level: Update
Vendor: CPA Crossings, LLC
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. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives:

After attending this presentation, you will be able to...

  • 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:

The major topics that will be covered in this course include:

  • Accounting Standards Updates (ASUs) that are most likely to impact small businesses
  • ASUs initiated by the Private Company Council (PCC).
  • Alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs
  • Audit standards that small business auditors will need to implement.

Major Topics:

The major topics that will be covered in this course include:

  • Accounting Standards Updates (ASUs) that are most likely to impact small businesses
  • ASUs initiated by the Private Company Council (PCC).
  • Alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs
  • Audit standards that small business auditors will need to implement.

Designed For:

Accountants in public practice or industry

Prerequisites:

Prior experience with GAAS & GAAP