Accounting and Auditing

This course provides a practical overview of the most important issues facing most companies and accountants. The focus is on explaining the basis behind major accounting and financial reporting issues and trends in plain language, enabling professionals to understand the most important aspects of relevant generally accepted accounting principles, and why any planned or potential changes are coming down the pike. Discussion Leader: Jennifer Louis

Nonprofits face unique accounting challenges. This course will introduce attendees to the financial statements and unique accounting principles applicable to not-for-profit organizations. Specifically, we will focus on the typical transactions and account balances unique to NFPs, including net assets, agency transactions, contributions, endowments, and programmatic investments. Discussion Leader: Jaclyn Veno

Property, Plant, & Equipment is often one of the largest balances on the financial statements. This course will cover the foundation of auditing PP&E, including the related audit assertions, risks, & threats to the PP&E balance. 

During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. 
Discussion Leader: Jaclyn Veno

Learn the basic skills new staff need to hit the ground running and efficiently complete assigned tasks, including what new auditors are expected to know and do, including the nature, timing, and extent of common audit procedures. Focus on why certain procedures are performed and perform typical procedures. Discussion Leader: Jennifer Louis

All entities are subject to the new expected credit loss model established by recent GAAP. This course will provide highlights of the latest requirements for measurement, presentation, and disclosure. Discussion Leader: Jennifer Louis

Accounting and Auditing standards are constantly changing. Don’t be caught off-guard this Fall by not implementing required professional standard changes. Discussion Leader: Bruce Nunnally

Part 2 of 2: This course will start with the Accounting Standard Updates effective in 2023 for public entities, private entities, and nonprofits. We’ll also review major changes to common control lease arrangements issued early in 2023. 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. Then we will switch gears, switching to the audit side of the house. We’ll review the impact of the changes to auditing estimates, risk assessment, noncompliance with laws and regulations (NOCLAR), as well as the changes coming down the pike for quality management. This course will keep auditors up to date on the work of the ASB. Discussion Leader: Melisa Galasso