Accounting and Auditing

Part 1 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

This updated course offers an in-depth look at the FASB leases standard (ASC 842), which requires organizations to recognize lease assets and liabilities on the balance sheet. This comprehensive course will cover recognition, measurement, presentation, and disclosure requirements, while also focusing on a critical area of change which is the proper identification of a lease using a principles-based approach. We will discuss implementation requirements from both the lessee and lessor accounting models. In addition, we explore a variety of scenarios, including short-term leases, purchase options, variable lease payments, and remeasurement. This course offers practical journal entry examples, lessons learned from implementation, and explores recently issued amendments to the lease accounting guidance. Discussion Leader: Melisa Galasso

The course will start off with a look at the Accounting Standard Updates (ASUs) issued by the FASB that will be effective in 2023. We’ll also review late breaking changes to the lease standard that may impact common control entities. We’ll then turn our attention from accounting to auditing where we will cover the key SASes effective this year including new standards around auditing accounting estimates and risk assessment. This course focuses on what you need to know this year to be ready for 2023 year-end financial reporting and audits. Discussion Leader: Melisa Galasso

Part 2 of 2: Practitioners who provide non-audit services must strike the right balance between complying with relevant professional and regulatory standards while mitigating litigation and other practice management risks. This course contains many best practices for managing the accounting, reporting, and performance issues associated with the attest services of compilations and reviews where reports are issued, as well as the SSARS preparation of financial statements nonattest service. Discussion Leader: Jennifer Louis

PART 1 of 2: Practitioners who provide non-audit services must strike the right balance between complying with relevant professional and regulatory standards while mitigating litigation and other practice management risks. This course contains many best practices for managing the accounting, reporting, and performance issues associated with the attest services of compilations and reviews where reports are issued, as well as the SSARS preparation of financial statements nonattest service. Discussion Leader: Jennifer Louis

The public places high value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error. Discussion Leader: Jennifer Louis

This course is designed to be a brief overview of Yellow Book and the Generally Accepted Auditing Standards. Learn application of concepts to businesses and what responsibilities exist with a Yellow Book financial statement audit. Discussion Leader: Jennifer Louis

Nonprofit entities have a high degree of public accountability. This course will examine the most common fraud schemes and provide multiple examples of how to prevent or detect these schemes. Discussion Leader: Jennifer Louis

In this webinar, state tax expert Michael Fleming will review what is NEXUS, and what to do after you have determined where you have a link or connection with a state (called NEXUS). Determining NEXUS is just the first step in determining if you or your client should register to collect tax. Sometimes there is no requirement to do anything even when you have NEXUS. If there is a requirement to register to collect tax, how should you register? Discussion Leader: Michael Fleming

This course focuses on explaining the theory behind major issues and trends, enabling professionals to understand the most important aspects of relevant professional standards related to audit and other attest services. Discussion Leader: Jennifer Louis