Accounting and Auditing

A typical entity will lose 5% of annual revenues to fraud. This course will discuss the trends and fraud schemes that lead to such losses, as well as best practices for preventing and detecting them. Discussion Leader; Jennifer Louis

External auditors must understand concepts like materiality, reasonableness, and risk of material misstatement. This course will explain how to think like an auditor when preparing your financial statements and related disclosures to achieve fair presentation. 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

There is simply no denying that a sufficiently designed and effectively operating system of internal controls over reliable financial reporting is more important than ever. The primary objective of this course is to give participants “hands-on” practice in designing, evaluating, and communicating conclusions related to design and operating effectiveness of internal controls over reliable financial reporting and other risks for smaller, less-complex, environments. Discussion Leader: Jennifer Louis

Financial statement disclosures are important to provide the information necessary for financial statement users to make economic decisions. Disclosures further explain and clarify information provided in the basic financial statements, but also provide critical information about subsequent events, litigation risk, and other concerns. This course focuses on the most common financial statement disclosures for small- or medium-sized nonpublic entities. Discussion Leader: Jennifer Louis

This course will provide an overview of today’s cybersecurity threats and trends, and how new financial markets create opportunities for cybercrime. Through industry experts, learn to identify sound practices to protect yourself, your systems, and data. Learn about the vulnerabilities and risks to yourself and your business, and some techniques you can use to help you respond to an incident. Discussion Leaders: Ramona Farrell, Steve Konecny, and Brad Whitfield

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 key area of change which is 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.

The morning session will kick off with what’s going on in financial reporting with a look at ASUs effective this year including leases. We’ll also look at the impact of COVID19 on financial reporting. We’ll then switch gears and focus on common audit deficiencies including risk assessment, evidence and documentation. Part Two of Two. Discussion Leader: Melisa Galasso

The morning session will kick off with what’s going on in financial reporting with a look at ASUs effective this year including leases. We’ll also look at the impact of COVID19 on financial reporting. We’ll then switch gears and focus on common audit deficiencies including risk assessment, evidence and documentation. Discussion Leader: Melisa Galasso

This course will review common deficiencies identified by the AICPA and state boards of accountancy. It includes discussion on a variety of topics including auditing estimates, internal controls deficiencies, documentation deficiencies, and risk assessment. We will review the areas of concern, the profession’s response to these deficiencies including SASes 143 and 145, and how you can overcome them by employing best practices. Discussion Leader: Melisa Galasso