2024 Accounting & Auditing Update

Overview

The course will start off with a look at the Accounting Standard Updates (ASUs) issued by the FASB that will be effective in 2024 as well as those that may be great for early adoption. The course will also review year 2 issues in lease accounting including how to handle lease modifications. We'll then turn our attention from accounting to auditing where we will cover the audit standards coming down the pike including group audit and quality management. 

Prerequisites

Prior experience with GAAS & GAAP

Objectives

• 'Recognize changes to financial reporting effective in 2024
• Recall changes to the conceptual framework
• Identify the requirements for lease modification accounting
• Identify changes to the requirements for group audits
• Recall the impact of quality management on A&A practices

Highlights

• Leases
• Accounting Standards
• Tax Disclosures
• Quality Management
• Group Audits