Surgent's Accounting, Audit, and Attest Update for Practitioners with Small-Business Clients Download

Overview

Specifically tailored for practitioners who not only perform audits but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course also discusses the common financial reporting implications of COVID-19. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Through a detailed review of the new lease accounting guidance, common special purpose frameworks, and new guidance related to audits and SSARS engagements, this course will get you up to speed on the things that are most important to your smaller and medium-sized clients.

Prerequisites

Experience in accounting and auditing

Objectives

• Keep abreast of current private company standard setting activities of the PCC
• Review recently issued accounting and non-audit attestation pronouncements and hot topics
• Identify key accounting implications related to new ASUs and ASC Topics 842 and 606
• Understand new guidance applicable to auditing, SSARS and attest engagements
• Be aware of other important guidance affecting small and medium-sized business practitioners

Highlights

• Private company standard setting activities
• Small and medium-sized business-related ASUs
• Lease accounting update
• Lessons adopted from the adoption of Topic 606
• Going concern considerations related to COVID-19
• Special purpose frameworks -- Cash, modified cash, and tax basis
• Common small and medium-sized business financial statement errors and deficiencies
• Newly issued SSARS and SSAE standards
• SASs effective for 2021 year-end audits