This course reviews the recent activities of the Financial Accounting Standards Board (FASB) with a focus on standards effective in the current year. We'll then switch gears and discuss the impact of the reporting suite (SAS 134-141) issued by the AICPA's Auditing Standards Board that will be effective this December. This course provides a strong overview of the key standards that will be effective this year in order to help prepare you to implement them in an effective and practical way.
BENEFITS
Describe recently issued changes to US GAAP
Define a lease under Topic 842
Prepare an audit report compliant with SAS 134 and 136
HIGHLIGHTS
- Recently issued Accounting Standard Updates (ASUs)
- Leases; Financial instruments
- The new auditors report (SAS 134)
- Employee Benefit Plan Audits (SAS 136)
- Materiality
COURSE LEVEL
Update
PREREQUISITES
Prior experience with GAAP or GAAS.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
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