Huber, Michaels & Company – Accounting & Auditing Update Day 1
Description
Lease accounting is undergoing drastic revisions for all organizations. Standards differ in subtle and significant ways between ASU 2016-02 (FASB) and GASB 87. This course focusses on the impact on governmental units
Learning Objectives
Prepare to implement the revenue recognition standard and understand how it may change recognition, documentation and disclosure for your company or clients
Obtain and utilize a progress report on standards affecting revenue recognition, leases, and financial instruments
Understand the accountants compliance and reporting responsibilities for data breaches
Understand the impact of Peer Review program changes on your practice
Receive an implementation update on SSARS 21, and the preparation of (plain paper) engagements
Recognize recent FASB standards and how they will affect your company or clients.
Identify current and proposed standards involving EITF, FASB, PCAOB, ASB, and IASB.
Understand how data analytics will transform the accounting profession.
Major Topics
Economics, business and reporting risk in today’s economy
Implementing the revenue recognition standard
Cybersecurity: compliance and reporting issues
Recent accounting standards, cash flow, not for profits and financial instruments.
Financial reporting consequences of the Tax Cuts and Jobs Act.
Recent FASB pronouncements
FASB’s simplification projects
SSARS Update: 21: Preparation, compilation and review update
ASB standards
The impact of deregulation on compliance & reporting
Provider
Business Learning Institute
Course Level
Update
Professional Area of Focus
Accounting & Auditing
Government
CPE Field of Study
Accounting
2.0
Auditing
2.0
Who Should Attend
Accountants in public practice and industry who need a comprehensive review of recent accounting and auditing pronouncements and other developments which will affect them in the coming year
Instructor(s)
Ray Thompson
Prerequisites
Prior learning or experience in accounting and auditing
