COURSE SUMMARY

This course provides in-depth, hands-on coverage of recent developments in
accounting, auditing, financial reporting, quality management, peer review and professional ethics. Strong emphasis is placed on the practical application of selected newly issued and/or effective authoritative pronouncements affecting practitioners who perform or supervise compilation, review and/ or audit engagements for small and middle market, privately held businesses. The course is designed for a high level of interaction between the instructor and participants.

COURSE AUTHOR AND FACILITATOR

Ralph Nach,
Author and Facilitator

LEARNING OBJECTIVES

This course will enable participants to apply selected newly issued and effective technical accounting and auditing pronouncements and provide advisory services for clients on related implementation issues.

COURSE INFORMATION

Delivery Methods Fields of Study
Group Live

Group Internet

 Accounting (5.5)

Auditing (1.5)

Behavioral Ethics (1)
CPE Credits Prerequisites
8 Credits  Basic knowledge of US GAAP and US GAAS
Level Advance Preparation
Update None

COURSE OUTLINE

Module Title DURATION H:MM CPE CREDITS FIELD OF STUDY
INTRODUCTION AND THE STATE OF THE PROFESSION REPORT

  • Artificial Intelligence — Proceeding with Caution
  • Crypto Currency and NFTs: Sorting It All Out
  • FASB ASC Amendments with Imminent Effective Dates for Private Companies
 1:15 1.5 ACCT
ACCOUNTING FOR AND DISCLOSURE OF CRYPTO ASSETS

  • Current State and Necessity for Change
  • Criteria for Crypto Assets to be in Scope
  • Case Study
  • Presentation Requirements on Each of the Basic Financial Statements
  • Disclosures in Interim and Annual Financial Statements
 1:40 2.0 ACCT
OTHER PRIVATE COMPANY GAAP DEVELOPMENTS

  • Removal of References to Concepts Statements
  • Joint Venture Formations — Application Example
  • Common Control Lease Arrangements and Leasehold Improvements
  • Accounting for Contract Assets and Contract Liabilities in a Business Combination
  • Profits Interest Awards — Determining Relevant GAAP
  1:40 2.0 ACCT
BEHAVIORAL ETHICS (See Note 2)

  • Accounting Fraud Case Study — Crazy Eddie — Fraud and the Tone at the Top
 0:50 1.0 BEHETH
QUALITY MANAGEMENT: PREPARING FOR IMPLEMENTATION

  • What Is QM and Why Should I Care?
 0:25 0.5 AUD
AUDITING STANDARDS DEVELOPMENTS

  • Risk Assessment Diagnostic Review
 0:50 1.0 AUD
Totals 6:40 8.0
  1. Topics, duration and the allocation of CPE credits between fields of study are subject to change to accommodate late-breaking developments.
  2. Each state board of accountancy has the final authority on the acceptance of ethics-related content for credit.