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 preparation, 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 (2.5)

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

* This course is not able to be presented in a “hybrid” format. Group Live programs are presented in one day. Group internet programs are presented over two half-day sessions.

COURSE OUTLINE [1]

Module Title DURATION H:MM CPE CREDITS FIELD OF STUDY
Introduction and The State of the Profession Report 

  • Update on New CPA Licensure Pathways Legislation/Mobility
  • Accelerating Transformation of the Profession – Top Issues Affecting CPA Firms
  • Cybersecurity – Written Information Security Plans (WISPs) for Tax and Accounting Practices
  • Overview of Newly Effective Authoritative Standards and Client Opportunities for Early Adoption
 1:15 0.5

1.0

 Accounting

Auditing
Internal Use Software and Website Development Costs

Newly revised accounting rules that have been modernized to acknowledge changes in how software is developed using the Agile development model. 

 0:50 1.0 Accounting
Interim Reporting 

Determining the GAAP disclosures required to be included in financial statements issued for interim periods.

  0:25 0.5 Accounting
Other Private Company GAAP Developments

  • Accounting for Debt Exchanges
  • Accounting for Government Grants
 0:50 1.0 Accounting
Leases Revisited Once Again

Results of the FASB Post-Implementation Review (PIR) of the leases standard, ASC 842 and likely standards-setting actions to be taken as a result of the final PIR report by the Private Company Council (PCC) and/or the FASB Board

 0:25 0.5 Accounting
Memory Jogger  – Topics from Prior Clinics Becoming Effective in 2026

  • ASU 2023-09, Improvements to Income Tax Disclosures
  • ASU 2024-01, Profits Interest and Similar Awards Used by Private Equity Portfolio Companies
  • ASU 2024-04, Induced Conversions of Convertible Debt Instruments
  • ASU 2025-03, Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity
  • ASU 2025-05, Credit Loss Allowances for Accounts Receivable and Contract Assets
 0:25 0.5 Accounting
Scope of SSARS Preparation Requirements When Financial Statements are Prepared Under the AICPA Consulting Standards 0:25 0.5 Accounting
Behavioral Ethics[2]

  • Occupational Fraud 2026: ACFE Report to the Nations
  • Fraud Case Study
 0:50 0.5 Behavioral Ethics
Auditing Standards Developments

  • Quality Management Conforming Changes To AICPA Engagement Standards And How Operationalizing Them Affects Engagement Performance Requirements for 2026 and Beyond
  • SAS 149 – Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors
  • Artificial Intelligence (AI) – How Audits are Changing By Application of AI
 1:15 1.5 Auditing
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.

Tailor the Course for Your Firm’s Needs: Pricing includes consultation with the author/instructor to discuss topic time allocations in accordance with your firm’s distinctive needs.