2024 Annual Update for Accountants & Auditors

Overview

This course will start with the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits. We’ll then switch our attention to the items coming down the pike, including a look at the projects identified by the FASB’s Invitation to Comment: Agenda Consultation. We’ll also review year 2 considerations for leases including modification accounting. Then we will switch gears, switching to the audit side of the house. We’ll review the impact of the changes to auditing group audits as well as the status of the AICPA’s quality management project management. This course will keep auditors up to date on the work of the ASB. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

• Accounting Standard Updates
• Projects identified by the FASB's Invitation to Comment: Agenda Consultation.
• Year 2 considerations for leases including modification accounting.
• The impact of the changes to auditing group audits
• The status of the AICPA's quality management project management.
• The current work of the ASB.

Prerequisites

Prior experience with GAAS & GAAP

Designed For

Accountants in public practice and industry

Objectives

After attending this presentation, you will be able to...

• Recall the impact of recently issued ASUs on financial reporting.
• Analyze the impact of recent SASes on audit engagements.
• Identify the impact of the SQMSs on firms.

Preparation

None