COURSE DESCRIPTION

This course is designed for tax professionals who have one-person business owners, or 1099 independent contractor, clients. It will provide a detailed introduction to Self-Directed Solo 401(k) retirement plans so that you can: recognize
when a client might benefit from adopting a plan, gain solid background knowledge to answer clients’ most common questions, and learn about important information regarding applicable tax implications and filing requirements.

As your clients’ most trusted advisors, they come to you asking for ways to reduce/defer their income tax liability. Advising your clients on the strategy of implementing a retirement plan, such as a Self-Directed Solo 401(k), maybe
one of the best, cost-effective, and tax-efficient optimization strategies available for them.

Learning Objectives:

After reading the course material, you will be able to:

• Gain an understanding of the Self-Directed Solo 401(k)’s eligibility requirements, contribution limits, investment options, features, and provisions.
• Discover tax-planning opportunities that can help your clients have a tax-efficient and compliant savings strategy for today and in retirement.
• Learn the pitfalls that could result in adverse tax consequences and penalties.
• Obtain important tax filing information and learn about the reporting requirements for the plan.

Website for Hyperlinking:

www.nashionalsd.com

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This course is designed for tax professionals who have one-person business owners, or 1099 independent contractor, clients. It will provide a detailed introduction to Self-Directed Solo 401(k) retirement plans so that you can: recognize when a client might benefit from adopting a plan, gain solid background knowledge to answer clients most common questions, and learn about important information regarding applicable tax implications and filing requirements.

As your clients most trusted advisors, they come to you asking for ways to reduce/defer their income tax liability. Advising your clients on the strategy of implementing a retirement plan, such as a Self-Directed Solo 401(k), maybe one of the best, cost-effective, and tax-efficient optimization strategies available for them.

Learning Objectives:

After reading the course material, you will be able to:

• Gain an understanding of the Self-Directed Solo 401Ks eligibility requirements, contribution limits, investment options, features, and provisions.
• Discover tax-planning opportunities that can help your clients have a tax-efficient and compliant savings strategy for today and in retirement.
• Learn the pitfalls that could result in adverse tax consequences and penalties.
• Obtain important tax filing information and learn about the reporting requirements for the plan.

Website for Hyperlinking:

www.nashionalsd.com

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This course is designed for tax professionals who have one-person business owners, or 1099 independent contractor, clients. It will provide a detailed introduction to Self-Directed Solo 401(k) retirement plans so that you can: recognize when a client might benefit from adopting a plan, gain solid background knowledge to answer clients most common questions, and learn about important information regarding applicable tax implications and filing requirements.

As your clients most trusted advisors, they come to you asking for ways to reduce/defer their income tax liability. Advising your clients on the strategy of implementing a retirement plan, such as a Self-Directed Solo 401(k), maybe one of the best, cost-effective, and tax-efficient optimization strategies available for them.

Learning Objectives:

After reading the course material, you will be able to:

• Gain an understanding of the Self-Directed Solo 401(k)s eligibility requirements, contribution limits, investment options, features, and provisions.
• Discover tax-planning opportunities that can help your clients have a tax-efficient and compliant savings strategy for today and in retirement.
• Learn the pitfalls that could result in adverse tax consequences and penalties.
• Obtain important tax filing information and learn about the reporting requirements for the plan.

Website for Hyperlinking:

www.nashionalsd.com

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes affecting accounting and financial reporting, as well as a review and recall of existing accounting standards. Topics include a summary of newly issued FASB statements, current and pending developments, the new lease standard,  practice issues, a discussion of accounting and financial reporting issues related to post-COVID-19 economic issues, accounting and disclosures for the Employee Retention Credit (ERC) and Pass-Through Entity (PTE) tax, dealing with the forgiveness of PPP loans, and more.

TOPICS COVERED:

• CHAPTER 1: Implementing the Lease Standard
• CHAPTER 2: Accounting and Financial Reporting in a  Post-COVID Economy
• CHAPTER 3: Accounting and Disclosures for ERC and PTE Tax
• CHAPTER 4: PPP Loans and Forgiveness-Accounting and Financial Reporting Issues (2023)
• CHAPTER 5: Current Developments- Accounting and Financial Reporting (2023)
• CHAPTER 6: Financial Instruments- Credit Losses 

Learning Objectives:

After reading the Chapter 1 course material, you will be able to:

• Recognize a key change made to GAAP by the new lease standard
  
• Identify a type of lease that exists for a lessee under ASU 2016-02
• Recall a type of lease for which the ASU 2016-02 rules do not apply  
• Identify some of the types of benefits a lessee can obtain from a leased asset 
• Identify a threshold for a lease term to be considered a major part of an asset’s remaining economic life
• Recognize who an entity might not want to use the risk-free rate to compute the present value of lease payments
• Identify how a lessee should account for initial direct costs 
• Recognize items that are and are not components of a lease term
• Recall the method a lessee should use to record interest expense on a lease obligation
• Identify some types of leases for a lessor
• Recall how a lessor should initially account for initial direct costs for a lease in certain instances
• Identify how a lessor should account for lease payments received on the income statement for an operating lease
• Recall how a lessor should classify certain cash receipts on the statement of cash flows
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Identify how deferred income taxes will be treated for lessees under ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios, and
• Recall the IRS rules as to when an entity should and should not capitalize a lease for tax purposes.

After reading the Chapter 2 course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
  
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Recognize the relationship a change in interest rates has on real estate values
• Identify methods that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify whether the LIFO IPIC approach is acceptable for GAAP
• Recall the net operating loss rules

After reading the Chapter 3 course material, you will be able to:

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
  
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model.
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the statement of income.
• Recognize the proper presentation of the ERC in a tax-basis statement of income.
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation.
• Identify how to account for the PTE tax in an entity’s financial statements.
• Recognize the requirements for recording deferred state income taxes concerning the PTE tax election.
• Identify disclosures that should be made for the PTE tax.

After reading the Chapter 4 course material, you will be able to:

• Identify some of the eligible expenses related to the use of PPP loan proceeds
  
• Recognize approaches to account for PPP loans under GAAP
• Recall how to present  debt issuance costs on the financial statements
• Recognize how to account for PPP loan forgiveness
• Recognize how to present a gain on extinguishment on the statement of cash flows
• Identify how to treat the forgiveness of a PPP loan for tax purposes
• Recognize  how the IAS 20 grant approach is used to account for its PPP loan
• Recognize actions that impact a CPA’s independence in a PPP loan assistance engagement
• Identify whether an emphasis-of-matter paragraph may be used in an accountant’s report when there is forgiveness of a PPP loan

After reading the Chapter 5 course material, you will be able to:

• Identify the goal of the FASB’s Disaggregation-Income Statement Expenses project
  
• Recognize one of the characteristics of a multi-employer pension plan
• Recognize the impact that life expectancy has on the amount of a pension liability
• Identify a concentration of risk that might require disclosure
• Identify a particular way in which most marijuana businesses must operate
• Recognize when a state might be able to charge sales tax under the Wayfair decision
• Recognize the accounting alternative for leases under common control in ASU 2018-17

After reading the Chapter 6 course material, you will be able to:

• Recognize the model that ASU 2016-13 uses to deal with credit losses
  
• Identify how credit losses should be recorded under the new ASU 2016-13
• Identify some of the disclosures required by ASU 2016-13

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of
the various changes affecting accounting, compilation, and review, and auditing
engagements as well as a review and recall of existing standards.  Topics include a summary of newly issued FASB
statements, new statements issued by the Auditing Standards Board, changes in
compilation and review, current and pending developments, practice issues, and
more.

Learning Objectives:

After reading the Chapter 1 course material, you will be able to:

• Recognize a key change made to GAAP by the new lease standard
• Identify a type of lease that exists for a lessee under ASU 2016-02
• Recall a type of lease for which the ASU 2016-02 rules do not apply  
• Identify some of the types of benefits a lessee can obtain from a leased asset 
• Identify a threshold for a lease term to be considered a major part of an asset’s remaining economic life
• Recognize who an entity might not want to use the risk-free rate to compute the present value of lease payments
• Identify how a lessee should account for initial direct costs 
• Recognize items that are and are not components of a lease term
• Recall the method a lessee should use to record interest expense on a lease obligation
• Identify some types of leases for a lessor
• Recall how a lessor should initially account for initial direct costs for a lease in certain instances
• Identify how a lessor should account for lease payments received on the income statement for an operating lease
• Recall how a lessor should classify certain cash receipts on the statement of cash flows
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Identify how deferred income taxes will be treated for lessees under ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios, and
• Recall the IRS rules as to when an entity should and should not capitalize a lease for tax purposes.

After reading the Chapter 2 course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
  
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Recognize the relationship a change in interest rates has on real estate values
• Identify methods that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify whether the LIFO IPIC approach is acceptable for GAAP
• Recall the net operating loss rules

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model.
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the statement of income.
• Recognize the proper presentation of the ERC in a tax-basis statement of income.
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation.
• Identify how to account for the PTE tax in an entity’s financial statements.
• Recognize the requirements for recording deferred state income taxes concerning the PTE tax election.
• Identify disclosures that should be made for the PTE tax.

After reading the Chapter 4 course material, you will be able to:

• Identify some of the eligible expenses related to the use of PPP loan proceeds
• Recognize approaches to account for PPP loans under GAAP
• Recall how to present  debt issuance costs on the financial statements
• Recognize how to account for PPP loan forgiveness
• Recognize how to present a gain on extinguishment on the statement of cash flows
• Identify how to treat the forgiveness of a PPP loan for tax purposes
• Recognize  how the IAS 20 grant approach is used to account for its PPP loan
• Recognize actions that impact a CPA’s independence in a PPP loan assistance engagement, and
• Identify whether an emphasis-of-matter paragraph may be used in an accountant’s report when there is a forgiveness of a PPP loan

After reading the Chapter 5 course material, you will be able to:

• Identify the goal of the FASB’s Disaggregation-Income Statement Expenses project
• Recognize one of the characteristics of a multi-employer pension plan
• Recognize the impact that life expectancy has on the amount of a pension liability
• Identify a concentration of risk that might require disclosure
• Identify a particular way in which most marijuana businesses must operate
• Recognize when a state might be able to charge sales tax under the Wayfair decision
• Recognize the accounting alternative for leases under common control in ASU 2018-17

After reading the Chapter 6 course material, you will be able to:

• Recognize the model that ASU 2016-13 uses to deal with credit losses
• Identify how credit losses should be recorded under the new ASU 2016-13
• Identify some of the disclosures required by ASU 2016-13

After reading the Chapter 7 course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize attributes of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques 
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor 
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates 
• Recall one of the amendments made to AU-C 501 by SAS No. 145  in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialist’s work is not adequate 
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit, and
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entity’s controls.
• Recall the date by which an engagement partner must take responsibility for determining that ethical requirements are fulfilled
• Identify certain requirements an engagement partner must satisfy in performing an audit engagement 
• Recognize examples of resources assigned or made available by a firm to support the performance of an audit engagement
• Identify a type of unconscious bias defined in SAS No. 146
• Recall a possible action that an engagement team may take to mitigate impediments to exercising professional skepticism
• Identify when a successor auditor should request management to authorize a predecessor auditor’s response to the successor auditor’s inquiry
• Recognize one of the new inquiries a successor auditor should make of a predecessor auditor by SAS No. 147
• Recall the extent of a predecessor auditor’s response to a successor auditor’s inquiries when there are certain restrictions on the predecessor auditor.
• Identify an example of a recently issued auditing standard that SAS No. 148 incorporates into amendments to AU-C 935, Compliance Audits.
• Recall examples of inherent risk factors related to identifying and assessing risks of material misstatement in a compliance audit.

After reading the Chapter 8 course material, you will be able to:

• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory
• Recognize an advantage of remote auditing
• Recognize a factor to consider in evaluating the going concern of an entity
• Identify a term used as a benchmark in considering going concerned
• Identify a suggestion for an auditor to reduce time and increase audit efficiency
• Recognize when negative accounts receivable confirmations should not be used
• Recognize a behavioral trait of most occupational fraudsters

After reading the Chapter 9 course material, you will be able to:

• Identify which party is responsible for determining that engagement team members have the appropriate competence and capabilities to perform an SSARS engagement

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the accounting and financial disclosures related to two recent changes from legislation: the Employee Retention Credit (ERC) and the Pass-Through Entity (PTE) Tax.

Topics include:

• An overview of the ERC rules
• Models to use to account for the ERC
• Comparing the use of the ASC 958 model with the IAS 20 model to account for the ERC
• Disclosures required for the ERC including disclosures found in newly issued ASU 2021-10
• Fixing 2020 ERC presentation and disclosure errors
• Presenting the ERC on tax-basis financial statements
• Overview of the Pass-Through Entity (PTE) Tax election
• GAAP accounting for the PTE tax
• GAAP disclosures for the PTE tax
• Presenting the PTE tax on tax-basis financial statements

Learning Objectives:

After reading the course material, you will be able to:

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the 2020 statement of income
• Recognize the proper presentation of the ERC in a tax-basis statement of income
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation
• Identify how to account for the PTE tax in an entitys financial statements
• Recognize the requirements for recording deferred state income taxes with respect to the PTE tax election
• Identify disclosures that should be made for the PTE tax

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the CARES Act and the Consolidated Appropriations Act, 2021, including accounting for Paycheck Protection Program (PPP) loans and forgiveness.

Topics include:

• Disclosures of risks and uncertainties.
• Going-concern reporting and disclosure issues.
• Impairment issues related to goodwill and other long-lived assets.
• Accounting for variable consideration revenue and onerous contracts.
• Dealing with inventory costs and stock market investment losses.
• Collectability of trade receivables; exit and termination benefit obligations.
• Contingencies, and accounting and auditing engagement matter.

The course also discusses the accounting for PPP loans and forgiveness, and the accounting for tax changes made by the CARES Act and Consolidated Appropriations Act,

Learning Objectives:

After reading the course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Identify the benchmark used to determine the going concern
• Recognize how to report an ongoing concern in an audit
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify an advantage of remote auditing
• Recall how to present debt issuance costs in the financial statements
• Recognize how to account for PPP loan forgiveness
• Identify how to treat the forgiveness of a PPP loan for tax purposes, and
• Identify an example of a circumstance in which an emphasis-of-matter paragraph might be necessary.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the latest developments affecting 2021 and 2022 audit engagements, including the impact of COVID-19 on audit engagements.

In this course, auditors will learn about the new auditors report, auditing estimates and audit evidence, and changes made to the auditors understanding of the entity, its environment, and risk assessment procedures, and the guidance
on using the work of specialists as audit evidence. These changes are found in newly issued SAS Nos. 134-145, and the new attestation standards found in SSAE Nos. 19-22.(Items 20 and 20E)

The course focuses on recalling, recognizing, and identifying rules related to auditing standards including new developments about those standards.

Topics include:

• Addressing the auditors consideration of the business and economic environment in which the client operates;
• Accounting and auditing engagement issues during COVID-19 including the impact of the pandemic on an entitys ability to continue as a going concern;
• Client and employee fraud;
• Specific accounting risks for auditors to consider limiting auditor's liability key audit focus areas during volatile times lessons from litigation efficiency engagements to reduce auditor time;
• Various practice issues related to audits;
• Dealing with DOL audits of employee benefit plans; and more...

Learning Objectives:

After reading Section 1 of the course material, you will be able to:

• Identify an example of a concentration that might require disclosure
• Recall the definition of near term
• Identify the most obvious approach to account for a PPP loan under GAAP
• Recall how an entity should account for PPP loan forgiveness
• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory
• Recognize an advantage of remote auditing
• Recognize a behavioral trait of most occupational fraudsters
• Recognize the difference between fraud and an error
• Recall the three conditions of the fraud triangle
• Identify common types of financial statement fraud noted by the FBI
• Recognize an example of a misappropriation of assets
• Identify an additional procedure required to deal with the risk of management override of internal controls
• Recognize a factor to consider in evaluating the going concern of an entity
• Recall how an investment in equity security should be accounted for under GAAP
• Recognize the new sales tax rules in the wake of the Wayfair decision
• Recognize an example of a coverage ratio
• Recall the timeframe within which most lawsuits against auditors occur
• Identify a recommendation to tighten up auditor work papers

After reading Section 2 of the course material, you will be able to:

• Identify a suggestion for an auditor reducing time and increasing audit efficiency
• Recognize when negative accounts receivable confirmations should not be used
• Identify the form of a comfort letter that would be appropriate for an accountant to make to a lender
• Recall the rule for an auditor presenting his or her city and state on the audit report
• Identify the rules for an auditor communicating deficiencies found in an audit
• Recognize an example of a result that can occur if there is a problem with a DOL employee benefit plan audit
• Identify a type of fraudster
• Recall the location of certain sections in the auditors report
• Recognize the categorization of an adverse opinion
• Identify a change that SAS No. 136 makes to the limited-scope ERISA audit
• Recognize one of the changes made by AU-C 703 to ERISA audits
• Recall the reporting requirement when an auditor obtains other information in an audit
• Identify a reference that is made in the new definition of materiality
• Recognize the definition of certain types of paragraphs made by SAS No. 139
• Recognize an example of an attribute of information obtained as audit evidence per SAS No. 142
• Identify how inherent and control risk should be assessed under the SAS No. 143 requirements
• Recall the three approaches that an auditor can use to perform further audit procedures required by SAS No. 143
• Identify some instances in which an auditor may conclude that a specialists work is not adequate
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entitys controls.
• Identify a change made by SSAE No. 19
• Recognize one of the four types of engagements within SSAE No. 21s new definition of attestation engagement
• Identify an example of subject matter that is within the scope of SSAE No. 22s review

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the latest developments affecting 2020 and 2021 audit engagements, including the impact of COVID-19 on audit engagements.

Additionally, in this course, auditors will learn about the new auditor’s report, auditing estimates, and audit evidence guidance found in SAS Nos. 134-143, and the new attestation standards found in SSAE Nos. 19-22.

The course focuses on recalling, recognizing, and identifying rules related to auditing standards including new developments about those standards.

Topics include:

• Addressing the auditors consideration of the business and economic environment in which the client operates
• Accounting and auditing engagement issues during COVID-19 included the impact of the pandemic on an entitys ability to continue as a going concern.
• Client and employee fraud.
• Specific accounting risks for auditors to consider.
• Limiting auditors liability.
• Key audit focus areas during volatile times.
• Lessons from litigation.
• Efficiency engagements to reduce auditor time.
• Various practice issues related to audits.
• Dealing with DOL audits of employee benefit plans; and more!

Learning Objectives:

Section 1:

After reading the Section 1 course material, you will be able to:

• Identify an example of a concentration that might require disclosure.
• Recall the definition of the near term.
• Identify the net operation loss rules under the CARES Act.
• Recognize a key characteristic of a multi-employer pension plan.
• Identify the most obvious approach to account for a PPP loan under GAAP.
• Recall how an entity should account for PPP loan forgiveness.
• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory.
• Recognize an advantage of remote auditing.
• Recognize a behavioral trait of most occupational fraudsters.
• Recognize the difference between fraud and error.
• Recall the three conditions of the fraud triangle.
• Identify common types of financial statement fraud noted by the FBI.
• Recognize an example of a misappropriation of assets.
• Identify an additional procedure required to deal with the risk of management override of internal controls.
• Recognize a factor to consider in evaluating the going concern of an entity.
• Recall how an investment in equity security should be accounted for under GAAP.
• Recognize the new sales tax rules in the wake of the Wayfair decision.
• Recognize an example of a coverage ratio.
• Recall the timeframe within which most lawsuits against auditors occur.
• Identify a recommendation to tighten up auditor work papers.

Section 2:

After reading the Section 2 course material, you will be able to:

• Identify a suggestion for an auditor that reduces time and increases audit efficiency.
• Recognize when negative accounts receivable confirmations should not be used.
• Identify the form of a comfort letter that would be appropriate for an accountant to make to a lender
• Recall the rule for an auditor presenting his or her city and state on the audit report.
• Identify the rules for an auditor communicating deficiencies found in an audit.
• Recognize an example of a result that can occur if there is a problem with a DOL employee benefit plan audit
• Identify a type of fraudster.
• Recall the location of certain sections in the auditors report.
• Recognize the categorization of an adverse opinion.
• Identify a change that SAS No. 136 makes to the limited-scope ERISA audit.
• Recognize one of the changes made by AU-C 703 to ERISA audits.
• Recall the reporting requirement when an auditor obtains other information in an audit.
• Identify a reference that is made in the new definition of materiality.
• Recognize the definition of certain types of paragraphs made by SAS No. 139.
• Recognize an example of an attribute of information obtained as audit evidence per SAS No. 142.
• Identify an attribute of audit evidence referenced in SAS No. 142.
• Identify how inherent and control risk should be assessed under the SAS No. 143 requirements.
• Recall the three approaches that an auditor can use to perform further audit procedures required by SAS No. 143.
• Identify a change made by SSAE No. 19.
• Recognize one of the four types of engagements within SSAE No. 21s new definition of attestation engagement.
• Identify an example of subject matter that is within the scope of SSAE No. 22s review.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance, leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The structure of the course is to encourage the reader to recall existing GAAP rules coupled with identifying, stating, and outlining rules related to new and proposed pronouncements.

The course also discusses accounting and financial reporting issues related to COVID-19.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize a reason why public companies over disclose in their notes to financial statements.
• Identify a proposed change to the statement of cash flows.
• Recall the definition of free cash flow.
• Recognize some of the key ratios used to analyze working capital.
• Identify some of the symptoms of inefficiently managed working capital.
• Recognize one of the characteristics of a multi-employer pension plan
  
• Recognize the impact that life expectancy has on the amount of pension liability.
• Identify the shift in the types of retirement plans over the past decade.
• Recall the types of assets and liabilities found in Level 1 of the fair value hierarchy.
• Recognize the type of information that is used to estimate credit losses under ASU 2016-13.
• Recognized key changes found in the new lease standard.
• Identify how a lessee recognizes a lease liability under the new lease standard.
• Identify potential impacts from implementing the new lease standard.
• Recognize the general structure of the FASB Accounting Standards Codification (ASC).
• Recall the general GAAP rule for managements evaluation of going concerned.
• Identify a concentration of risk that might require disclosure.
• Recall how LIFO should be valued under GAAP.
• Identify how to record the forgiveness of a PPP loan on the financial statements.
• Recognize how net operating losses are treated under the CARES Act.
• Recognize how to present deferred income taxes on the balance sheet under ASU 2015-17.
• Recognize when a state might be able to charge sales tax under the Wayfair decision.
• Identify some unusual transactions and how they are recorded on the statement of cash flows.
• Recognize the types of arrangements that qualify the private company accounting alternative election related to goodwill amortization and acquisitions.
• Recognize the accounting alternative for leases under common control in ASU 2018-17.
• Identify the impairment test for goodwill under ASU 2017-04.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance,
leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The course structure encourages the reader to recall existing GAAP rules coupled with identifying, stating, and outlining rules related to new and proposed pronouncements. The course also discusses accounting and financial reporting issues – post-COVID,
PPP loans, the Employee Retention Credit (ERC), and the Pass-Through Entity (PTE) Tax.

Topics include:

• Latest Developments on the Accounting Front
• Accounting and Reporting Issues- Post- COVID
• GAAP Income Tax Issues- 2022 and 2023 and Other Financial Reporting Issues
• Accounting Standards Updates (ASUs)

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the CARES Act and the Consolidated Appropriations Act, 2021, including accounting for Paycheck Protection
Program (PPP) loans and forgiveness.

The course also discusses the accounting for PPP loans and forgiveness, the accounting for tax changes made by the CARES Act and Consolidated Appropriations Act, and more.

Topics include:

• Disclosures of risks and uncertainties
  
• Impairment issues related to goodwill and other long-lived assets
• Accounting for variable consideration revenue and onerous contracts
• Dealing with inventory costs and stock market investment losses
• Collectability of trade receivables
• Loan modification
• Dealing with business interruption insurance.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules including supply-chain shortages
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract subject to the onerous contract rules
• Recognize how to account for PPP loan forgiveness, and
• Identify how to treat the forgiveness of a PPP loan for tax purposes.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

Learning Objectives:

This course is divided into two sections. The purpose of Section I is to review unusual reporting and disclosure issues that develop in practice including questions such as how to disclose life insurance, leases, catastrophes, agreements
not to compete, and investments. Section II deals with how to disclose and present tax-basis financial statements. Most of the course is presented in a Q&A format.

After reading the Section 1 course material, you will be able to:

• Recall the accounting treatment for non-monetary exchanges
  
• Recognize the formula for measuring impairment of real estate
• Identify the accounting for different types of investments such as securities, investments using the equity method, and partnerships
• Recognize some of the disclosures required for trade receivables
• Recognize how FIFO inventory is valued under the new inventory rules
• Recall certain inventoriable costs
• Recall the GAAP rules to account for an intangible asset with a finite useful life
• Identify the accounting for environmental contamination costs
• Identify examples of costs associated with exit activities
• Recognize how an entity should account for revenue when treated as an agent
• Identify options to avoid having to maintain two depreciation schedules
• Recognize how to account for certain transactions on the statement of cash flows
• Identify examples of group concentrations
• Recognize some of the results from the net operating loss rules in tax reform
• Identify the basic accounting for fresh start reporting
• Identify how web development costs are accounted for during certain stages of development
• Recognize when an entity may elect the fair value option and identify some of the eligible items for which the option is available
• Recognize the basic rule for the liquidation basis of accounting
• Understand How to account for the Pass-Through Entity (PTE) tax in financial statements
  

• Recognize some of the M-1 differences that do not apply to tax-basis financial statements
  
• Recognize how to account for an accounting change in tax-basis financial statements
• Recall how to account for and present nontaxable and nondeductible items in tax -basis financial statements
• Identify the disclosure requirements for tax-basis financial statements
• Recognize the appropriate and inappropriate financial statement titles for tax-basis financial statements

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

This course explains the significant changes made to auditing standards by the Auditing Standards Boards Clarity Project that resulted in the issuance of SAS Nos. 122-133. The course is written in a format that provides an overview by allowing the reader to review, recall, and identify key provisions within the new standards.

Topics Covered:

• ASBs Clarity Project
• Replacement SASs with Substantive Changes
• Other Selected New SASs- Clarifying Changes Only
• SAS Nos. 128-133

Learning Objectives:

After reading the course material, you will be able to:

• Recall the structure of the new ASB Clarity Project and how each new standard is segregated
• Identify categories of laws and regulations that are found in AU-C 250
• Identify the scope of communications an auditor should make concerning noncompliance with laws and regulations
• Identify some of the different types of deficiencies in internal control found in a financial statement audit
• Identify the indicators that may suggest there is a material weakness in internal control
• Identify the information that should be included in communication of certain deficiencies in internal control
• Recognize the new audit report title
• Identify examples of headings that should be in the new auditor report
• Recall some of the modified opinion headings found in the new audit report
• Identify the new type of paragraph that is permitted in the audit report
• Identify some examples where an emphasis-of-matter paragraph is required in the audit report
• Identify the new group auditor rules including the responsibilities of parties involved, and the procedures to be performed
• Identify the different types of special-purpose frameworks permitted under auditing standards
• Identify some of the elements that are required in the different types of special-purpose reports
• Identify the general types of disclosures required in special purpose framework financial statements
• Identify how an auditor can evaluate “professional judgment
• Recognize some of the elements that must be in an engagement letter
• Identify the requirements that a successor auditor must satisfy in an initial audit engagement involving opening balances
• Identify an instance in which it may be necessary for an auditor to obtain a positive confirmation
• Identify when an auditor may not be required to use external confirmation procedures
• Identify a procedure an external auditor should perform concerning an internal auditor
• Define the term “reasonable period of time
• Identify an example of a mitigating plan as used in the evaluation for going concerned
• Recognize how an auditor should report ongoing concern when there is substantial doubt
• Recall an example of a type of exempt offering covered by SAS No. 133

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditor reporting standards issued by the Auditing Standards Board as SAS No. 134-141.

Topics include:

• Overview of the new auditor's report found in SAS No. 134s AU-C 700A, including the new reports format, positioning of sections within the report, title, headings, and expanded language
• Amendments made to various reporting standards by SAS No. 135
• A review of THE new ERISA plan audit standard found in SAS No. 136, AU-C 703, including the format of the new ERISA plan auditors report, positioning of sections of that report, the new ERISA Section 103(a)(3)(C) audit (formerly
  a limited-scope audit) and the auditors report thereon, expanded audit procedures and communications required by auditors of ERISA-plan financial statements
• Changes made by SAS No.137 to the auditor's procedures and reporting on other information, changes made to the definition of materiality by SAS No. 138, changes made to special reports by SAS No, 139, and amendments made by SAS
  No. 140 to supplementary information, required supplementary information, compliance audits, interim financial information, and audits of internal control over financial reporting.

Learning Objectives:

After reading the course material, you will be able to:

• Identify the types of audit reports that can be issued under the new AU-C 700A
• Identify the definition of a written report
• Recognize an acceptable title for an auditors report
• Recognize the order in which certain sections of the new auditor's report should be presented in AU-C 700A
• Recall how an auditor should report when conducting an audit following PCAOB standards
• Recognize the requirements and limitations concerning communicating on key audit matters following the new AU-C 701
• Identify examples of acceptable and unacceptable headings to use in modified reports under the new ASU-C 705A
• Recognize the order in which certain sections of a modified opinion should be presented in the new auditors report in AU-C 705A
• Recognize examples of modified opinions as defined in AU-C 705A
• Identify examples of situations in which an auditor must or may include an emphasis-of-matter or other-matter paragraph as required by new AU-C 706A
• Recall examples of fraud risk factors expanded by SAS No. 135
• Identify expanded procedures auditors of ERISA-plan financial statements must perform in newly issued SAS No. 136, including a review of the draft Form 5500
• Identify the new ERISA Section 103(a)(3)(C) audit in SAS No. 136
• Recognize the scope of the terms other information and annual report as used in the newly issued SAS No. 137 about auditing and reporting other information
• Recall how an auditor should label other information in the auditor report
• Recognize the new definition of materiality found in SAS No. 138
• Identify certain paragraphs in the new auditors' report on a special purpose framework
• Recognize how an auditor should present required supplementary information under SAS No.140s amendment of AU-C 730

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos. 142-145.

The first segment of the course addresses SAS No. 142s expanded guidance on what comprises audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether the information is sufficiently precise and detailed for the auditors purposes; and use of automated tools and techniques.

The second segment is a review of SAS No. 143s guidance on accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates; identifying and assessing the risks of material misstatement including responses to the assessment; indicators of possible management bias, and more.

The third segment consists of a review of SAS No. 144s changes to auditing standards in connection with the use of specialists (management and auditor specialists) and the use of price nformation obtained from external sources.

The final section addresses significant changes made by SAS No. 145 to the auditors understanding of an entity and its environment and the assessment of risks of material misstatement.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize attributes of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates
• Recall one of the amendments made to AU-C 501 by SAS No. 145 in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialists work is not adequate
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entitys controls

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos.  142-145. The first segment of the course addresses SAS No. 142’s expanded guidance on what comprises audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability
of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether the information is sufficiently precise and detailed for the auditor’s purposes; and use of automated
tools and techniques. The second segment is a review of SAS No. 143’s guidance on accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates identifying and assessing the risks of material
misstatement including responses to the assessment; indicators of possible management bias, and more.

The third segment consists of a review of SAS No. 144’s changes to auditing standards in connection with the use of specialists (management and auditor specialists) and the use of price information obtained from external sources. The final section addresses significant changes made by SAS No. 145 to the auditor’s understanding of an entity and its environment and the assessment of risks of material misstatement.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
  
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize characteristics of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques 
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor 
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates 
• Recall one of the amendments made to AU-C 501 by SAS No. 145  in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialist’s work is not adequate 
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit, and
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entity’s controls.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to inform the reader of the various changes made to the compilation and review standards by the AICPAs Accounting and Review Services Committee (ARSC) and to address practice issues related to compilation and review engagements.

The first section of this course consists of an overview of SSARS No. 21, as amended by SSARS Nos. 22 through 25, and addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

The remainder of the course consists of practice issues in compilation and review engagements. Topics include a discussion of an accountants responsibility for fraud, internal control and going concern, representation letters for review engagements, personal financial statements, tax-basis financial statements, legends on financial statements, accountants liability in compilation and review engagements, saving time in engagements, ethics and independence issues, and more. The focus of the course is to identify, recognize and recall the rules about various pronouncements, including those related to recent developments.

Learning Objectives:

After reading the course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21
• Recall whether the preparation of financial statements standard is an attest or non attest service
• Recognize the term that is assigned to engagements performed on the cash, tax, and regulatory bases of accounting
• Recognize a criterion for an accountant to perform a preparation engagement
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in a preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in the preparation of financial statements engagement
• Identify where to disclose GAAP departures in a preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for preparation of financial statements engagement under AR-C 70
• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Recall how an accountant should report when there is a lack of independence in a compilation engagement
• Identify who should sign a representation letter in a review engagement
• Recognize procedures that should be done when performing analytical procedures in a review engagement 5 Practice Issues- Compilation and Review Update 2022
• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework
• Identify the reporting options for controllers who seek to issue financial statements
• Recognize the accountants responsibility for reporting fraud in compilation and review engagements
• Identify the types of analytical procedures that can and cannot be used in a review engagement
• Recognize certain terms used as the basis for evaluating going concern in a review engagement
• Identify factors that may or may not suggest there is a potential going-concern problem in a compilation or review engagement
• Identify the period that defines reasonable period is going concerned
• Recognize the threshold to evaluate an Altman Z Score
• Identify an example of a deferred M-1 that is eliminated by tax-basis financial statements
• Recognize some of the general rules for tax-basis financial statements
• Identify the options available to report on supplementary information in a compilation or review engagement
• Recognize the general disclosure rules when issuing a compilation report on a specified element
• Identify when a management representation letter is required and some general rules about such letters
• Identify a prescribed form and the options for reporting on personal financial statements
• Identify examples of simpler reporting options to issuing GAAP financial statements
• Identify provisions to incorporate into engagement letters to protect the accountant against liability claims
• Recognize the privity standard as it relates to the accountants liability to third parties
• Recognize the general rules to maintain independence when an accountant performs non-attest services for an attested client
• Identify when independence is impaired in certain situations in which an accountant performs non attest services for an attest client

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements. Topics include expanding use of the disclaimer report in a preparation engagement, changes involving the reporting on the contractual basis of accounting, new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement, the new modified conclusions, guidance on going concerned in a review engagement, and more. The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement. This course uses materials entitled SSARS No. 25: Materiality in a Review of Financial Statements and Adverse Conclusions- 2023, authored by Steven C. Fustolo, CPA.

Learning Objectives:

After reading the course material, you will be able to:

• Identify engagement types that are (and are not) authorized under the SSARSs
• Recognize a precondition for an accountant to accept an SSARS engagement
• Identify what is required for an accountant to perform a preparation engagement
• Recall whether the preparation of financial statements standard is an attest or non-attest service
• Recognize whether an accountant and a client must sign an engagement letter for the preparation of financial statements engagement under AR-C 70
• Identify whether a report is required in the preparation of financial statements arrangement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Identify where to disclose GAAP departures in the preparation of financial statements engagement
• Recognize actions an accountant should take under SSARS No. 25 when a compilation is performed on the contractual basis of accounting
• Identify facts that the accountant should consider in determining materiality in a review engagement
• Identify the date on which management representations should be made in a management representation letter for a review engagement
• Recognize a change that SSARS No. 25 makes to the accountant’s review report
• Recall language that SSARS No. 25 requires to be included in a review report on the contractual basis of accounting.
• Identify the term that GAAP uses for management’s assessment of an entity’s going concern
• Recognize the reporting requirements for going concerned in a review engagement
• Recall some of the items that should be documented in a review engagement

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to inform the reader of the impacts the changes made by the Tax Cuts and Jobs Act have on GAAP and financial reporting.

Topics include:

• An analysis of adjustments required to be made to deferred income tax assets and liabilities
• Newly issued ASU 2018-02 related to the tax effect of accumulated other comprehensive income
• Accounting for the change from an S to a C corporation
• Impact of the elimination of like-kind exchanges
• GAAP accounting for bonus and Section 179 depreciation
• New limitations on interest deduction
• SEC SAB 118 transition rules
• Presenting the tax benefit of an NOL carryover, and more.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize how an entity should account for deferred tax accounts under the Tax Cuts and Jobs Act
• Identify how the ASU 2018-02 election is made to reclassify the tax effect on accumulated other comprehensive income
• Recall the adjustment that is made when an entity converts from S to C corporation status
• Recognize the type of like-kind exchange that qualifies for nonrecognition of gain or loss under GAAP
• Identify a way in which an entity can account for bonus depreciation under GAAP.
• Recall the overall impact that the reduction in the corporate tax rate is having on SEC companies
• Recognize whether SEC companies are permitted to discount tax liabilities pertaining to repatriated income.
• Recall when an entity is required to disclose the tax years open for examination

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to discuss the general rules and applications used in the preparation of and reporting on tax-basis financial statements and other bases of accounting found within the special purpose frameworks (also referred to as other comprehensive bases of accounting). Topics include an overview of the types of special purpose frameworks, advantages, and disadvantages of using tax-basis financial statements, tax-basis accrual versus cash basis, reviewing the key differences between GAAP and tax-basis revenue and expenses and other differences, tax-basis disclosures, reporting options for tax-basis financial statements, unusual reporting and presentation issues related to tax-basis financial statements, an overview of other types of special purpose frameworks including pure cash basis, modified cash basis, regulatory basis, contractual basis, and the other basis of accounting, and more. The course also addresses the presentation and disclosures for PPP loans, Employee Retention Credit (ERC), the Pass-Through Entity (PTE) tax, and leases

Topics include:

• Using Tax-Basis Financial Statements for Engagement Profitability
• Scope of Tax-Basis Financial Statements
• Advantages and Disadvantages of Tax-Basis
• Key Differences Between Tax Basis and GAAP
  
• Financial Statement Formats
  
• Tax-Basis Disclosures
• Tax-Basis Reports
• Converting to Tax-Basis Financial Statements
• Unusual Practice Issues
• Other Special Purpose Frameworks

Learning Objectives:

After reading the course material, you will be able to:

• Identify an accounting standard that exempts non-public entities from its application
  
• Recall a disadvantage of the AICPA’s Financial Reporting Framework for SMEs
• Recognize the type of criteria on which the other basis of accounting is based
• Recall whether a one-member LLC is permitted to issue tax-basis financial statements
• Identify the best use for tax-basis accrual financial statements
• Recognize an example of a permanent difference
• Recall an example of a GAAP disclosure that can be eliminated by using tax-basis financial statements
• Identify a situation in which tax-basis financial statements might be misleading
• Recall ways in which nontaxable revenues and non-deductible expenses can be presented in tax-basis financial statements
• Recognize which type of exchange of assets no longer qualifies for like-kind treatment in tax-basis financial statements
• Recall how to account for the installment sales method under GAAP as compared with tax-basis financial statements.
• Recognize how an entity accounts for a change in accounting method on the tax basis of accounting
• Identify how to account for certain transactions on tax-basis financial statements
• Recognize whether supplementary information is part of the financial statements
• Identify titles that are appropriate and not appropriate for tax-basis financial statements
• Recall types of legends that might be included on pages of tax-basis financial statements
• Recall how a statement of cash flows should be accounted for and presented in tax-basis financial statements
• Recognize the rules for presenting a statement of comprehensive income in tax-basis financial statements
• Identify categories of disclosures that should be included in tax-basis financial statements
• Recognize elements that are and are not relevant to tax-basis financial statements in preparing a summary of significant accounting policies
• Recall how certain GAAP disclosures should be handled in tax-basis financial statements
• Recall how to account for the pass-through entity (PTE) tax under tax-basis financial statements.
• Recognize the reporting requirement for preparation and compilation of tax-basis financial statements engagements under SSARS Nos. 21-25
• Recall the appropriate title for a review report on tax-basis financial statements
• Identify certain language that should be included in an audit report on tax-basis financial statements
• Identify the reporting option when an entity changes from GAAP to tax-basis financial statements
• Recognize how an accountant should report on a grantor trust or one-member LLC
• Identify the disclosures that are required if an accountant issues a report on a tax return
• Recall the rules to issue a compilation report on a tax return
• Identify disclosures that are and are not relevant to cash-basis financial statements
• Recognize an element that would be made in a summary of significant accounting policies for the modified cash basis
• Identify other types of special purpose frameworks other than tax basis

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by SSARS No. 21 as amended by SSARS No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus
Statement on Standards for Accounting and Review Services- 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services- 2018, and SSARS No. 25, Materiality in a Review of Financial Statements and Adverse
Conclusions. The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

After reading the Sections I and II course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21

After reading the Section III course material, you will be able to:

• Recall whether the preparation of financial statements standard is an attest or non-attest service
• Recognize the term that is assigned to engagements performed on the cash, tax, and regulatory bases of accounting
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in the preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in the preparation of financial statements engagement
• Identify where to disclose GAAP departures in the preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for the preparation of financial statements engagement under AR-C 70

After reading the Section IV course material, you will be able to:

• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some of the safeguards that must be in place for an accountant to perform a non-attest service for an attest client
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Identify how an accountant should report on a disclaimer of supplementary information in a compilation engagement

After reading the Section V course material, you will be able to:

• Recognize the type of information on which an accountant may or may not perform a review engagement under AR-C 90
• Identify requirements to be satisfied to perform a review engagement under AR-C 90
• Identify the date on which management representations should be made in a management representation letter for a review engagement
• Recognize an appropriate title that can be used for a review report under SSARS No. 21
• Identify the order in which certain report paragraphs should be placed in the review report
• Recognize the definition of a reasonable period in evaluating the going concern
• Recognize how to report in a review engagement per SSARS No. 25, when there is or is not substantial doubt of an entity's ability to continue as a going concern
• Recall some of the items that should be documented in a review engagement

After reading the Section VI course material, you will be able to:

• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by SSARS No. 21 as amended by SSARS No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus
Statement on Standards for Accounting and Review Services- 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services- 2018, and SSARS No. 25, Materiality in a Review of Financial Statements and Adverse
Conclusions.

The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

After reading the Sections I and II course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21

After reading the Section III course material, you will be able to:

• Recall whether the preparation of financial statements standard is an attest or nonattest service
• Recognize the term that is assigned to engagements performed on the cash, tax and regulatory bases of accounting
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in a preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any, when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in a preparation of financial statements engagement
• Identify where to disclose GAAP departures in a preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for a preparation of financial statements engagement under AR-C 70

After reading the Section IV course material, you will be able to:

• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some of the safeguards that must be in place in order for an accountant to perform a nonattest service for an attest client
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Identify how an accountant should report on a disclaimer of supplementary information in a compilation engagement

After reading the Section V course material, you will be able to:

• Recognize the type of information on which an accountant may or may not perform a review engagement under AR-C 90
• Identify requirements to be satisfied to perform a review engagement under AR-C 90
• Identify the date as of which management representations should be made in a management representation letter for a review engagement
• Recognize an appropriate title that can be used for a review report under SSARS No. 21
• Identify the order in which certain report paragraphs should be placed in the review report
• Recognize the definition of a reasonable period of time in evaluating going concern
• Recognize how to report in a review engagement per SSARS No. 25, when there is or is not substantial doubt of an entitys ability to continue as a going concern
• Recall some of the items that should be documented in a review engagement

After reading the Section VI course material, you will be able to:

• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new revenue standard in ASC 606, Revenue from Contracts with Customers, and its related updates, and guide nonpublic (private) entities that implemented the standard in 2020
and are continuing to experience post-implementation issues. Topics include an overview of the new standard and its core principle, an analysis of each of the five steps required in the revenue model, selected issues encompassing
principal versus agent considerations, dealing with warranties, bill-and-hold arrangements, and consignment transactions. The course also addresses how to account for contract costs, financial statement presentation of revenue-related
accounts, disclosures, and transition methods and guidance.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of recognition of revenue prematurely
• Identify one of the five steps to apply the new revenue standard
• Recall a condition that must be met to identify a separate performance obligation
• Identify methods authorized to estimate variable consideration in a contract
• Recognize information that can be used to allocate the transaction price to performance obligations
• Identify two methods that are used to record revenue in Step 5 of the revenue standard
• Recognize how to account for the transfer of a product with a right to return
• Recognize the requirement that must be met for a company to be considered a principal in a revenue transaction
• Recall the general rule that determines whether an entity should record revenue gross or net
• Identify several types of warranties accounted for under the revenue standard
• Identify different types of intellectual property subject to the licensing rules in the revenue standard
• Recognize an example of a prepaid stored-value product
• Recall how an entity should account for breakage related to prepaid stored-value products
• Recall how certain contract costs are accounted for under the revenue standard
• Recognize certain disclosures required by the revenue standard for nonpublic entities, and
• Recall an applicable financial statement (AFS).

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

What qualifies a child for a tax credit, education credit, earned income credit? This being a fairly easy question, isn't always easy to answer. Just because they live with you doesn't mean they qualify. Now we have to look at many factors such as age, school, are the parents married or divorced, who is supporting them, are they claiming themselves, emancipated. During this course, we will look at what qualifies a child under the new TCJA and how it will impact your tax return.

Topics include:

• Who are the children of today?
• Form 8332
• Definition of a Qualified Child
• Support Test
• Credits
• Kiddie Tax
• Gift Tax
• Working Children
• Retirement for a Child
• Health Insurance

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

What qualifies a child for the tax credit, education credit, earned income credit? This being a fairly easy question, isn't always easy to answer. Just because they live with you doesn't mean they qualify. Now we have to look at many factors such as age, school, are the parents married or divorced, who is supporting them, are they claiming themselves, emancipated. During this course, we will look at what qualifies a child under the new TCJA and how it will impact your tax return.

Topics include:

• Who are the children of today?
• Form 8332
• Definition of a Qualified Child
• Support Test
• Credits
• Kiddie Tax
• Gift Tax
• Working Children
• Retirement for a Child
• Health Insurance

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This is an online course that examines tax preparer conduct standards. It addresses the issues of confidentiality, accuracy, conflict of interest, taxpayer omissions, and return of client records. The ethical rules governing these issues are discussed. A final examination covering the course material is administered.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

This is an online course that examines tax preparer conduct standards. It addresses the issues of confidentiality, accuracy, conflict of interest, taxpayer omissions, and return of client records. The ethical rules governing these issues are discussed. A final examination covering the course material is administered.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This course will break down the Section 1031 Exchange for the Internal Revenue code.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

This course will break down the Section 1031 Exchange for the Internal Revenue code.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

What qualifies a child for a tax credit, education credit, earned income credit? This being a fairly easy question, isn't always easy to answer. Just because they live with you doesn't mean they qualify. Now we have to look at many factors such as age, school, are the parents married or divorced, who is supporting them, are they claiming themselves, emancipated. During this course, we will look at what qualifies a child under the new TCJA and how it will impact your tax return.

Topics include:

• Who are the children of today?
• Form 8332
• Definition of a Qualified Child
• Support Test
• Credits
• Kiddie Tax
• Gift Tax
• Working Children
• Retirement for a Child
• Health Insurance

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This is an online course that examines tax preparer conduct standards. It addresses the issues of confidentiality, accuracy, conflict of interest, taxpayer omissions, and return of client records. The ethical rules governing these issues are discussed. A final examination covering the course material is administered.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

CPAR is something many of our clients need to be aware of namely clients who file (or should be filing) an annual Form 1065 Partnership Tax Return. So, if you are involved in a partnership, this is for you. Huge changes to how the IRS audits partnerships filing Form 1065, including LLCs, taxed as partnerships.

This course covers what you need to know about these new rules and how they apply to the 2019 tax season.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

This course will break down the Section 1031 Exchange for the Internal Revenue code.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes affecting accounting and financial reporting, as well as a review and recall of existing accounting standards. Topics include a summary of newly issued FASB statements, current and pending developments, the new lease standard,  practice issues, a discussion of accounting and financial reporting issues related to post-COVID-19 economic issues, accounting and disclosures for the Employee Retention Credit (ERC) and Pass-Through Entity (PTE) tax, dealing with the forgiveness of PPP loans, and more.

TOPICS COVERED:

• CHAPTER 1: Implementing the Lease Standard
• CHAPTER 2: Accounting and Financial Reporting in a  Post-COVID Economy
• CHAPTER 3: Accounting and Disclosures for ERC and PTE Tax
• CHAPTER 4: PPP Loans and Forgiveness-Accounting and Financial Reporting Issues (2023)
• CHAPTER 5: Current Developments- Accounting and Financial Reporting (2023)
• CHAPTER 6: Financial Instruments- Credit Losses 

Learning Objectives:

After reading the Chapter 1 course material, you will be able to:

• Recognize a key change made to GAAP by the new lease standard
  
• Identify a type of lease that exists for a lessee under ASU 2016-02
• Recall a type of lease for which the ASU 2016-02 rules do not apply  
• Identify some of the types of benefits a lessee can obtain from a leased asset 
• Identify a threshold for a lease term to be considered a major part of an asset’s remaining economic life
• Recognize who an entity might not want to use the risk-free rate to compute the present value of lease payments
• Identify how a lessee should account for initial direct costs 
• Recognize items that are and are not components of a lease term
• Recall the method a lessee should use to record interest expense on a lease obligation
• Identify some types of leases for a lessor
• Recall how a lessor should initially account for initial direct costs for a lease in certain instances
• Identify how a lessor should account for lease payments received on the income statement for an operating lease
• Recall how a lessor should classify certain cash receipts on the statement of cash flows
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Identify how deferred income taxes will be treated for lessees under ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios, and
• Recall the IRS rules as to when an entity should and should not capitalize a lease for tax purposes.

After reading the Chapter 2 course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
  
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Recognize the relationship a change in interest rates has on real estate values
• Identify methods that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify whether the LIFO IPIC approach is acceptable for GAAP
• Recall the net operating loss rules

After reading the Chapter 3 course material, you will be able to:

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
  
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model.
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the statement of income.
• Recognize the proper presentation of the ERC in a tax-basis statement of income.
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation.
• Identify how to account for the PTE tax in an entity’s financial statements.
• Recognize the requirements for recording deferred state income taxes concerning the PTE tax election.
• Identify disclosures that should be made for the PTE tax.

After reading the Chapter 4 course material, you will be able to:

• Identify some of the eligible expenses related to the use of PPP loan proceeds
  
• Recognize approaches to account for PPP loans under GAAP
• Recall how to present  debt issuance costs on the financial statements
• Recognize how to account for PPP loan forgiveness
• Recognize how to present a gain on extinguishment on the statement of cash flows
• Identify how to treat the forgiveness of a PPP loan for tax purposes
• Recognize  how the IAS 20 grant approach is used to account for its PPP loan
• Recognize actions that impact a CPA’s independence in a PPP loan assistance engagement
• Identify whether an emphasis-of-matter paragraph may be used in an accountant’s report when there is forgiveness of a PPP loan

After reading the Chapter 5 course material, you will be able to:

• Identify the goal of the FASB’s Disaggregation-Income Statement Expenses project
  
• Recognize one of the characteristics of a multi-employer pension plan
• Recognize the impact that life expectancy has on the amount of a pension liability
• Identify a concentration of risk that might require disclosure
• Identify a particular way in which most marijuana businesses must operate
• Recognize when a state might be able to charge sales tax under the Wayfair decision
• Recognize the accounting alternative for leases under common control in ASU 2018-17

After reading the Chapter 6 course material, you will be able to:

• Recognize the model that ASU 2016-13 uses to deal with credit losses
  
• Identify how credit losses should be recorded under the new ASU 2016-13
• Identify some of the disclosures required by ASU 2016-13

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of
the various changes affecting accounting, compilation, and review, and auditing
engagements as well as a review and recall of existing standards.  Topics include a summary of newly issued FASB
statements, new statements issued by the Auditing Standards Board, changes in
compilation and review, current and pending developments, practice issues, and
more.

Learning Objectives:

After reading the Chapter 1 course material, you will be able to:

• Recognize a key change made to GAAP by the new lease standard
• Identify a type of lease that exists for a lessee under ASU 2016-02
• Recall a type of lease for which the ASU 2016-02 rules do not apply  
• Identify some of the types of benefits a lessee can obtain from a leased asset 
• Identify a threshold for a lease term to be considered a major part of an asset’s remaining economic life
• Recognize who an entity might not want to use the risk-free rate to compute the present value of lease payments
• Identify how a lessee should account for initial direct costs 
• Recognize items that are and are not components of a lease term
• Recall the method a lessee should use to record interest expense on a lease obligation
• Identify some types of leases for a lessor
• Recall how a lessor should initially account for initial direct costs for a lease in certain instances
• Identify how a lessor should account for lease payments received on the income statement for an operating lease
• Recall how a lessor should classify certain cash receipts on the statement of cash flows
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Identify how deferred income taxes will be treated for lessees under ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios, and
• Recall the IRS rules as to when an entity should and should not capitalize a lease for tax purposes.

After reading the Chapter 2 course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
  
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Recognize the relationship a change in interest rates has on real estate values
• Identify methods that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify whether the LIFO IPIC approach is acceptable for GAAP
• Recall the net operating loss rules

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model.
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the statement of income.
• Recognize the proper presentation of the ERC in a tax-basis statement of income.
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation.
• Identify how to account for the PTE tax in an entity’s financial statements.
• Recognize the requirements for recording deferred state income taxes concerning the PTE tax election.
• Identify disclosures that should be made for the PTE tax.

After reading the Chapter 4 course material, you will be able to:

• Identify some of the eligible expenses related to the use of PPP loan proceeds
• Recognize approaches to account for PPP loans under GAAP
• Recall how to present  debt issuance costs on the financial statements
• Recognize how to account for PPP loan forgiveness
• Recognize how to present a gain on extinguishment on the statement of cash flows
• Identify how to treat the forgiveness of a PPP loan for tax purposes
• Recognize  how the IAS 20 grant approach is used to account for its PPP loan
• Recognize actions that impact a CPA’s independence in a PPP loan assistance engagement, and
• Identify whether an emphasis-of-matter paragraph may be used in an accountant’s report when there is a forgiveness of a PPP loan

After reading the Chapter 5 course material, you will be able to:

• Identify the goal of the FASB’s Disaggregation-Income Statement Expenses project
• Recognize one of the characteristics of a multi-employer pension plan
• Recognize the impact that life expectancy has on the amount of a pension liability
• Identify a concentration of risk that might require disclosure
• Identify a particular way in which most marijuana businesses must operate
• Recognize when a state might be able to charge sales tax under the Wayfair decision
• Recognize the accounting alternative for leases under common control in ASU 2018-17

After reading the Chapter 6 course material, you will be able to:

• Recognize the model that ASU 2016-13 uses to deal with credit losses
• Identify how credit losses should be recorded under the new ASU 2016-13
• Identify some of the disclosures required by ASU 2016-13

After reading the Chapter 7 course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize attributes of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques 
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor 
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates 
• Recall one of the amendments made to AU-C 501 by SAS No. 145  in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialist’s work is not adequate 
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit, and
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entity’s controls.
• Recall the date by which an engagement partner must take responsibility for determining that ethical requirements are fulfilled
• Identify certain requirements an engagement partner must satisfy in performing an audit engagement 
• Recognize examples of resources assigned or made available by a firm to support the performance of an audit engagement
• Identify a type of unconscious bias defined in SAS No. 146
• Recall a possible action that an engagement team may take to mitigate impediments to exercising professional skepticism
• Identify when a successor auditor should request management to authorize a predecessor auditor’s response to the successor auditor’s inquiry
• Recognize one of the new inquiries a successor auditor should make of a predecessor auditor by SAS No. 147
• Recall the extent of a predecessor auditor’s response to a successor auditor’s inquiries when there are certain restrictions on the predecessor auditor.
• Identify an example of a recently issued auditing standard that SAS No. 148 incorporates into amendments to AU-C 935, Compliance Audits.
• Recall examples of inherent risk factors related to identifying and assessing risks of material misstatement in a compliance audit.

After reading the Chapter 8 course material, you will be able to:

• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory
• Recognize an advantage of remote auditing
• Recognize a factor to consider in evaluating the going concern of an entity
• Identify a term used as a benchmark in considering going concerned
• Identify a suggestion for an auditor to reduce time and increase audit efficiency
• Recognize when negative accounts receivable confirmations should not be used
• Recognize a behavioral trait of most occupational fraudsters

After reading the Chapter 9 course material, you will be able to:

• Identify which party is responsible for determining that engagement team members have the appropriate competence and capabilities to perform an SSARS engagement

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the accounting and financial disclosures related to two recent changes from legislation: the Employee Retention Credit (ERC) and the Pass-Through Entity (PTE) Tax.

Topics include:

• An overview of the ERC rules
• Models to use to account for the ERC
• Comparing the use of the ASC 958 model with the IAS 20 model to account for the ERC
• Disclosures required for the ERC including disclosures found in newly issued ASU 2021-10
• Fixing 2020 ERC presentation and disclosure errors
• Presenting the ERC on tax-basis financial statements
• Overview of the Pass-Through Entity (PTE) Tax election
• GAAP accounting for the PTE tax
• GAAP disclosures for the PTE tax
• Presenting the PTE tax on tax-basis financial statements

Learning Objectives:

After reading the course material, you will be able to:

• Recognize the type of expense that is the basis for measuring the amount of the ERC.
• Identify where to present the ERC in the statement of income using the ASC 958 conditional contribution model
• Recognize where to present the ERC in the statement of income using the IAS 20 grant model.
• Identify an action step to be taken to correct the previous presentation and disclosure of an ERC in the 2020 statement of income
• Recognize the proper presentation of the ERC in a tax-basis statement of income
• Recognize a technique that has been attempted to circumvent the SALT deduction limitation
• Identify how to account for the PTE tax in an entitys financial statements
• Recognize the requirements for recording deferred state income taxes with respect to the PTE tax election
• Identify disclosures that should be made for the PTE tax

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the CARES Act and the Consolidated Appropriations Act, 2021, including accounting for Paycheck Protection Program (PPP) loans and forgiveness.

Topics include:

• Disclosures of risks and uncertainties.
• Going-concern reporting and disclosure issues.
• Impairment issues related to goodwill and other long-lived assets.
• Accounting for variable consideration revenue and onerous contracts.
• Dealing with inventory costs and stock market investment losses.
• Collectability of trade receivables; exit and termination benefit obligations.
• Contingencies, and accounting and auditing engagement matter.

The course also discusses the accounting for PPP loans and forgiveness, and the accounting for tax changes made by the CARES Act and Consolidated Appropriations Act,

Learning Objectives:

After reading the course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Recognize some exit and disposal costs
• Recall how to classify business interruption insurance proceeds on the financial statements
• Identify the benchmark used to determine the going concern
• Recognize how to report an ongoing concern in an audit
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify an advantage of remote auditing
• Recall how to present debt issuance costs in the financial statements
• Recognize how to account for PPP loan forgiveness
• Identify how to treat the forgiveness of a PPP loan for tax purposes, and
• Identify an example of a circumstance in which an emphasis-of-matter paragraph might be necessary.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the latest developments affecting 2021 and 2022 audit engagements, including the impact of COVID-19 on audit engagements.

In this course, auditors will learn about the new auditors report, auditing estimates and audit evidence, and changes made to the auditors understanding of the entity, its environment, and risk assessment procedures, and the guidance
on using the work of specialists as audit evidence. These changes are found in newly issued SAS Nos. 134-145, and the new attestation standards found in SSAE Nos. 19-22.(Items 20 and 20E)

The course focuses on recalling, recognizing, and identifying rules related to auditing standards including new developments about those standards.

Topics include:

• Addressing the auditors consideration of the business and economic environment in which the client operates;
• Accounting and auditing engagement issues during COVID-19 including the impact of the pandemic on an entitys ability to continue as a going concern;
• Client and employee fraud;
• Specific accounting risks for auditors to consider limiting auditor's liability key audit focus areas during volatile times lessons from litigation efficiency engagements to reduce auditor time;
• Various practice issues related to audits;
• Dealing with DOL audits of employee benefit plans; and more...

Learning Objectives:

After reading Section 1 of the course material, you will be able to:

• Identify an example of a concentration that might require disclosure
• Recall the definition of near term
• Identify the most obvious approach to account for a PPP loan under GAAP
• Recall how an entity should account for PPP loan forgiveness
• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory
• Recognize an advantage of remote auditing
• Recognize a behavioral trait of most occupational fraudsters
• Recognize the difference between fraud and an error
• Recall the three conditions of the fraud triangle
• Identify common types of financial statement fraud noted by the FBI
• Recognize an example of a misappropriation of assets
• Identify an additional procedure required to deal with the risk of management override of internal controls
• Recognize a factor to consider in evaluating the going concern of an entity
• Recall how an investment in equity security should be accounted for under GAAP
• Recognize the new sales tax rules in the wake of the Wayfair decision
• Recognize an example of a coverage ratio
• Recall the timeframe within which most lawsuits against auditors occur
• Identify a recommendation to tighten up auditor work papers

After reading Section 2 of the course material, you will be able to:

• Identify a suggestion for an auditor reducing time and increasing audit efficiency
• Recognize when negative accounts receivable confirmations should not be used
• Identify the form of a comfort letter that would be appropriate for an accountant to make to a lender
• Recall the rule for an auditor presenting his or her city and state on the audit report
• Identify the rules for an auditor communicating deficiencies found in an audit
• Recognize an example of a result that can occur if there is a problem with a DOL employee benefit plan audit
• Identify a type of fraudster
• Recall the location of certain sections in the auditors report
• Recognize the categorization of an adverse opinion
• Identify a change that SAS No. 136 makes to the limited-scope ERISA audit
• Recognize one of the changes made by AU-C 703 to ERISA audits
• Recall the reporting requirement when an auditor obtains other information in an audit
• Identify a reference that is made in the new definition of materiality
• Recognize the definition of certain types of paragraphs made by SAS No. 139
• Recognize an example of an attribute of information obtained as audit evidence per SAS No. 142
• Identify how inherent and control risk should be assessed under the SAS No. 143 requirements
• Recall the three approaches that an auditor can use to perform further audit procedures required by SAS No. 143
• Identify some instances in which an auditor may conclude that a specialists work is not adequate
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entitys controls.
• Identify a change made by SSAE No. 19
• Recognize one of the four types of engagements within SSAE No. 21s new definition of attestation engagement
• Identify an example of subject matter that is within the scope of SSAE No. 22s review

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the latest developments affecting 2020 and 2021 audit engagements, including the impact of COVID-19 on audit engagements.

Additionally, in this course, auditors will learn about the new auditor’s report, auditing estimates, and audit evidence guidance found in SAS Nos. 134-143, and the new attestation standards found in SSAE Nos. 19-22.

The course focuses on recalling, recognizing, and identifying rules related to auditing standards including new developments about those standards.

Topics include:

• Addressing the auditors consideration of the business and economic environment in which the client operates
• Accounting and auditing engagement issues during COVID-19 included the impact of the pandemic on an entitys ability to continue as a going concern.
• Client and employee fraud.
• Specific accounting risks for auditors to consider.
• Limiting auditors liability.
• Key audit focus areas during volatile times.
• Lessons from litigation.
• Efficiency engagements to reduce auditor time.
• Various practice issues related to audits.
• Dealing with DOL audits of employee benefit plans; and more!

Learning Objectives:

Section 1:

After reading the Section 1 course material, you will be able to:

• Identify an example of a concentration that might require disclosure.
• Recall the definition of the near term.
• Identify the net operation loss rules under the CARES Act.
• Recognize a key characteristic of a multi-employer pension plan.
• Identify the most obvious approach to account for a PPP loan under GAAP.
• Recall how an entity should account for PPP loan forgiveness.
• Identify a scenario in which it would be impracticable for an auditor to attend a physical inventory.
• Recognize an advantage of remote auditing.
• Recognize a behavioral trait of most occupational fraudsters.
• Recognize the difference between fraud and error.
• Recall the three conditions of the fraud triangle.
• Identify common types of financial statement fraud noted by the FBI.
• Recognize an example of a misappropriation of assets.
• Identify an additional procedure required to deal with the risk of management override of internal controls.
• Recognize a factor to consider in evaluating the going concern of an entity.
• Recall how an investment in equity security should be accounted for under GAAP.
• Recognize the new sales tax rules in the wake of the Wayfair decision.
• Recognize an example of a coverage ratio.
• Recall the timeframe within which most lawsuits against auditors occur.
• Identify a recommendation to tighten up auditor work papers.

Section 2:

After reading the Section 2 course material, you will be able to:

• Identify a suggestion for an auditor that reduces time and increases audit efficiency.
• Recognize when negative accounts receivable confirmations should not be used.
• Identify the form of a comfort letter that would be appropriate for an accountant to make to a lender
• Recall the rule for an auditor presenting his or her city and state on the audit report.
• Identify the rules for an auditor communicating deficiencies found in an audit.
• Recognize an example of a result that can occur if there is a problem with a DOL employee benefit plan audit
• Identify a type of fraudster.
• Recall the location of certain sections in the auditors report.
• Recognize the categorization of an adverse opinion.
• Identify a change that SAS No. 136 makes to the limited-scope ERISA audit.
• Recognize one of the changes made by AU-C 703 to ERISA audits.
• Recall the reporting requirement when an auditor obtains other information in an audit.
• Identify a reference that is made in the new definition of materiality.
• Recognize the definition of certain types of paragraphs made by SAS No. 139.
• Recognize an example of an attribute of information obtained as audit evidence per SAS No. 142.
• Identify an attribute of audit evidence referenced in SAS No. 142.
• Identify how inherent and control risk should be assessed under the SAS No. 143 requirements.
• Recall the three approaches that an auditor can use to perform further audit procedures required by SAS No. 143.
• Identify a change made by SSAE No. 19.
• Recognize one of the four types of engagements within SSAE No. 21s new definition of attestation engagement.
• Identify an example of subject matter that is within the scope of SSAE No. 22s review.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance, leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The structure of the course is to encourage the reader to recall existing GAAP rules coupled with identifying, stating, and outlining rules related to new and proposed pronouncements.

The course also discusses accounting and financial reporting issues related to COVID-19.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize a reason why public companies over disclose in their notes to financial statements.
• Identify a proposed change to the statement of cash flows.
• Recall the definition of free cash flow.
• Recognize some of the key ratios used to analyze working capital.
• Identify some of the symptoms of inefficiently managed working capital.
• Recognize one of the characteristics of a multi-employer pension plan
  
• Recognize the impact that life expectancy has on the amount of pension liability.
• Identify the shift in the types of retirement plans over the past decade.
• Recall the types of assets and liabilities found in Level 1 of the fair value hierarchy.
• Recognize the type of information that is used to estimate credit losses under ASU 2016-13.
• Recognized key changes found in the new lease standard.
• Identify how a lessee recognizes a lease liability under the new lease standard.
• Identify potential impacts from implementing the new lease standard.
• Recognize the general structure of the FASB Accounting Standards Codification (ASC).
• Recall the general GAAP rule for managements evaluation of going concerned.
• Identify a concentration of risk that might require disclosure.
• Recall how LIFO should be valued under GAAP.
• Identify how to record the forgiveness of a PPP loan on the financial statements.
• Recognize how net operating losses are treated under the CARES Act.
• Recognize how to present deferred income taxes on the balance sheet under ASU 2015-17.
• Recognize when a state might be able to charge sales tax under the Wayfair decision.
• Identify some unusual transactions and how they are recorded on the statement of cash flows.
• Recognize the types of arrangements that qualify the private company accounting alternative election related to goodwill amortization and acquisitions.
• Recognize the accounting alternative for leases under common control in ASU 2018-17.
• Identify the impairment test for goodwill under ASU 2017-04.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes to accounting and financial reporting affecting the accounting professional. Topics include a review of FASB projects including those related to financial performance,
leases, and financial instruments, practice issues involving the statement of cash flows, fair value reporting, pensions, the international convergence project, little GAAP, and more. The course structure encourages the reader to recall existing GAAP rules coupled with identifying, stating, and outlining rules related to new and proposed pronouncements. The course also discusses accounting and financial reporting issues – post-COVID,
PPP loans, the Employee Retention Credit (ERC), and the Pass-Through Entity (PTE) Tax.

Topics include:

• Latest Developments on the Accounting Front
• Accounting and Reporting Issues- Post- COVID
• GAAP Income Tax Issues- 2022 and 2023 and Other Financial Reporting Issues
• Accounting Standards Updates (ASUs)

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the CARES Act and the Consolidated Appropriations Act, 2021, including accounting for Paycheck Protection
Program (PPP) loans and forgiveness.

The course also discusses the accounting for PPP loans and forgiveness, the accounting for tax changes made by the CARES Act and Consolidated Appropriations Act, and more.

Topics include:

• Disclosures of risks and uncertainties
  
• Impairment issues related to goodwill and other long-lived assets
• Accounting for variable consideration revenue and onerous contracts
• Dealing with inventory costs and stock market investment losses
• Collectability of trade receivables
• Loan modification
• Dealing with business interruption insurance.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules including supply-chain shortages
• Identify the definition of near term
• Recall the frequency in which an entity should test goodwill for impairment
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract subject to the onerous contract rules
• Recognize how to account for PPP loan forgiveness, and
• Identify how to treat the forgiveness of a PPP loan for tax purposes.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

Learning Objectives:

This course is divided into two sections. The purpose of Section I is to review unusual reporting and disclosure issues that develop in practice including questions such as how to disclose life insurance, leases, catastrophes, agreements
not to compete, and investments. Section II deals with how to disclose and present tax-basis financial statements. Most of the course is presented in a Q&A format.

After reading the Section 1 course material, you will be able to:

• Recall the accounting treatment for non-monetary exchanges
  
• Recognize the formula for measuring impairment of real estate
• Identify the accounting for different types of investments such as securities, investments using the equity method, and partnerships
• Recognize some of the disclosures required for trade receivables
• Recognize how FIFO inventory is valued under the new inventory rules
• Recall certain inventoriable costs
• Recall the GAAP rules to account for an intangible asset with a finite useful life
• Identify the accounting for environmental contamination costs
• Identify examples of costs associated with exit activities
• Recognize how an entity should account for revenue when treated as an agent
• Identify options to avoid having to maintain two depreciation schedules
• Recognize how to account for certain transactions on the statement of cash flows
• Identify examples of group concentrations
• Recognize some of the results from the net operating loss rules in tax reform
• Identify the basic accounting for fresh start reporting
• Identify how web development costs are accounted for during certain stages of development
• Recognize when an entity may elect the fair value option and identify some of the eligible items for which the option is available
• Recognize the basic rule for the liquidation basis of accounting
• Understand How to account for the Pass-Through Entity (PTE) tax in financial statements
  

• Recognize some of the M-1 differences that do not apply to tax-basis financial statements
  
• Recognize how to account for an accounting change in tax-basis financial statements
• Recall how to account for and present nontaxable and nondeductible items in tax -basis financial statements
• Identify the disclosure requirements for tax-basis financial statements
• Recognize the appropriate and inappropriate financial statement titles for tax-basis financial statements

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

This course explains the significant changes made to auditing standards by the Auditing Standards Boards Clarity Project that resulted in the issuance of SAS Nos. 122-133. The course is written in a format that provides an overview by allowing the reader to review, recall, and identify key provisions within the new standards.

Topics Covered:

• ASBs Clarity Project
• Replacement SASs with Substantive Changes
• Other Selected New SASs- Clarifying Changes Only
• SAS Nos. 128-133

Learning Objectives:

After reading the course material, you will be able to:

• Recall the structure of the new ASB Clarity Project and how each new standard is segregated
• Identify categories of laws and regulations that are found in AU-C 250
• Identify the scope of communications an auditor should make concerning noncompliance with laws and regulations
• Identify some of the different types of deficiencies in internal control found in a financial statement audit
• Identify the indicators that may suggest there is a material weakness in internal control
• Identify the information that should be included in communication of certain deficiencies in internal control
• Recognize the new audit report title
• Identify examples of headings that should be in the new auditor report
• Recall some of the modified opinion headings found in the new audit report
• Identify the new type of paragraph that is permitted in the audit report
• Identify some examples where an emphasis-of-matter paragraph is required in the audit report
• Identify the new group auditor rules including the responsibilities of parties involved, and the procedures to be performed
• Identify the different types of special-purpose frameworks permitted under auditing standards
• Identify some of the elements that are required in the different types of special-purpose reports
• Identify the general types of disclosures required in special purpose framework financial statements
• Identify how an auditor can evaluate “professional judgment
• Recognize some of the elements that must be in an engagement letter
• Identify the requirements that a successor auditor must satisfy in an initial audit engagement involving opening balances
• Identify an instance in which it may be necessary for an auditor to obtain a positive confirmation
• Identify when an auditor may not be required to use external confirmation procedures
• Identify a procedure an external auditor should perform concerning an internal auditor
• Define the term “reasonable period of time
• Identify an example of a mitigating plan as used in the evaluation for going concerned
• Recognize how an auditor should report ongoing concern when there is substantial doubt
• Recall an example of a type of exempt offering covered by SAS No. 133

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditor reporting standards issued by the Auditing Standards Board as SAS No. 134-141.

Topics include:

• Overview of the new auditor's report found in SAS No. 134s AU-C 700A, including the new reports format, positioning of sections within the report, title, headings, and expanded language
• Amendments made to various reporting standards by SAS No. 135
• A review of THE new ERISA plan audit standard found in SAS No. 136, AU-C 703, including the format of the new ERISA plan auditors report, positioning of sections of that report, the new ERISA Section 103(a)(3)(C) audit (formerly
  a limited-scope audit) and the auditors report thereon, expanded audit procedures and communications required by auditors of ERISA-plan financial statements
• Changes made by SAS No.137 to the auditor's procedures and reporting on other information, changes made to the definition of materiality by SAS No. 138, changes made to special reports by SAS No, 139, and amendments made by SAS
  No. 140 to supplementary information, required supplementary information, compliance audits, interim financial information, and audits of internal control over financial reporting.

Learning Objectives:

After reading the course material, you will be able to:

• Identify the types of audit reports that can be issued under the new AU-C 700A
• Identify the definition of a written report
• Recognize an acceptable title for an auditors report
• Recognize the order in which certain sections of the new auditor's report should be presented in AU-C 700A
• Recall how an auditor should report when conducting an audit following PCAOB standards
• Recognize the requirements and limitations concerning communicating on key audit matters following the new AU-C 701
• Identify examples of acceptable and unacceptable headings to use in modified reports under the new ASU-C 705A
• Recognize the order in which certain sections of a modified opinion should be presented in the new auditors report in AU-C 705A
• Recognize examples of modified opinions as defined in AU-C 705A
• Identify examples of situations in which an auditor must or may include an emphasis-of-matter or other-matter paragraph as required by new AU-C 706A
• Recall examples of fraud risk factors expanded by SAS No. 135
• Identify expanded procedures auditors of ERISA-plan financial statements must perform in newly issued SAS No. 136, including a review of the draft Form 5500
• Identify the new ERISA Section 103(a)(3)(C) audit in SAS No. 136
• Recognize the scope of the terms other information and annual report as used in the newly issued SAS No. 137 about auditing and reporting other information
• Recall how an auditor should label other information in the auditor report
• Recognize the new definition of materiality found in SAS No. 138
• Identify certain paragraphs in the new auditors' report on a special purpose framework
• Recognize how an auditor should present required supplementary information under SAS No.140s amendment of AU-C 730

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos. 142-145.

The first segment of the course addresses SAS No. 142s expanded guidance on what comprises audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether the information is sufficiently precise and detailed for the auditors purposes; and use of automated tools and techniques.

The second segment is a review of SAS No. 143s guidance on accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates; identifying and assessing the risks of material misstatement including responses to the assessment; indicators of possible management bias, and more.

The third segment consists of a review of SAS No. 144s changes to auditing standards in connection with the use of specialists (management and auditor specialists) and the use of price nformation obtained from external sources.

The final section addresses significant changes made by SAS No. 145 to the auditors understanding of an entity and its environment and the assessment of risks of material misstatement.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize attributes of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates
• Recall one of the amendments made to AU-C 501 by SAS No. 145 in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialists work is not adequate
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entitys controls

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos.  142-145. The first segment of the course addresses SAS No. 142’s expanded guidance on what comprises audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability
of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether the information is sufficiently precise and detailed for the auditor’s purposes; and use of automated
tools and techniques. The second segment is a review of SAS No. 143’s guidance on accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates identifying and assessing the risks of material
misstatement including responses to the assessment; indicators of possible management bias, and more.

The third segment consists of a review of SAS No. 144’s changes to auditing standards in connection with the use of specialists (management and auditor specialists) and the use of price information obtained from external sources. The final section addresses significant changes made by SAS No. 145 to the auditor’s understanding of an entity and its environment and the assessment of risks of material misstatement.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of an attribute of information obtained as audit evidence
  
• Recognize actions an auditor should perform in evaluating information used as audit evidence
• Recognize characteristics of information to be used as audit evidence
• Identify an attribute that affects the reliability of information used as audit evidence
• Recall functions on which an auditor can use automated tools and techniques 
• Identify an example of an accounting estimate related to classes of transactions, account balances, and disclosures identified in SAS No. 143
• Recognize how inherent and control risks should be assessed in accordance with SAS No. 143
• Recognize an example of an inherent risk factor 
• Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates 
• Recall one of the amendments made to AU-C 501 by SAS No. 145  in connection with using the work of an external inventory-taking firm
• Identify some instances in which an auditor may conclude that a specialist’s work is not adequate 
• Identify a type of risk assessment procedure that an auditor can use in accordance with SAS No. 145
• Recall examples of risk assessment procedures that an auditor may perform in SAS No. 145
• Recognize how to perform risk assessment procedures when relying on information obtained from previous experience with an entity
• Identify examples of risk assessment procedures to obtain audit evidence in accordance with SAS No. 145
• Recognize a new requirement made by SAS No. 145 in connection with assessing inherent risk and control risk in an audit, and
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entity’s controls.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to inform the reader of the various changes made to the compilation and review standards by the AICPAs Accounting and Review Services Committee (ARSC) and to address practice issues related to compilation and review engagements.

The first section of this course consists of an overview of SSARS No. 21, as amended by SSARS Nos. 22 through 25, and addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

The remainder of the course consists of practice issues in compilation and review engagements. Topics include a discussion of an accountants responsibility for fraud, internal control and going concern, representation letters for review engagements, personal financial statements, tax-basis financial statements, legends on financial statements, accountants liability in compilation and review engagements, saving time in engagements, ethics and independence issues, and more. The focus of the course is to identify, recognize and recall the rules about various pronouncements, including those related to recent developments.

Learning Objectives:

After reading the course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21
• Recall whether the preparation of financial statements standard is an attest or non attest service
• Recognize the term that is assigned to engagements performed on the cash, tax, and regulatory bases of accounting
• Recognize a criterion for an accountant to perform a preparation engagement
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in a preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in the preparation of financial statements engagement
• Identify where to disclose GAAP departures in a preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for preparation of financial statements engagement under AR-C 70
• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Recall how an accountant should report when there is a lack of independence in a compilation engagement
• Identify who should sign a representation letter in a review engagement
• Recognize procedures that should be done when performing analytical procedures in a review engagement 5 Practice Issues- Compilation and Review Update 2022
• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework
• Identify the reporting options for controllers who seek to issue financial statements
• Recognize the accountants responsibility for reporting fraud in compilation and review engagements
• Identify the types of analytical procedures that can and cannot be used in a review engagement
• Recognize certain terms used as the basis for evaluating going concern in a review engagement
• Identify factors that may or may not suggest there is a potential going-concern problem in a compilation or review engagement
• Identify the period that defines reasonable period is going concerned
• Recognize the threshold to evaluate an Altman Z Score
• Identify an example of a deferred M-1 that is eliminated by tax-basis financial statements
• Recognize some of the general rules for tax-basis financial statements
• Identify the options available to report on supplementary information in a compilation or review engagement
• Recognize the general disclosure rules when issuing a compilation report on a specified element
• Identify when a management representation letter is required and some general rules about such letters
• Identify a prescribed form and the options for reporting on personal financial statements
• Identify examples of simpler reporting options to issuing GAAP financial statements
• Identify provisions to incorporate into engagement letters to protect the accountant against liability claims
• Recognize the privity standard as it relates to the accountants liability to third parties
• Recognize the general rules to maintain independence when an accountant performs non-attest services for an attested client
• Identify when independence is impaired in certain situations in which an accountant performs non attest services for an attest client

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements. Topics include expanding use of the disclaimer report in a preparation engagement, changes involving the reporting on the contractual basis of accounting, new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement, the new modified conclusions, guidance on going concerned in a review engagement, and more. The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement. This course uses materials entitled SSARS No. 25: Materiality in a Review of Financial Statements and Adverse Conclusions- 2023, authored by Steven C. Fustolo, CPA.

Learning Objectives:

After reading the course material, you will be able to:

• Identify engagement types that are (and are not) authorized under the SSARSs
• Recognize a precondition for an accountant to accept an SSARS engagement
• Identify what is required for an accountant to perform a preparation engagement
• Recall whether the preparation of financial statements standard is an attest or non-attest service
• Recognize whether an accountant and a client must sign an engagement letter for the preparation of financial statements engagement under AR-C 70
• Identify whether a report is required in the preparation of financial statements arrangement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Identify where to disclose GAAP departures in the preparation of financial statements engagement
• Recognize actions an accountant should take under SSARS No. 25 when a compilation is performed on the contractual basis of accounting
• Identify facts that the accountant should consider in determining materiality in a review engagement
• Identify the date on which management representations should be made in a management representation letter for a review engagement
• Recognize a change that SSARS No. 25 makes to the accountant’s review report
• Recall language that SSARS No. 25 requires to be included in a review report on the contractual basis of accounting.
• Identify the term that GAAP uses for management’s assessment of an entity’s going concern
• Recognize the reporting requirements for going concerned in a review engagement
• Recall some of the items that should be documented in a review engagement

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to inform the reader of the impacts the changes made by the Tax Cuts and Jobs Act have on GAAP and financial reporting.

Topics include:

• An analysis of adjustments required to be made to deferred income tax assets and liabilities
• Newly issued ASU 2018-02 related to the tax effect of accumulated other comprehensive income
• Accounting for the change from an S to a C corporation
• Impact of the elimination of like-kind exchanges
• GAAP accounting for bonus and Section 179 depreciation
• New limitations on interest deduction
• SEC SAB 118 transition rules
• Presenting the tax benefit of an NOL carryover, and more.

Learning Objectives:

After reading the course material, you will be able to:

• Recognize how an entity should account for deferred tax accounts under the Tax Cuts and Jobs Act
• Identify how the ASU 2018-02 election is made to reclassify the tax effect on accumulated other comprehensive income
• Recall the adjustment that is made when an entity converts from S to C corporation status
• Recognize the type of like-kind exchange that qualifies for nonrecognition of gain or loss under GAAP
• Identify a way in which an entity can account for bonus depreciation under GAAP.
• Recall the overall impact that the reduction in the corporate tax rate is having on SEC companies
• Recognize whether SEC companies are permitted to discount tax liabilities pertaining to repatriated income.
• Recall when an entity is required to disclose the tax years open for examination

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to discuss the general rules and applications used in the preparation of and reporting on tax-basis financial statements and other bases of accounting found within the special purpose frameworks (also referred to as other comprehensive bases of accounting). Topics include an overview of the types of special purpose frameworks, advantages, and disadvantages of using tax-basis financial statements, tax-basis accrual versus cash basis, reviewing the key differences between GAAP and tax-basis revenue and expenses and other differences, tax-basis disclosures, reporting options for tax-basis financial statements, unusual reporting and presentation issues related to tax-basis financial statements, an overview of other types of special purpose frameworks including pure cash basis, modified cash basis, regulatory basis, contractual basis, and the other basis of accounting, and more. The course also addresses the presentation and disclosures for PPP loans, Employee Retention Credit (ERC), the Pass-Through Entity (PTE) tax, and leases

Topics include:

• Using Tax-Basis Financial Statements for Engagement Profitability
• Scope of Tax-Basis Financial Statements
• Advantages and Disadvantages of Tax-Basis
• Key Differences Between Tax Basis and GAAP
  
• Financial Statement Formats
  
• Tax-Basis Disclosures
• Tax-Basis Reports
• Converting to Tax-Basis Financial Statements
• Unusual Practice Issues
• Other Special Purpose Frameworks

Learning Objectives:

After reading the course material, you will be able to:

• Identify an accounting standard that exempts non-public entities from its application
  
• Recall a disadvantage of the AICPA’s Financial Reporting Framework for SMEs
• Recognize the type of criteria on which the other basis of accounting is based
• Recall whether a one-member LLC is permitted to issue tax-basis financial statements
• Identify the best use for tax-basis accrual financial statements
• Recognize an example of a permanent difference
• Recall an example of a GAAP disclosure that can be eliminated by using tax-basis financial statements
• Identify a situation in which tax-basis financial statements might be misleading
• Recall ways in which nontaxable revenues and non-deductible expenses can be presented in tax-basis financial statements
• Recognize which type of exchange of assets no longer qualifies for like-kind treatment in tax-basis financial statements
• Recall how to account for the installment sales method under GAAP as compared with tax-basis financial statements.
• Recognize how an entity accounts for a change in accounting method on the tax basis of accounting
• Identify how to account for certain transactions on tax-basis financial statements
• Recognize whether supplementary information is part of the financial statements
• Identify titles that are appropriate and not appropriate for tax-basis financial statements
• Recall types of legends that might be included on pages of tax-basis financial statements
• Recall how a statement of cash flows should be accounted for and presented in tax-basis financial statements
• Recognize the rules for presenting a statement of comprehensive income in tax-basis financial statements
• Identify categories of disclosures that should be included in tax-basis financial statements
• Recognize elements that are and are not relevant to tax-basis financial statements in preparing a summary of significant accounting policies
• Recall how certain GAAP disclosures should be handled in tax-basis financial statements
• Recall how to account for the pass-through entity (PTE) tax under tax-basis financial statements.
• Recognize the reporting requirement for preparation and compilation of tax-basis financial statements engagements under SSARS Nos. 21-25
• Recall the appropriate title for a review report on tax-basis financial statements
• Identify certain language that should be included in an audit report on tax-basis financial statements
• Identify the reporting option when an entity changes from GAAP to tax-basis financial statements
• Recognize how an accountant should report on a grantor trust or one-member LLC
• Identify the disclosures that are required if an accountant issues a report on a tax return
• Recall the rules to issue a compilation report on a tax return
• Identify disclosures that are and are not relevant to cash-basis financial statements
• Recognize an element that would be made in a summary of significant accounting policies for the modified cash basis
• Identify other types of special purpose frameworks other than tax basis

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by SSARS No. 21 as amended by SSARS No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus
Statement on Standards for Accounting and Review Services- 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services- 2018, and SSARS No. 25, Materiality in a Review of Financial Statements and Adverse
Conclusions. The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

After reading the Sections I and II course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21

After reading the Section III course material, you will be able to:

• Recall whether the preparation of financial statements standard is an attest or non-attest service
• Recognize the term that is assigned to engagements performed on the cash, tax, and regulatory bases of accounting
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in the preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in the preparation of financial statements engagement
• Identify where to disclose GAAP departures in the preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for the preparation of financial statements engagement under AR-C 70

After reading the Section IV course material, you will be able to:

• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some of the safeguards that must be in place for an accountant to perform a non-attest service for an attest client
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Identify how an accountant should report on a disclaimer of supplementary information in a compilation engagement

After reading the Section V course material, you will be able to:

• Recognize the type of information on which an accountant may or may not perform a review engagement under AR-C 90
• Identify requirements to be satisfied to perform a review engagement under AR-C 90
• Identify the date on which management representations should be made in a management representation letter for a review engagement
• Recognize an appropriate title that can be used for a review report under SSARS No. 21
• Identify the order in which certain report paragraphs should be placed in the review report
• Recognize the definition of a reasonable period in evaluating the going concern
• Recognize how to report in a review engagement per SSARS No. 25, when there is or is not substantial doubt of an entity's ability to continue as a going concern
• Recall some of the items that should be documented in a review engagement

After reading the Section VI course material, you will be able to:

• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by SSARS No. 21 as amended by SSARS No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus
Statement on Standards for Accounting and Review Services- 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services- 2018, and SSARS No. 25, Materiality in a Review of Financial Statements and Adverse
Conclusions.

The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.

After reading the Sections I and II course material, you will be able to:

• Identify some of the changes in SSARS No. 21, as amended, that are and are not carried over from auditing standards
• Identify engagement types that are and are not authorized under SSARS No. 21

After reading the Section III course material, you will be able to:

• Recall whether the preparation of financial statements standard is an attest or nonattest service
• Recognize the term that is assigned to engagements performed on the cash, tax and regulatory bases of accounting
• Recall whether a preparation engagement under AR-C 70 is subject to peer review
• Identify whether a report is required in a preparation of financial statements engagement under AR-C 70
• Recognize what the reporting requirements are, if any, when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Recognize an acceptable location in which to place the description of a special purpose framework in a preparation of financial statements engagement
• Identify where to disclose GAAP departures in a preparation of financial statements engagement
• Recognize whether an accountant and a client must sign an engagement letter for a preparation of financial statements engagement under AR-C 70

After reading the Section IV course material, you will be able to:

• Recall the objective of a compilation engagement under AR-C 80 of SSARS No. 21
• Identify some of the safeguards that must be in place in order for an accountant to perform a nonattest service for an attest client
• Identify some procedures that must be performed in a compilation engagement under AR-C 80 of SSARS No. 21
• Recognize some of the changes made to the compilation report under SSARS No. 21 including those related to special purpose frameworks and GAAP departures, among others
• Identify how an accountant should report on a disclaimer of supplementary information in a compilation engagement

After reading the Section V course material, you will be able to:

• Recognize the type of information on which an accountant may or may not perform a review engagement under AR-C 90
• Identify requirements to be satisfied to perform a review engagement under AR-C 90
• Identify the date as of which management representations should be made in a management representation letter for a review engagement
• Recognize an appropriate title that can be used for a review report under SSARS No. 21
• Identify the order in which certain report paragraphs should be placed in the review report
• Recognize the definition of a reasonable period of time in evaluating going concern
• Recognize how to report in a review engagement per SSARS No. 25, when there is or is not substantial doubt of an entitys ability to continue as a going concern
• Recall some of the items that should be documented in a review engagement

After reading the Section VI course material, you will be able to:

• Identify one of the requirements in SSARS No. 24 when reporting on an international financial reporting framework

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The objective of this course is to address the new revenue standard in ASC 606, Revenue from Contracts with Customers, and its related updates, and guide nonpublic (private) entities that implemented the standard in 2020
and are continuing to experience post-implementation issues. Topics include an overview of the new standard and its core principle, an analysis of each of the five steps required in the revenue model, selected issues encompassing
principal versus agent considerations, dealing with warranties, bill-and-hold arrangements, and consignment transactions. The course also addresses how to account for contract costs, financial statement presentation of revenue-related
accounts, disclosures, and transition methods and guidance.

Learning Objectives:

After reading the course material, you will be able to:

• Identify an example of recognition of revenue prematurely
• Identify one of the five steps to apply the new revenue standard
• Recall a condition that must be met to identify a separate performance obligation
• Identify methods authorized to estimate variable consideration in a contract
• Recognize information that can be used to allocate the transaction price to performance obligations
• Identify two methods that are used to record revenue in Step 5 of the revenue standard
• Recognize how to account for the transfer of a product with a right to return
• Recognize the requirement that must be met for a company to be considered a principal in a revenue transaction
• Recall the general rule that determines whether an entity should record revenue gross or net
• Identify several types of warranties accounted for under the revenue standard
• Identify different types of intellectual property subject to the licensing rules in the revenue standard
• Recognize an example of a prepaid stored-value product
• Recall how an entity should account for breakage related to prepaid stored-value products
• Recall how certain contract costs are accounted for under the revenue standard
• Recognize certain disclosures required by the revenue standard for nonpublic entities, and
• Recall an applicable financial statement (AFS).

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

Corporations must file an income tax return following the guidelines developed by the IRS. Since GAAP and tax regulations differ in several ways, so frequently do pretax financial income and taxable income. Consequently, the amount that a company reports as a tax expense will vary from the amount of taxes payable to the IRS.

This course covers the basic guidelines companies must follow in reporting income taxes and the disclosure requirement associated with deferred taxes, reviewing some of the concepts and items discussed in ASC 740, Income Taxes.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

Corporations must file an income tax return following the guidelines developed by the IRS. Since GAAP and tax regulations differ in several ways, so frequently do pretax financial income and taxable income. Consequently, the amount
that a company reports as a tax expense will vary from the amount of taxes payable to the IRS.

This course covers the basic guidelines companies must follow in reporting income taxes and the disclosure requirement associated with deferred taxes, reviewing some of the concepts and items discussed in ASC 740, Income Taxes.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

The Business Combinations Topic provides guidance on the accounting and reporting for transactions that represent business combinations to be accounted for under the acquisition method (as described in paragraphs 805-10-05-4).

In addition, the Topic includes Subtopic 805-50, which provides guidance on transactions sometimes associated with business combinations but that do not meet the requirements to be accounted for as business combinations under the acquisition method.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

COURSE DESCRIPTION

The Business Combinations Topic provides guidance on the accounting and reporting for transactions that represent business combinations to be accounted for under the acquisition method (as described in paragraphs 805-10-05-4).

In addition, the Topic includes Subtopic 805-50, which provides guidance on transactions sometimes associated with business combinations but that do not meet the requirements to be accounted for as business combinations under the acquisition method.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:

*Content Preview

COURSE DESCRIPTION

Corporations must file an income tax return following the guidelines developed by the IRS. Since GAAP and tax regulations differ in a number of ways, so frequently do pretax financial income and taxable income. In consequence, the amount that a company reports as tax expense will differ from the amount of taxes payable to the IRS.

This course covers the basic guidelines that companies must follow in reporting income taxes and the disclosure requirement associated with deferred taxes, reviewing some of the concepts and items discussed in ASC 740, Income Taxes.

Who Should Attend:

• All Certified Public Accountants (CPAs)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships: