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

With the complexity of a fast-paced business environment and continued emphasis by regulators on preventing and detecting improper financial reporting, CPAs must remain current regarding the accounting guidance and regulations affecting
their daily functions and professional responsibilities.

This course will consider several areas of accounting and auditing guidance and resources. The FASBs Accounting Standards Codification is the source of U.S. GAAP to be applied to nongovernmental entities. The content and organization
of the Codification will be reviewed for CPAs to effectively access and research the proper accounting standards. The sections of the Sarbanes-Oxley Act addressing oversight, the Public Company Accounting Oversight Board and internal
controls over financial reporting will be reviewed along with the auditing standards issued by the PCAOB. The activities of the Private Company Council and the guidance issued by the Council will also be outlined.

Topics include:

• Accounting and auditing guidance and resources
• FASBs Accounting Standards Codification
• Sarbanes-Oxley Act

Learning Objectives:

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

• Recognize the importance of the internal control and corporate governance provisions of the Sarbanes-Oxley Act.
• Identify the reference format used in the FASBs Accounting Standards Codification.
• Identify the auditing standards issued by the PCAOB.
• Recognize the importance of the internal control and corporate governance provisions of the Sarbanes-Oxley Act.
• Identify the standard-setting process for private companies.

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

Risk management for accounting professionals begins with accepting engagements with clients and does not end until the date on which record retention requirements expire. Along the way, practitioners may encounter special cases in
which documentation of accounting information becomes more complex.

This course will provide an overview of engagement documentation and retention for various types of engagements.

Topics include:

• Chapter 1:  Overview of Engagement Documentation for Risk Management
• Chapter 2: Individual Client Engagements
• Chapter 3: Compilation Engagements
• Chapter 4: Review Engagements
• Chapter 5: Audit Engagements
• Chapter 6: Attestation and Litigation Engagements
• Chapter 7: Record Retention for Risk Management

Learning Objectives:

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

• List the key points to cover in welcome letters to which clients agree before an engagement begins;
• Recognize proper terminology about assurances and responsibilities of parties in compilation, review, and audit engagements;
• Identify types of specialized engagement letters that offer the best defensive terms in unusual or high-risk engagements;
• Recognize common pitfalls in the conduct of engagements with individual clients.
• Business clients requesting compilation, review, audit, attestation, and litigation support services; and
• Identify the types of regulatory and standards-setting bodies that impose record retention provisions for accounting.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

Electronic payments are fast becoming the preferred method of payment for best-practice companies. The COVID crisis shined a light on the inefficiencies of making paper payments. While many professionals were well aware that paper checks were expensive and used valuable human resources, this detail was often swept under the rug. With an increasingly remote workforce, feigning ignorance no longer works. Ss organizations recognize the cost-savings and efficiencies associated with ACH payment programs, they are starting to change. This will only continue with the introduction of Real-Time payments.

This course presents basic information the professional can use to properly set up and grow an ACH payment program, understand when to use more costly wire transfers and how to use Instant Payments. Industry expert Mary Schaeffer shows auditors, controllers, and managers exactly how to do this. She also alerts readers to the growing threat of fraud in this arena, offering advice for everyone – whether or not they are currently making electronic payments. “Everyone who does not take the proper precautions is at risk,” she warns.

Topics include:

• Chapter 1: How ACH Payments Work
• Chapter 2: How to Start an ACH Payment Program
• Chapter 3: How to Expand an ACH Payment Program
• Chapter 4: How to Protect Your Organization against ACH Fraud
• Chapter 5: ACH Best Practices, ‘Gotchas’ and Worst Practices
• Chapter 6: The Remittance Advice
• Chapter 7: Wire Transfers
• Chapter 8: Real-Time Payments (Instant Payments)

Learning Objectives:

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

• Identify the reasons why paying electronically benefits an organization
• Pinpoint issues to be considered when setting up an electronic payment program
• Create a basic ACH payment program for an organization
• Build an effective strategy for converting suppliers to the program
• Identify effective strategies to grow your ACH payment program
• Develop an effective method for converting suppliers to the program
• Understand the different types of payment fraud currently being perpetrated
• Develop an effective method to combat electronic payment fraud
• Develop a Best Practice ACH payment initiative
• Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
• Develop solutions to deliver remittance data to suppliers Understand how Instant Payments Work
• Develop a best practice approach to using wire transfers
• Identify instances where ACH payments can be used in place of costly wire transfers
• Understand the new Instant Payment offering from the Federal Reserve Banks, FedNow
• Develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account

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

This chapter sketches a profile of the generation represented by Americans born from 1946 through 1964: baby boomers. After an overview of how todays middle-aged Americans are changing the stereotypes of the work world, personal lifestyles,
and family home-life, this chapter explores the possible perhaps even probable financial and lifestyle shortfalls boomers may encounter. The causes of the boomers dilemma, which are explored in Chapter 2 are many, and the approaches
to prevent financial, emotional, and personal trauma will not be simple; Chapter 3 outlines the creative strategies this forceful generation will devise to deal with this first-ever long-lived, massive cohort. The Planning Resources
at the end of each chapter offer helpful websites and other sources of information vital for forging ahead with the second half of life.

Topics include:

• Chapter 1: Reasons to Plan
• Chapter 2: Boomer's Impending Financial Squeeze
• Chapter 3: Decisions, Decisions

Learning Objectives:

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

• List the educational, financial, and emotional aspects of the typical boomer in their planning for a productive and stable second half of life;
• Recognize the changes to the concept of careers and lifestyle brought about by womens entrance and ascension in the American workforce;
• Recognize the revised needs and priorities of boomers as they prepare for the second half of life; and
• Recognize the changes to the workplace, market, and service sector instituted by the surge of older Americans in our culture.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course is an overview of basic fringe benefits and examines their mechanics, compensation methods, valuation, withholding, and accounting. Achievement awards, term life insurance, medical reimbursement, meals and lodging, educational
assistance, dependent care, employer-provided automobiles, interest-free loans, etc. are identified. Employer and employee economic and tax considerations are recognized. Fringe benefit requirements and limits are specified and
ERISA compliance requirements are determined.

Learning Objectives:

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

• Recognize basic fringe benefit planning by determining income under 61, and identify the differences between former nonstatutory and current statutory fringe benefits created by recent cases, rulings, and tax law changes.
• Specify the mechanics of typical fringe benefits, determine the fair market value of a fringe benefit under the general valuation rule or the special valuation rules, and identify the general accounting rule and the special two-month
  pour-over accounting rule.
• Identify an employee achievement award under 274, and recognize the rules for group term life insurance under 79 stating how to implement proper coverage.
• Determine the mechanics of self-insured medical reimbursement plans under 105, and specify the requirements of medical insurance under 106 identifying differences.
• Identify the rules for excluding the value of meals and lodging under 119, and cafeteria plans and how they operate.
• Recognize the requirements and limits of employee educational assistance programs and dependent care assistance specifying how to obtain each type of assistance.
• Identify no-additional-cost services and determine what property or services are excludable from income as qualified employee discounts under 132(c), and specify exceptions to working condition fringes and de minimis fringes.
• Determine the requirements for qualified transportation fringe benefits under 132(f), specify valuation methods for employer-provided automobiles, and identify the qualifications for the popular physical fitness exclusion, and
  the requirements and benefits of adoption assistance programs.
• Recognize planning services available under 132, 212, and 67, determine interest-free and below-market loans, identify child care benefits and corporate-funded educational savings accounts, specify S corporation fringe benefits,
  and identify ERISA compliance requirements.

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

Best practices for the accounts payable function are critical for those organizations concerned about their profitability. For poor practices result in excess cost, duplicate payments, increased processing expenses, fraud, and frayed
vendor relationships. And, of course, there is the growing issue of regulatory compliance as the Feds and states look for their fair share.

This course presents information the professional can use to identify best practice problems as well as regulatory concerns. Industry expert Mary Schaeffer explains the issues related to the accounts payable function to auditors,
controllers, and managers. She then reveals the best practices for a myriad of these issues as well as identifying almost best practices for those cases where it is not possible to use the best practice and the worst practices
which are likely to cause trouble.

Topics include:

• Chapter 1: Managing the AP Function
• Chapter 2: Master Vendor File
• Chapter 3: Invoice Processing
• Chapter 4: Invoice Problems
• Chapter 5: Checks
• Chapter 6: ACH (Electronic Payments)
• and much more to cover.... through Chapters 7-22

Learning Objectives:

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

• Establish strong master vendor file practices
• Incorporate appropriate segregation of duties into master vendor file process
• Create effective invoice receipt practices
• Construct best practice invoice handling routines
• Define effective practices when short-paying invoices
• Establish a process for managing discrepant invoices
• Design a suitable process for storing check stock
• Understand the benefit of paying electronically
• Develop a process to weed out fraudulent change of bank account requests
• Develop strong controls in a p-card program
• Identify ways to pay small-dollar invoices without issuing a check
• Identify lost funds through an effective supplier statement review policy
• Integrate the concept of segregation of duties across the payment process
• Uncover practices that will eliminate weak control points
• Understand the importance of having a separate computer for online banking
• Integrate check fraud prevention practices into the accounts payable process
• Create a strong travel and entertainment policy the is compliant with IRS guidelines for the entire organizations
• Develop policies for handling travel issues created when employees leave
• Understand what is required for information reporting to the IRS for independent contractors
• Integrate the use of IRS TIN Matching into the new vendor setup function
• Create a policy that will enable the organization to report and remit unclaimed property in all instances
• Incorporate regular OFAC checking into the payment process to ensure payments are not made to terrorists
• Identify potential situations where payment may actually be a bribe to a foreign official in conflict with FCPA regulations
• Understand how payment timing can both help and hurt the organization
• Create procedures to ensure all early payment discounts are earned

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This mini-course describes and compares sole proprietorships, partnerships, limited liability companies, C corporations, and S corporations. It examines their advantages and disadvantages, permitting the participant to properly select
the right business entity for their tax and liability needs.

Learning Objectives:

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

• Cite the central differences among business entities and the advantages and disadvantages associated with basic business entity types
• Recognize the tax attributes of sole proprietorships, partnerships, LLCs, S corporations, and C corporations and how each entity can be used to enhance tax and financial purposes and objectives
• Specify the unique (e.g., self-employment) and general taxes applicable to particular entities and the tax forms that may be required
• Identify the basic deductions that are permissible for each entity type and the conditions under which they are allowed
• Determine the tax years, accounting methods, and valuation methods that each entity type may use, and how the entities can be terminated
• Specify for different entity types the basis and the tax effect of sales, exchanges, transfers, contributions, and distributions.

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

Climate change and sustainability are topics that are increasingly on the minds of investors and other stakeholders. Companies are increasingly subject to nonfinancial reporting requirements relating to environmental, social, and governance
factors. For example, sustainability reporting requirements are increasingly impacting the investment and lending activities of global financial institutions. Investors now expect businesses to frame decisions in terms of environmental,
social, and human impact for the long-term, rather than on short-term gains such as next quarter's earnings report. This course reviews the prevailing sustainability reporting and non-financial reporting frameworks.

This course also reviews the accounting for climate change risks under the U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS). While these Standards do not cover climate change
risks and other emerging risks explicitly, they do address issues that relate to them. This course reviews the application of those Standards and the related guidance on materiality to climate and other emerging risks.

Topics Covered:

• CHAPTER 1 CLIMATE CHANGE AND THE ECONOMY
• CHAPTER 2 SUSTAINABILITY DISCLOSURES
• CHAPTER 3 CLIMATE CHANGE ACCOUNTING

Learning Objectives:

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

• Identify the potential economic impacts and financial risks of climate change.
• Recognize disclosure practices that are consistent with leading sustainability reporting frameworks.
• Identify areas of accounting and financial statement disclosures that are impacted by climate-related and other emerging risks.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity.
The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental
audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories
of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. Finally, this course will identify the ethical principles that guide the work of auditors who conduct engagements
in accordance with GAGAS.

Topics include:

• Chapter 1: Foundation and Principles for the Use and Application of Government Auditing Standards
• Chapter 2: General Requirements for Complying with Government Auditing Standards
• Chapter 3: Ethics, Independence, and Professional Judgment
• Chapter 4: Competence and Continuing Professional Education

Learning Objectives:

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

• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work,
• Recognize the types of engagements that may be conducted in accordance with GAGAS, and
• Identify terminology that is commonly used in GAGAS.
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.
• Identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS.
• Recognize the purpose of applying the GAGAS Conceptual Framework.
• Recognize that action that must be taken by auditors if they conclude that the independence of the engagement team or the audit organization is impaired.
• Identify the individuals that have a role in an audit engagement.
• Identify the number of CPE hours that must be completed in a 2-year period in order to maintain their professional competence.
• Recognize the requirements related to specialists using during an audit.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

As the primary agency investigating corporate fraud, the FBI has focused its efforts on cases which involve accounting schemes, self-dealing by corporate employees, and obstruction of justice to conceal fraudulent activities from criminal
and regulatory authorities.

This course will review the efforts being made by the FBI and several other federal corporate crime busting governmental bodies within the United States to prevent fraud.

Topics include:

• The President of the United States
• Sarbanes Oxley Act of 2002 (SOX)
• The Security and  Exchange Commission (SEC)
• The Fraud Section of the Dept. of Justice
• F.B.I
• Office of the Chief Accountant
• The Association of the Certified Fraud Examiners (ACFE)
• The American Institute of CPA (AICPA)
• SAS 99

Learning Objectives:

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

• Recognize some of the major organizations who have been working diligently to eliminate corporate fraud in the U.S.
  
• Recognize the national statistics regarding corporate fraud in the United States.
• List the general characteristics of the people who are most likely to commit fraud and how to better identify them as well as the most common types of fraudulent activities which are occurring in corporations today.
• List the various types of schemes used to perpetrate misstatements on the financial statements and misappropriation of assets.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

Security experts estimate that as many as 30 percent of all employees do steal and that another 60 percent will steal if given sufficient motive and opportunity. The current economic hard times only add to the temptation of personnel
to take what does not belong to them. This means that it is estimated that only 10 percent of employees will not steal under any circumstances.

The least expensive way to fight corporate fraud within your organization or those of your clients is to be aware of the statistics surrounding its occurrence and then use that knowledge to put processes and procedures into place which
will aid in preventing its occurrence. In this course, you will be provided with several statistics which should help you meet this goal.

Following the statistical analysis, you will be provided with the ACFE Fraud Prevention Check-up in order to assess the vulnerability of your organization or those of your clients to corporate fraud.

Topics include:

• Why Should We Be Aware of Statistics?
• F.B.I.
• Corporate Fraud Task Force
• S.E.C.
• The Association of Certified Fraud Examiners
• How Vulnerable is your Corporation or Clients?

Learning Objectives:

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

• Recognize the financial cost of fraud.
• Recognize the most common method in which fraud is reported according to ACFE statistical studies.
• Recognize why fraud is not always reported by executives and the chief reasons why even CPAs do not always want to participate with law enforcement officers while investigating a fraud incident.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course examines and explains the basics of corporate taxation. The focus is on regular or C corporations, their formation, and their operation under tax law. The advantages and disadvantages of corporations are examined; incorporation
and capitalization issues are discussed; and, basic tax rates and specialty taxes are reviewed. The tax treatment of operational expenses and deductions is outlined, and accounting periods and methods are explored. Finally, the
dangers of multiple corporations and corporate distributions are highlighted

Learning Objectives:

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

• Recognize regular corporation elements, specify their advantages and disadvantages specifying tax treatment, and determine how to distinguish them from PSC corporations
• Identify 351 requirements for tax-free incorporation, recognize the impact of the transfer of money, property, or both by prospective shareholders, and determine the availability of 1244 for stock losses and 195 for amortization
  of start-up expenditures
• Recognize the repeal of the corporate alternative minimum, specify the corporate tax consequences of capital gains and losses, and recognize ways to avert the accumulated earnings trap by identifying the potential use of the accumulated
  earnings credit
• Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions

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 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

Travel expenses are, for many organizations, their second-largest controllable expense. This is just one of the reasons why every organization must have a strong policy that governs these expenditures. That being said, the number of
problems that continue to plague many companies when it comes to expense reimbursements defies logic. There has to be a better way.

In this course, industry expert Mary Schaeffer takes a look at some of the more common problems experienced by companies related to employees, expense reimbursement requests. She not only identifies the issues, but offers solutions
on how best-practice companies minimize these problems and, in some cases, eliminate them.

Learning Objectives:

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

• Create processes for dealing with illegible receipts
• Develop a policy for dealing with reimbursement requests for items clearly not covered in the policy
• Identify strategies for dealing with managers who take too long to approve employees expense reimbursement requests
• Create practices to deal with conflicts around the reimbursement process
• Pinpoint areas employees are most likely to cheat on their expense reports

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

This mini-course brings the practitioner information on tax issues affecting interest and debt. The various types of interest and their required allocation are explored and reviewed. For the economically troubled client, special attention
is devoted to debt cancellation, repossession, discounts, and foreclosure. The program also discusses installment sales, taxable interest, and bad debts.

Learning Objectives:

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

• Determine what constitutes interest specifying its key components, and identify whether the various types of interest are tax-deductible or nondeductible
• Recognize how to deduct interest that is paid or accrued during the tax year by applying different methods of accounting, specify the applicable federal rate, recognize the effects of unstated interest on transactions, and cite the
  imputed interest rules in the context of debt instruments
• Identify the interest allocation rules and the allocation period for a loan, recognize the difference between an allocation of loan proceeds that are deposited in an account and the allocation of loan proceeds received in cash,
  and cite loan repayments in the order they are deemed repaid
• Determine when certain distributions commonly referred to as "dividends" are interest and the tax treatment of interest that is earned on such items as income on frozen deposits and U.S. Savings Bonds
• Recognize an installment sale transaction, determine what constitutes the installment method, specify the parts of each payment on an installment sale, and cite the related party sales rules of 453
• Identify exceptions to the general income inclusion rule and their effect on a taxpayer, and determine the different effects of nonrecourse indebtedness from the effects of recourse indebtedness on foreclosure
• Specify bad debt categories specifying the impact of nonbusiness bad debt recovery, identify when a business deducts its bad debts from gross income, and recognize which accounting method to apply to business bad debts.

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

A derivative is a financial product that derives its value based on an underlying asset, liability, or other variables (such as an interest rate, foreign currency, or commodity price). Derivatives have become very popular tools for
“hedging” (i.e. reducing) financial risk; they have also become an increasingly standard item on big companies' balance sheets. Yet understanding how they work, what they are used for, and how they can affect the bottom line of
business has proven to be a significant challenge for the accounting and auditing industries.

Topics include:

• This course provides an accountant-friendly overview of financial risk management and derivative instruments.
• This overview focuses on the various types of risks that impact financial markets today, as well as the four major categories of derivatives commonly used to hedge these risks (i.e. forwards, futures, swaps, and options).

Learning Objectives:

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

• Define the various types of risks that impact financial markets.
• Identify the unique characteristics of forwards, futures, swaps, and options.
• Recognize appropriate hedging practices using derivative instruments.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Economic indicators are those often-voluminous statistics released by government agencies, non-profit organizations, and even private companies. They provide measurements for evaluating the health of our economy, including the latest
business cycles, consumer spending, inflation, housing, and so on. Various economic indicators are released quarterly, monthly, weekly, and even daily.

This course provides an introductory overview of the worlds most prevalent economic indicators, including those related to unemployment, consumer sentiment and confidence, inflation, productivity, housing, manufacturing, and international
trade. This course reviews the impact that changes in these indicators have on the financial markets and monetary policy.

Topics include:

• Chapter 1 Economic Indicators and Business Cycles
• Chapter 2 Financial Markets and Interest Rates
• Chapter 3 GDP and Monthly Indicators
• Chapter 4 Federal Reserve and Monetary Indicators
• Chapter 5 Unemployment and Consumer Indicators
• Chapter 6 Inflation and Productivity Indicators
• Chapter 7 Industrial and Commercial Indicators
• Chapter 8 International Trade Indicators

Learning Objectives:

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

• Identify the types of economic indicators that exist and recognize the unique characteristics of each type.
• Recognize the characteristics and economic impact of key economic indicators, including those related to unemployment, consumer sentiment and confidence, inflation, productivity, housing, manufacturing, and international trade.
• Identify the components of gross domestic product (GDP) and recognize how economic indicators impact these components.
• Recognize how changes in economic indicators and the actions of the Federal Reserve impact financial market activity.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Technology is making a huge impact on every facet of the business world. The expense reporting function is no exception. It is making it easier for employees to play games but at the same time, it provides companies the tools they
need to identify that game playing without spending a fortune.

Topics include:

• This course takes a deep dive into the developing expense reporting issues and reveals the way savvy companies can effectively deal with them.
• The issues evaluated in this course are critical to those who want to run a cost-effective, efficient, fraud-resistant expense reimbursement function.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

An exchange-traded fund (ETF) is a basket of securities designed to replicate the performance of a stock or bond index (e.g., S and P 500 Index or Lehman Brothers 20+ Years. Treasury Index.) ETFs are listed on an exchange, and unlike regular open-end mutual funds, ETFs can be bought and sold throughout the trading day. They can also be sold short and bought on margin. In brief, anything you might do with a stock, you can do with an ETF. Most ETFs also charge lower annual expenses than even the least costly index mutual funds. However, as with stocks, investors must pay a commission to buy and sell ETF shares.

In contrast to most mutual funds, ETFs have no investment minimums. Investors can literally buy a single share of an ETF in the secondary market through their broker (an online broker or the traditional type).

All the above features have led to the rapid growth of ETFs since the first offering came to fruition in 1993. An increasing number of financial professionals, including CPAs, are turning their attention to this unique breed of investment products. As such, this course will provide you with a thorough understanding of exchange-traded funds.

Topics include:

• As such, this course will provide you with a thorough understanding of exchange-traded funds.
• We will cover the manner in which ETFs are created and offered to investors.
• We will take a more comprehensive look at the key features of ETFs and how they stack up to comparable products, such as index mutual funds, including in such areas as tax advantages.
• We will also feature some of the biggest, as well as the most popular, ETF offerings and the companies that offer them.
• Most importantly, we will provide you with information on useful tools and resources, which you can use to further research and utilize exchange-traded funds in your practice.

Learning Objectives:

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

• Recognize the evolution of ETFs.
• Identify the key advantages and drawbacks to investors of ETFs.
• Recognize the most notable ETFs on the market.
• Identify the resources that you can utilize to incorporate ETFs into your practice.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Numerous FASB Standards have been issued requiring certain items to be measured and reported at “fair value” on the Balance Sheet. Prior to the release of ASC 820 Fair Value Measurements and Disclosures (formerly known as SFAS 157), the concept of fair value had never been formally defined in U.S. accounting literature. Since its issuance in September 2006, ASC 820 has become one of the most controversial accounting standards ever released.

This course provides a conceptual review of fair value accounting, as outlined in ASC 820 and other U.S. accounting standards. This course will also provide an overview of the authoritative guidance for auditing fair value measurements and disclosures, SAS No. 101.

Topics include:

• Chapter 1: THE EVOLUTION OF FAIR VALUE
• Chapter 2: MEASUREMENT
• Chapter 3: VALUATION TECHNIQUES AND INPUTS
• Chapter 4: AUDITING FAIR VALUE MEASUREMENTS AND DISCLOSURES
• Chapter 5: THE FAIR VALUE OPTIONS
• Chapter 6: THE FAIR VALUE CONTROVERSY

Learning Objectives:

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

• Define ‘fair value’ and explain the fair value framework and hierarchy included in ASC 820 Fair Value Measurements and Disclosures.
• Identify the roles that management and the auditor have in the fair value measurement process.
• Recognize the key aspects of the fair value option.
• Recognize the limitations of fair value accounting.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Learning Objectives:

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

• Identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
• Recognize the five components of internal control.
• Identify conditions that indicate a heightened risk of fraud.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Financial markets represent the lifeblood of our global economy. These mechanisms promote greater economic efficiency by transferring funds from individuals, businesses, and governments with an excess of available funds to those with a shortage. Funds are transferred in the financial markets through the purchase and sale of financial instruments (such as stocks and bonds). Short-term financial instruments are available in money markets, while longer-term financial instruments are purchased and sold in the worlds capital markets.

Many financial markets have been in existence for hundreds of years; however, the modern era has brought along many new innovations such as securitization and the derivatives market.

Topics include:

• This course provides an introductory overview of the worlds largest financial markets, including the money, bond, stock, mortgage, foreign currency, and derivatives markets.
• This course reviews the various types of financial risks that impact these markets, as well as the economic variables that influence market activity (such as interest rates and monetary policy).

Learning Objectives:

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

• Identify the unique characteristics of financial markets.
• Recognize the types of financial instruments traded in financial markets.
• Recognize how economic variables (such as interest rates and monetary policy) and financial risks impact financial market activity.

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

If you are working in the forensic accounting field at some time in your career it may be necessary to search for hidden assets. This course is designed to review why people hide assets and how they commonly hide them. We will discuss the methods for searching for hidden assets as part of a forensic accounting engagement and how to confiscate the assets once they are located. We will also review some of the legal issues involved with searching for and seizing assets.

This course is appropriate for CPAs, CFEs, external auditors, internal auditors, CIAs, forensic accounts, CFFs, MAFFs, law enforcement personnel, and others who might be involved in searching for hidden assets.

Learning Objectives:

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

• Identify methods for finding hidden assets
• Identify methods for finding hidden income

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

As fraud has evolved over the years the controls and procedures to prevent and detect fraud have also evolved. This course will consider the significant impact of fraud and the measures that have occurred to address fraud, particularly white-collar crime. The United States government's response to events and situations involving fraudulent activity will be looked at along with the consequences for committing fraud.

Topics include:

• The effectiveness of an organizations internal control system plays an important role in fraud.
• The recently updated Internal Control-Integrated Framework provides valuable information for organizations of all sizes to consider sound actions to deter and detect fraud.
• Examples of fraud risks will be reviewed along with steps that can be implemented as part of an anti-fraud program.

Learning Objectives:

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

• Recognize the impact of fraud.
• Identify government actions taken to address fraud.
• Identify the components of internal control.
• Recognize the fraud risk assessment process.
• Recognize fraud risk factors.
• Identify controls that address the risk of fraud.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Understanding the fundamentals of the accounts payable function is critical for any organization that wants to run an effective and efficient accounts payable function. Without this understanding, weak processes are permitted making fraud easier to commit. Duplicate payments increase and the function is not cost-effective.

This course presents information the professional can use to create a strong process and implement an effective function.

Industry expert Mary Schaeffer shows auditors, controllers, and managers how proper processes in the accounts payable function strengthen controls and lead to efficient and effective accounts payable function.

Topics include:

• Chapter 1: The Foundation of the Accounts Payable Function
• Chapter 2: Master Vendor File: Where the Process Should Begin
• Chapter 3: Invoice Processing: The Reason Accounts Payable Exists
• Chapter 4: Checks: The Original (and Least Efficient) Payment Vehicle
• Chapter 5: Purchase Cards: Streamlining the Payment Process for Small Purchases
• Chapter 6: Electronic Payments: The Most Efficient Payment Vehicle
• Chapter 7: Operational Issues: Invoice Handling and Processing
• Chapter 8: Operational Issues: Payments
• Chapter 9: Inaccurate Payments and Payment Auditing
• Chapter 10: Expense Reimbursement (Travel & Entertainment)
• Chapter 11: Check and P-card Payment Fraud: Detection and Prevention
• Chapter 12: Electronic Payment Fraud Detection and Prevention
• Chapter 13: Fraud: Other Types Affecting the Account Payable Function
• Chapter 14: The Accounts Payable Policy and Procedures Manual
• Chapter 15: Regulatory Issues Affecting the AP Function: A Lot More than Just 1099s
• Chapter 16: Using Technology to Run a More Efficient Accounts Payable Function
• Chapter 17: Internal Controls: The Glue that Holds a Best Practice Function Together
• Chapter 18: Enhancing Operational Productivity in Accounts Payable: The Ongoing Challenge
• Chapter 19: Enhancing Payment Productivity: The Electronic Payment Challenge
• Chapter 20: Enhancing the Bottom Line: Where AP Can Bring in Cash
• Chapter 21: Vendor Relations: An Often-Overlooked Issue
• Chapter 22: The Future of the Accounts Payable Function

Learning Objectives:

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

• Understand why setting up the accounts payable function correctly is important
• Detect potential problems when payments are made outside accounts payable
• Build an effective naming convention
• Delineate an effective process for entering data in the master vendor file
• Establish effective controls around the master vendor file
• Create an effective process for the receipt of invoices
• Identify duplicate invoices
• Construct new procedures for emailed invoices
• Understand and identify the problems associated with paper checks
• Reduce the number of paper checks
• Build programs that will eliminate (or partially eliminate) paper checks
• Create an effective p-card policy
• Identify and eliminate common p-card complications
• Craft an employee responsibility agreement for use of p-cards
• Craft an electronic payment expansion program
• Produce procedures for dealing with discrepant invoices
• Identify duplicate invoices
• Craft an effective process for dealing with invoices without a PO number or name of the requisitioner
• Construct strong processes to avoid returning checks to requisitioners and issuing rush checks
• Eliminate all late fees
• Execute best practices when hiring a recovery firm
• Implement a travel policy that conforms to IRS guidelines
• Assemble a spot-checking policy for expense receipts
• Set reasonable reimbursement practices
• Use positive pay correctly
• Implement policies that deter p-card fraud
• Pinpoint misconceptions that deter proper fraud protection
• Employ best practices to prevent ACH and wire fraud
• Create a policy to deal with the BYOD issue
• Create an effective policy and procedures manual
• Establish a policy for updating the accounts payable policy and procedures manual on a regular basis
• Develop effective procedures for handling information reporting requirements related to accounts payable (1099)
• Establish procedures for checking for bribery violations
• Integrate low-cost technology to create a more efficient accounts payable process
• Incorporate appropriate segregation of duties into your accounts payable

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

Most companies have at least a few customers who dont pay them on time. Unfortunately, for some, the problem is worse. They have many customers who dont pay them as quickly as they'd like. While it is definitely true that some of these organizations purposely drag their feet when it comes to the timing of payments, that is not always the case. In fact, many times the delay is due to something the supplier did (or didnt do) during the billing process. These are simple practices that could be easily rectified. This course contains the standard best practices every organization should use when trying to get paid on time as well as a look at the common mistakes that end in delaying payments. The information on these inopportune slip-ups comes from interviews with accounts payable professionals who shared their frustrations over these easily fixable oversights.

Learning Objectives:

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

• Identify common mistakes in your billing process that delay payments
• Create a clean billing process that produces error-free invoices
• Build an effective strategy ensuring you have all needed information on your invoices
• Pinpoint practices that unintentionally cause delays in payment
• Develop an effective strategy for creating a better relationship with the personnel at your customers who are responsible for making payments

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity.
The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits.

Topics include:

• The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.
• This course will describe when the Yellow Book standards must be applied.
• This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work.
• This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.

Learning Objectives:

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

• Recognize when the Yellow Book standards must be applied.
• Identify the new organization and format of the 2018 Yellow Book.
• Recognize the five areas that changed in the 2018 Yellow Book from the 2011 Yellow Book.
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

Topics include:

• This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work.
• This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.
• This course will identify the requirements for auditor communication.
• This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
• Finally, this course will describe what must be included and what must be excluded from an audit report.

Learning Objectives:

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

• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work,
• Recognize the types of engagements that may be conducted in accordance with GAGAS, and
• Identify terminology that is commonly used in GAGAS.
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.
• Identify the requirements for auditor communication.
• Recognize the items that an auditor should include in the report on internal control and compliance.
• Identify what an auditor must-do if certain information is prohibited from public disclosure or is excluded from a report because of its confidential or sensitive nature.
• Recognize what an auditor must do when Obtaining and Reporting the Views of Responsible Officials.
• Identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
• Recognize the five components of internal control.
• Identify conditions that indicate a heightened risk of fraud.
• Recognize what must be included and what must be excluded from the audit report.
• Identify the requirements when reporting on instances of fraud.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the requirements for auditor communication. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Topics include:

• Chapter 1: Foundation and Principles for the Use and Application of Government Auditing Standards
• Chapter 2: General Requirements for Complying with Government Auditing Standards
• Chapter 3: Standards for Financial Audits
• Chapter 4: Fieldwork Standards for Performance Audits
• Chapter 5: Reporting Standards for Performance Audits

Learning Objectives:

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

• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work,
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.
• Recognize the items that an auditor should include in the report on internal control and compliance.
• Identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS.
• Recognize what must be included and what must be excluded from the audit report.
• Identify the requirements when reporting on instances of fraud.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role in an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organizations work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Topics include:

• Chapter 1: Foundation and Principles for the Use and Application of Government Auditing Standard
• Chapter 2: General Requirements for Complying with Government Auditing Standards
• Chapter 3: Ethics, Independence, and Professional Judgment
• Chapter 4: Competence and Continuing Professional Education
• Chapter 5: Quality Control and Peer Review
• Chapter 6: Standards for Financial Audits
• Chapter 7: Standards for Attestation Engagements and Reviews of Financial Statements
• Chapter 8: Fieldwork Standards for Performance Audits
• Chapter 9: Reporting Standards for Performance Audits

Learning Objectives:

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

• Identify the types of auditors and audit organizations that may employ GAGAS to conduct their work.
• Identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations.
• Recognize that action that must be taken by auditors if they conclude that the independence of the engagement team or the audit organization is impaired.
• Identify the number of CPE hours that must be completed in a 2-year period in order to maintain their professional competence.
• Recognized the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organizations work competently.
• Identify what an auditor must-do if certain information is prohibited from public disclosure or is excluded from a report because of its confidential or sensitive nature.
• Identify the three levels of service as defined by the AICPA.
• Recognize the five components of internal control.
• Recognize what must be included and what must be excluded from the audit report.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course is designed for individuals who would like to obtain a basic understanding of identity theft. We will discuss various types of identity theft and how criminals gain access to personal information and commit fraud. We will review some of the legal and ethical implications involved. Examples of real-world cases will be provided to help develop an understanding of the risks involved. We will review steps that can be taken to help prevent identity
theft.

Topics include:

• Fake checks/currency
• Types of frauds
• Detecting frauds
• Preventing frauds

Learning Objectives:

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

• Define identity theft.
• Identify different identity theft fraud schemes.
• Identify how criminals gather information.
• Describe how to report identity theft.
• Describe how to prevent and detect identity theft.

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

International Financial Reporting Standards (IFRS) represent the international alternative to the U.S. Generally Accepted Accounting Principles. Most of the world already communicates with investors and stakeholders about corporate GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible.

Topics include:

• This course provides an introductory overview of International Financial Reporting Standards, including detailed discussions of the impact of adopting IFRS on businesses.
• This course also includes comprehensive reviews of the IASB structure and its standard-setting process, the basic framework that serves as the foundation for IFRS, and the differences that exist between U.S. GAAP and IFRS.

Learning Objectives:

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

• Define IFRS and recognize practices consistent with the due process followed when developing and issuing IFRS.
• Recognize the basic concepts by which financial statements are prepared under IFRS.
• Identify the primary differences between IFRS and U.S. GAAP and the efforts by the IASB and the FASB to eliminate these differences.
• Recognize the costs and benefits associated with adopting IFRS.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 1 of the IFRS Learning Module series provides a deep dive into the principles governing the presentation of financial statements under IFRS. This includes a review of the IASBs Framework, which addresses the concepts underlying the information presented in IFRS financial statements. It also includes detailed discussions of the IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows. Finally, this course provides an in-depth look at the joint IASB/FASB project that will result in sweeping changes to financial statement presentation in the near future.

Topics include:

• Chapter 1: FRAMEWORK FOR THE PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS
• Chapter 2: INTRODUCTION TO IAS 1
• Chapter 3: IFRS FINANCIAL STATEMENTS
• Chapter 4: IASB and FASB JOINT PROJECT
• Chapter 5: Module Summary

Learning Objectives:

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

• Identify financial reports that are within the scope of the IASB Framework.
• Recognize practices that are consistent with the underlying assumptions and qualitative characteristics of financial statements prepared in accordance with the IASB Framework.
• Describe the characteristics of general purpose financial statements required under IFRS.
• Identify and classify the various elements of IFRS financial statements.
• Describe the IASB/FASB joint project on financial statement presentation and its impact on financial reporting.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 2 of the IFRS Learning Module series presents an overview of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and discusses the IASBs and FASBs efforts towards achieving convergence in these areas of financial reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IAS 8
• Chapter 2: ACCOUNTING POLICIES
• Chapter 3: ACCOUNTING ESTIMATES
• Chapter 4: ACCOUNTING ERRORS
• Chapter 5: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Properly classify accounting changes (i.e. changes in accounting policy, changes in accounting estimates, and error corrections) per the guidelines of IAS 8.
• Describe the recognition and disclosure requirements for each type of accounting change under IAS 8.
• Describe the similarities and differences between IFRS and U.S. GAAP in the area of accounting changes.

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

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 3 of the IFRS Learning Module series presents an overview of IAS 10 Events after the Reporting Period (a topic commonly referred to as subsequent events under U.S. GAAP) and discusses the IASBs and FASBs efforts towards achieving convergence in this area of financial reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IAS 10
• Chapter 2: RECOGNITION AND MEASUREMENT
• Chapter 3: GOING CONCERN
• Chapter 4: DISCLOSURES
• Chapter 5: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Define events after the reporting period per the guidelines of IAS 10.
• Describe the recognition and disclosure requirements for events after the reporting period under IAS 10.
• Describe the similarities and differences between IFRS and U.S. GAAP in the area of events after the reporting period (a.k.a. subsequent events).

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 4 of the IFRS Learning Module series presents an overview of IAS 2 Inventories, the accounting standard for classifying and measuring inventories in IFRS financial statements. This module also discusses the IASBs and FASBs efforts towards achieving convergence in this area of financial reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IAS 2
• Chapter 2: INVENTORY CLASSIFICATIONS
• Chapter 3: INVENTORY SYSTEMS
• Chapter 4: MEASUREMENT OF INVENTORIES (PART 1)
• Chapter 5: MEASUREMENT OF INVENTORIES (PART 2)
• Chapter 6: MEASUREMENT OF INVENTORIES (PART 3)
• Chapter 7: DISCLOSURES
• Chapter 8: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Identify major classifications of inventory.
• Distinguish between perpetual and periodic inventory systems.
• Describe the items to include as inventory cost.
• Describe and compare the formulas used to measure inventories in IFRS financial statements.
• Explain when reporting entities measure inventories at a net realizable value in IFRS financial statements.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 5 of the IFRS Learning Module series presents an overview of IFRS 8 Operating Segments; this overview includes a detailed discussion of the processes for identifying, aggregating, and reporting operating segments in IFRS financial statements. The course also discusses the IASBs and FASBs efforts towards achieving convergence in segment reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IFRS 8
• Chapter 2: IDENTIFYING OPERATING SEGMENTS
• Chapter 3: IDENTIFYING AND AGGREGATING REPORTABLE SEGMENTS
• Chapter 4: DISCLOSURES (SEGMENT)
• Chapter 5: DISCLOSURES (ENTITY-WIDE)
• Chapter 6: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Explains the process for identifying operating segments under IFRS 8.
• Identify reportable segments based on the guidelines and quantitative thresholds provided in IFRS 8.
• Describe the disclosure requirements of IFRS 8.
• Describe the similarities and differences between IFRS and U.S. GAAP in the area of segment reporting.

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

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 6 of the IFRS Learning Module series presents an overview of IAS 33 Earnings per Share; this overview includes a detailed discussion of the processes for calculating and reporting earnings per share measurements in IFRS financial statements. The course also discusses the IASBs and FASBs efforts towards achieving convergence in EPS reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IAS 33
• Chapter 2: CAPITAL STRUCTURES
• Chapter 3: BASIC EARNINGS PER SHARE
• Chapter 4: DILUTED EARNINGS PER SHARE
• Chapter 5: PRESENTATION AND DISCLOSURE
• Chapter 6: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Calculate basic and diluted earnings per share.
• Describe the presentation and disclosure requirements of IAS 33.
• Describe the similarities and differences between IFRS and U.S. GAAP in the area of earnings per share.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

IFRS Learning Modules are a series of courses that provide in-depth overviews of various topics related to International Financial Reporting Standards (IFRS). IFRS represents the global accounting principles that provide the foundation for most of the worlds financial reporting. These Standards establish the recognition, measurement, presentation, and disclosure requirements for transactions and events reflected in IFRS financial statements.

The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board (IASB) and their U.S. equivalent (the FASB) have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States.

Module 7 of the IFRS Learning Module series presents an overview of IAS 16 Property, Plant, and Equipment, the accounting standard for classifying and measuring property, plant, and equipment (also known as fixed assets) in IFRS financial statements. The course also discusses the IASBs and FASBs efforts towards achieving convergence in fixed assets reporting.

Topics include:

• Chapter 1: INTRODUCTION TO IAS 16
• Chapter 2: ACQUISITION OF PROPERTY, PLANT, AND EQUIPMENT
• Chapter 3: COSTS AFTER ACQUISITION
• Chapter 4: DEPRECIATION FACTORS
• Chapter 5: DEPRECIATION METHODS
• Chapter 6: IMPAIRMENTS
• Chapter 7: REVALUATIONS
• Chapter 8: DISPOSAL OF PROPERTY, PLANT, AND EQUIPMENT
• Chapter 9: DISCLOSURES
• Chapter 10: IFRS & U.S. GAAP CONVERGENCE

Learning Objectives:

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

• Explain the proper accounting treatment for acquisitions of property, plant, and equipment (and other associated costs) under IFRS.
• Calculate depreciation using the methods permitted under IAS 16.
• Describe the process for determining whether or not a long-lived asset is impaired under IAS 36.
• Distinguish between the cost and revaluation accounting models (as described in IAS16).
• Describe the similarities and differences between IFRS and U.S. GAAP in the area of property, plant, and equipment.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course focuses on tax issues affecting the treatment of interest and debt. It covers the definition of bona fide debt, the impact of related parties, the avoidance of equity and lease characterization, and deductible versus non-deductible
interest factors. Sticky cross issues such as the impact of at-risk rules under 465, passive loss restrictions of 469, and below-market-rate loans under 7278 are examined. In addition, the accounting method treatment of interest,
points, prepaid interest, and discounted loans are reviewed. Particular attention is given to imputed interest and original issue discounts.

Learning Objectives:

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

• Determine interest and select how much is tax-deductible under 163 by:
  
  • a. Identifying what constitutes bona fide debt considering economic substance and purpose and the differences that such debt has from installment sales, long-term and leveraged leases, and annuities;
  • b. Specifying how transactions with family members and controlled corporations can recharacterize alleged indebtedness into gift or business equity naming the factors used in this recharacterization and;
  • c. Recognizing incentives to use corporate debt instead of equity and the special treatment of failed equity investment under 1244.
• Identify deductible interest and special calculation concepts and procedures by:
  
  • a. Recognizing the allocation of interest based on the debts business or personal purpose specifying the application of any carryover rules;
  • b. Determining net investment income including its impact on the deductibility of investment interest;
  • c. Recognizing the special tax treatment given to student loans, margin accounts, and market discount bonds stating what happens to any disallowed interest expense; and
  • d. Specifying the timing considerations in interest reporting including interest paid in advance.
• Recognize nondeductible interest types and provisions that through restriction create nondeductible interest by:
  
  • a. Identifying when interest is nondeductible personal interest under 163(h)(1);
  • b. Determining the disallowance of interest related to tax-exempt income under 265, the life insurance interest restrictions of 264; the 465 at-risk limitations and application of the 469 passive loss rules; and
  • c. Specifying the treatment of certain commitment fees and service charges based on R.R. 67-297 and case law.
• Identify interest under the cash or accrual method recognizing the special elections applicable to and treatment of carrying charges under 266, below-market loans, and imputed interest.

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

Strong internal controls are a good part of the fraud prevention framework any organization creates to thwart crooks. However, these controls fall in many places, and often they are in places where you least expect them. This is especially important when it comes to the accounts payable function. For control breakdowns in this area allow crooks easy access to the organizations financial assets. This course takes a look at control breakdowns that are sometimes unintentionally ignored to the peril of the organization not addressing them. The issues evaluated in this course are critical to those who want to run an efficient, fraud-resistant accounts payable function.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

This course is designed to familiarize participants with internal controls that can help to prevent and detect fraud in their organizations. All organizations whether for-profit businesses, not-for-profits or government entities are susceptible to fraud. Fraud can incur internally and be perpetrated by employees, managers, or owners, or fraud can be perpetrated externally by customers, vendors, former employees, and individuals or criminal organizations that have no relationship to the victim organization. This course is designed to consider internal controls for fraud in small businesses but could also be useful for other small entities.

Learning Objectives:

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

• Identify risks of fraud in small businesses
• Identify internal controls to help prevent fraud
• Identify internal controls to help detect fraud
• Design internal controls for a small business

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

Strong internal controls are a good part of the fraud prevention framework any organization creates to thwart crooks. However, there are many places these controls fall down and often they are in places where you least expect them. This is especially important when it comes to the accounts payable function. For control breakdowns in this area allow crooks easy access to the organizations financial assets.

This course takes a look at control breakdowns that are sometimes unintentionally ignored to the peril of the organization not addressing them. The issues evaluated in this course are critical to those who want to run an efficient, fraud-resistant accounts payable function.

Topics include:

• Chapter 1: Why Internal Controls Matter
• Chapter 2: The Basics of Internal Controls: Theory
• Chapter 3: The Basics of Internal Controls: In Practice
• Chapter 4: Fraud Prevention Controls and Practices
• Chapter 5: Internal Controls and Duplicate Payments
• Chapter 6: Where Internal Controls Break Down
• Chapter 7: Purchase Orders and Their Role in Internal Controls
• Chapter 8: Invoice Processing: The Core of the Accounts Payable Function
• Chapter 9: Invoice Related Control Issues
• Chapter 10: When Paying by Check: The Internal Control Migraine
• Chapter 11: Check Related Issues
• Chapter 12: Corporate Procurement Cards: An Alternative to Paper Checks
• Chapter 13: Electronic Payment Alternatives: A Better Payment Approach
• Chapter 14: The Master Vendor File: Where It All Begins
• Chapter 15: The Travel and Entertainment Component: Expense Reimbursements
• Chapter 16: Computers, Tablets, and Smartphones: The Often-Overlooked Control Component
• Chapter 17: Controls to Prevent Bribing Foreign Government Officials
• Chapter 18: Other Issues That Present Control Concerns
• Chapter 19: The Policy and Procedures Manual: Tying It All Together

Learning Objectives:

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

• Detect problems likely to occur as a result of weak controls
• Identify the regulatory consequences of poor or ineffective controls
• Identify really bad accounts payable practices that weaken controls
• Pinpoint problems likely to occur if strong controls are not used in accounts payable
• Delineate problems created when segregation of duties are not set up correctly
• Identify real-life issues that arise due to poor internal controls
• Demonstrate the interaction between fraud and poor internal controls
• Reveal internal control practices every organization should use to deter fraud
• Identify and eliminate weak control practices that dont curtail duplicate payments
• Show how poor controls make duplicate payments more likely to occur
• Pinpoint places where internal controls most commonly breakdown in the accounts payable function
• Reveal reasons controls sometimes fail to Demonstrate how an accounts payable policy and procedures manual strengthens controls
• Pinpoint places where purchase orders cause control problems
• Identify common purchase order problems and show how they can be fixed
• Identify common invoice problems
• Demonstrate how best invoice control practices improve the processing function
• Recognize invoice automation control issues as they arise
• Be aware of how control issues can fall apart in the accounts payable function in the month-end and year-end close
• Implement the proper controls around the check production process
• Demonstrate why signature stamps represent poor control and can cause your organization big problems
• Identify poor controls related to check request forms
• Demonstrate why bank reconciliations have to be done on a very timely basis
• Identify controls that should be incorporated into every corporate procurement program
• Reveal best fraud control strategies for your corporate procurement card program
• Reveal best control practices related to electronic payments
• Demonstrate why daily bank reconciliations are so important even if electronic payments are not being made
• Reveal how controls around the master vendor file prevent fraud
• Show how inappropriate segregation of duties around the master vendor file hurt the bottom line
• Show how uniform enforcement of the travel policy minimizes game playing on the part of employees
• Demonstrate how to control expense reimbursement fraud
• Demonstrate the importance of having a policy regarding employees using personal devices for work
• Integrate appropriate internal controls into the use by employees of personal devices
• Integrate checking for bribery into the accounts payable function
• Show how employees tend to disguise bribes to foreign government officials
• Identify control problems created when employees share passwords
• Identify issues created by Super Users of ERP systems
• Shows how a good policy and procedures manual can strengthen internal controls
• Demonstrate why updating the policy and procedures manual regularly strengthens internal controls

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course is designed for individuals who would like to obtain a basic introduction to forensic accounting. We will review the history of the forensic accounting profession in the United States. Participants will be exposed to various professional associations and certifications in the forensic accounting field. We will discuss the career opportunities in the forensic accounting field and the skills and knowledge necessary to be a successful forensic accountant.

In the accounting industry, one of the topics its often broached is the area of forensic accounting. Many accountants are interested in learning more about forensic accounting or are interested in getting into the forensic accounting profession. This basic level CPE course is designed to help answer some of the basic questions about forensic accounting and working in the forensic accounting field.

Learning Objectives:

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

• Define forensic accounting.
• Identify professional associations and designations in the forensic accounting field.
• Identify various types of forensic accounting engagements, certifications, and designations.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course can benefit accountants, as well as business managers, that want to understand how financial ratios and other forms of analyses can be used to evaluate a business.  This course also covers the investment classifications
and investment accounting used by companies to record investments within their financial statements. 

Topics include:

• Accounting for Equity Securities Investments
• Accounting for Debt Securities Investments
• Financial Statement Analysis 

Learning Objectives:

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

• Financial Statement Analysis 
  

1. Describe the various company evaluation techniques including vertical, horizontal, and ratio analysis that can be used. 
2. Demonstrate an understanding of various company ratios for liquidity and efficiency, solvency, profitability, and market prospects. 
3. Compute various company ratios for liquidity and efficiency, solvency, profitability, and market prospects. 
4. Compute the DuPont Analysis given the appropriate company information. 

• Accounting for Debt Security Investments

1. Demonstrate an understanding of basic bond valuation including recording a bond acquisition and interest revenue. 
2. Describe the various accounting classifications including held-to-maturity, trading, and available-for-sale for debt securities. 
3. Demonstrate an understanding of sales and impairments of debt investments.
4. Demonstrate an understanding of the financial statements presentations, international reporting standards, and the fair value option of debt investments.

• Accounting for Equity Security Investments

1. Discuss what is meant by significant influence and how it affects the accounting classification of equity investments. 
2. Explain the recording of the purchase of equity investments. 
3. Demonstrate an understanding of how dividends, changes in fair value, impairment, and the sale of an equity investment are recorded under the fair value through the net income approach. 
4. Explain the financial statement presentation under the fair value through the net income approach. 
5. Demonstrate an understanding of the recording of investment revenue, receipt of dividends, and additional adjustments under the equity method approach. 
6. Explain the financial statement presentation under the equity method approach. 
7. Discuss the fair value option under the equity method approach.  
8.  Demonstrate an understanding of the recording of investment revenue, receipt of dividends, and recording of additional adjustments under the equity method approach. 
9. Demonstrate an understanding of the consolidation method including the concept of noncontrolling interest and the consolidated 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

The book begins with a look at changing best practices and identifies those which must change in order for the accounts payable function to remain effective and thus allow the parent organization to remain competitive. It also explains why best practices are so important and why keeping current on the latest practices is critical for all.

This course takes a deep dive into the developing issues impacting the AP function of every company. The issues evaluated in this course are critical to those who want to run a cost-effective, efficient, fraud-resistant AP function.

Topics include:

• Chapter 1 Changing Best Practices: No Longer a Static Set of Rules
• Chapter 2 The Evolution in the Invoice Environment
• Chapter 3 The Business Community Takes a Giant Step away from Paper Checks: Electronic Payments
• Chapter 4 Electronic Payments: Expansion and Innovation
• Chapter 5: Expense Reimbursement Receipts: The Bombshell Issue Many Don’t Expect
• Chapter 6: Emerging Payment Frauds, both Large and Small
• Chapter 7: Vendor Portals in Accounts Payable
• Chapter 8: Advances in Technologies Provide New Data Insights
• Chapter 9: Unique Challenges Created by Personal Devices (Smartphones and Tablets)
• Chapter 10: Often-Overlooked Internal Control Breakdowns
• Chapter 11: The New Vocabulary in Use in Accounts Payable (and Elsewhere in the Business Community)
• Chapter 12: The Accounts Payable Function of Tomorrow
• Chapter 13: The Future of the Professionals Working in and Managing the Accounts Payable Function

Learning Objectives:

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

• Pinpoint problems that arise when best practices are ignored in AP.
• Implement a best practice AP policy.
• Create procedures that address new issues impacting AP function.
• Pinpoint the skill sets and personnel likely to be successful in AP in the future.
• Implement a customer service approach in the AP department.
• Identify the needed skills you or your staff might be missing.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

This course can benefit accountants, as well as business managers, that want to understand how financial ratios and other forms of analyses can be used to evaluate a business.  This course also covers the investment classifications
and investment accounting used by companies to record investments within their financial statements. 

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Accounts Payable Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the three primary accounts payable activities.
• Properly identify the key documents in the accounts payable process.
• Recognize the process-specific controls related to the accounts payable process.
• Properly identify additional accounts payable process considerations and periodic monitoring analysis and other procedures for the accounts payable process. 

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

Companies must accurately bill customers in order to stay in business. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the
process.  The course allows participants to become familiar with or brush up on, internal control definitions and concepts.  The course also covers the billing process in detail.  

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Billing Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the five primary billing activities.
• Properly identify key documents in the billing process.
• Recognize the process-specific controls related to the billing process.
• Properly identify additional billing process considerations and periodic monitoring analysis and other procedures for the billing process. 

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

All businesses need cash to survive.  Proper controls in the receipt of cash are extremely important as this is the primary way that most companies generate cash.  A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with, or brush up on, internal control definitions and concepts.  The course covers the cash receipts process in detail.  Learning objectives for this course are listed below. 

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Cash Receipts Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls and the limitations or conceptual failings of internal controls. 
• Identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the three primary cash receipts activities.
• Recognize the cash receipt-specific process controls within the cash receipts process. 
• Correctly identify additional cash receipts process considerations and periodic monitoring analysis and other procedures for the cash receipt process.

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

Companies must collect outstanding accounts from customers as part of their business activities. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with or brush up on, internal control definitions and concepts.  The course also covers the collection process for outstanding accounts in detail.

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Collection For Outstanding Accounts Process 

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Correctly identify the three primary collections for outstanding accounts activities.
• Recognize the process-specific controls related to the collection of outstanding accounts process.
• Correctly identify additional collection for outstanding accounts process considerations and periodic monitoring analysis and other procedures for the collection of outstanding accounts process. 

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

Properly evaluating, setting, and monitoring customer credit limits can be important to companies for issuing credit and ultimately, collecting cash receipts. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  This course allows participants to become familiar with, or brush up on, internal control definitions and concepts.  The course also covers the credit process in detail.  Participants will learn the key credit process steps under both a manual and a computerized system.  While relatively few companies may still have a purely manual system covering a manual system will help an accountant, auditor, or business manager to better understand what the key documents received, created, and sent from the process are.  Learning objectives for this course are listed below. 

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Credit Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the three primary credit activities. 
• Properly identify key documents in the credit process.
• Recognize the process-specific controls related to the credit process. 
• Properly identify additional credit process considerations, periodic monitoring analysis and other procedures, and specific credit policy considerations.  

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 can benefit anyone that wants to better understand the role that internal controls can play in creating a reliable and consistent accounting system for today’s competitive and complex business environment.  A clear
understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with, or
brush up on, internal control definitions and concepts it also covers in detail the order entry process.  Participants will learn the key order entry process activities under both a manual and a computerized system. 
While relatively few companies may still have a purely manual system covering the manual process will help an accountant, auditor, or business manager to better understand what the key documents received, created, and sent from
the process are.  

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Order Entry Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the attributes of job order and process costing. 
• Properly identify the three primary order entry activities. 
• Properly identify key documents in the order entry process.
• Recognize the process-specific controls related to the order entry process. 
• Correctly identify additional order entry process considerations and periodic monitoring analysis and other procedures for the order entry process. 

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

Controls around the procurement of goods including the purchasing, receiving, and accounts payable processes are important for companies that want to procure goods effectively at fair prices. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with, or brush up on, internal control definitions and concepts.  Participants will also learn the key purchasing process activities as well as specific controls related to the purchasing process.

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Purchasing Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the four primary purchase process activities.
• Properly identify the key documents in the purchasing process.
• Recognize the process-specific controls related to the purchasing process.
• Correctly identify additional purchasing process considerations and periodic monitoring analysis and other procedures for the purchasing process. 

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

Controls around the procurement of goods including the purchasing, receiving, and accounts payable processes are important for companies that want to procure goods effectively at fair prices. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with, or brush up on, internal control definitions and concepts.  Participants will also learn the key receiving process activities as well as specific controls related to the receiving process. 

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Credit Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the two primary receiving activities.
• Properly identify the key documents in the receiving process.
• Recognize the process-specific controls related to the receiving process.
• Properly identify additional receiving process considerations and periodic monitoring analysis and other procedures for the receiving process. 

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

Proper controls around the shipping process are essential for companies in providing accurate and timely orders to customers. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.  The course allows participants to become familiar with, or brush up on, internal control definitions and concepts.  The course also covers the shipping process in detail.  Participants will learn the key shipping process activities under both a manual and a computerized system.  While relatively few companies may still have a purely manual system, covering the manual process will help an accountant, auditor, or business manager to understand better what the key documents received, created, and sent from the process are. 

Topics include:

• Defining Internal Controls and The Internal Control Environment
• Shipping Process

Learning Objectives:

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

• Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of evolving internal controls systems.
  
• Correctly identify risk categories including internal and external risk and inherent and residual risk.  
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls. 
• Properly identify internal control categories including preventative or detective controls and manual or automated controls. 
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control–Integrated Framework and the Sarbanes Oxley Act.  
• Properly identify the three primary shipping activities.
• Properly identify key documents in the shipping process.
• Recognize the process-specific controls related to the shipping process.
• Properly identify additional shipping process considerations and periodic monitoring analysis and other procedures for the shipping process. 

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

Anyone who wants to make informed, fact-based decisions that are key to the success of an organization will benefit from this class.  This course can benefit accountants, as well as, other business decision-makers.  Companies must have a good understanding of their costs to succeed.  Managers within an organization can use managerial accounting as a basis for making informed, fact-based decisions. This course will cover managerial accounting concepts.

The course allows participants to become familiar with, or brush up on, basic concepts used to allocate product costs and analyze aspects of company performance. The use of job order costing, process costing, or activity-based costing as appropriate for the business can provide business managers with the tools and techniques they can use to analyze company performance as well as categorize and evaluate company product costs to make informed product decisions. 

Topics include:

• Basic Concepts of Managerial Accounting 
• Job Order Costing and Analysis 
• Process Costing and Analysis  
• Activity-Based Costing and Analysis

Learning Objectives:

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

• Recognize the differences between managerial and financial accounting, the various ways to classify costs and the presentation of inventory and cost of goods within the Balance Sheet and Income Statement. 
  
• Properly identify the job order costing techniques used to allocate product costs to jobs/products along with the related journal entries and documents. 
• Properly identify the process order costing techniques used to allocate production costs to products in addition to the related journal entries and documents.
• Correctly identify the three activity-based costing methods for allocating product costs including 1) Single factory-wide overhead rate method, 2) Department overhead rate method, and 3) Activity-based overhead costing method. 

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

Anyone who wants to make informed, fact-based decisions that are key to the success of an organization will benefit from this class.  This course can benefit accountants in addition to business decision-makers.  Managers within an organization can use managerial accounting as a basis for making informed, fact-based decisions. This course will cover managerial accounting concepts. The course allows participants to become familiar with or brush up on concepts used to categorize costs, compares absorption costing to variable costing, and provides an analysis of company performance for various business scenarios. This course provides business managers with the tools and techniques they could use to analyze company performance as well as categorize, and evaluate company product costs to make informed product decisions.  Companies must have a good understanding of their costs to succeed which can be done through managerial accounting.  Managerial accounting concepts covered include: 

• Behaviors of Costs and Breakeven (Cost Profit Volume) Analysis: The fixed and variable classification of costs as well as the technique of breakeven analysis for companies with a single product as well as companies with multiple products. 
• Variable Costing Analysis: Differences between absorption costing and variable costing along with techniques for determining what costs should be product costs under the absorption and variable costing methods are presented.  Explanations of the Income Statement for both absorption and variable costing and the differences between both methods are also addressed.
  
• Relevant Costs for Managerial Decisions:  Relevant costs, including sunk cost, out-of-pocket cost, and opportunity cost in addition to incremental costs are discussed.  Relevant cost analysis illustrations for additional business decisions such as: make or buy, scrap or rework, sell or process further, sales mix with constrained resources, segment elimination, and keep or replace equipment.  Unavoidable and avoidable costs as they relate to segment elimination are also explored.   
  
• Performance Measurement and Responsibility Accounting: This section includes discussions of the advantages and disadvantages of decentralized organizations; the use of performance evaluations using cost centers, profit centers, and investment centers; controllable and uncontrollable costs and the use of responsibility accounting system; direct and indirect costs and the allocation of indirect costs including examples for utility, advertising, rent, wages and salaries, equipment and machinery deprecation, and service department expenses; departmental income statements and the allocation of service department costs under the direct, step and reciprocal methods; and, the use of investment center performance evaluation and other nonfinancial performance measures.
  

Topics include:

• The behavior of Costs and Breakeven (Cost Volume Profit) Analysis 
• Variable Costing Analysis
• Relevant Costs for Managerial Decisions
  
• Performance Measurement and Responsibility Accounting

Learning Objectives:

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

• Recognize the fixed and variable classifications of costs along with the technique of breakeven (cost volume profit) analysis for companies with a single product and multiple products. 
  
• Identify the differences between absorption costing and variable costing in addition to techniques for determining what costs should be product costs under the absorption and variable costing methods.
• Properly identify the Income Statements for both absorption and variable costing methods along with the differences between both methods.
• Discuss the three types of relevant costs, incremental costs, and avoidable and unavoidable costs. 
• Discuss the advantages and disadvantages of decentralized organizations including performance evaluations using cost centers, profit centers, and investment centers plus controllable and uncontrollable costs used within the responsibility accounting system. 
• Properly identify direct and indirect costs and the allocation of indirect expenses.  Including discussing department income statements and understanding of the allocation of service department costs under the direct, step, and reciprocal methods. 
• Discuss investment center performance evaluations and other nonfinancial performance measures.

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

Vendor issues in an effective accounts payable function are often ignored. This is unfortunate because poor controls around the master vendor file, the way data is entered and the lack of rigid internal controls all play a key role in preventing fraud and duplicate payments. And, its not as easy as you might think. There are numerous details, which if ignored, can cause problems whose impact is felt directly in the bottom line. Industry expert Mary Schaeffer delves into this material revealing where the problems are and what every organization should be doing to minimize, if not eliminate, the impact of these issues.

Topics include:

• Chapter 1: Background
• Chapter 2: Current Events Impact
• Chapter 3: The Master Vendor File
• Chapter 4: Data in the Master Vendor File
• Chapter 5: Data Entry in the Master Vendor File
• Chapter 6: Vendor Taxpayer Identification Number (TIN) Issues
• Chapter 7: Vendor Contact Information
• Chapter 8: The Vendor Credit Issue
• Chapter 9: Handling New Vendors
• Chapter 10: Critical Vendors: Ensuring Theyll Be There When You Need Them
• Chapter 11: Vendor Relations
• Chapter 12: Vendor Fraud
• Chapter 13: Other Vendor Issues

Learning Objectives:

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

• Understand issues related to vendor activity in accounts payable
• Pinpoint problems that are likely to occur when vendor issues are not addressed in accounts payable
• Integrate the impact of current event changes into the ongoing accounts payable practices
• Identify problems likely to occur if the potential for fraud is ignored in accounts payable
• Identify issues related to proper and improper segregation of duties as they relate to the master vendor file
• Integrate the issues of ownership of the master vendor file into the decision on where responsibility for it should lie
• Delineate controls needed around the master vendor file
• Recognize the relationship between controls and best practices as they relate to the master vendor file
• Identify where problems occur when data entry isnt handled using a rigid coding standard
• Understand the necessity for regular cleansing of the master vendor file
• Integrate the use of IRS TIN Matching program into the vendor set-up routines
• Understand the problems that can arise if games are played with TIN Matching and how to avoid them
• Avoid problems created when vendor contact information is not collected and/or updated
• Integrate controls into the accounts payable process to prevent phony e-mails from causing payment fraud
• Identify problems created when vendor credits are not identified and recovered regularly
• Develop practices to include open credit recovery in the regular accounts payable process
• Create procedures to collect all information needed to evaluate critical vendors
• Figure out where responsibility for evaluating critical vendors should lie
• Identify clues that will help identify potentially fraudulent invoices
• Implement best practices that will help weed out fraudulent invoices

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

Accountants and business decision-makers who want to understand concepts related to measuring and tracking company performance could benefit from this course.  The course allows participants to become familiar with tracking the performance
of a decentralized organization as well as understanding the benefits and key pieces of both a Master budget and a Flexible budget. Below is a listing of the items covered within the course.

Topics include:

• Master Budgets
  
• Flexible Budgets
• Performance Measurement and Responsibility Accounting

Learning Objectives:

Below are the learning objectives for the course:

• Performance Measurement and Responsibility Accounting
  

1. Compare the advantages and disadvantages of a decentralized organization. 
2. Demonstrate an understanding of financial and non-financial performance evaluation for cost centers, profit centers, and investment centers as applicable.
3. Demonstrate an understanding of controllable and uncontrollable costs, direct and indirect expenses, and the allocation of indirect expenses. 

• Master Budgets

1. Discuss the benefits, timing, and components of a Master budget. 
2. Explain the components of a Master budget including the Operating budget, Cash budget, and budgeted Financial Statements. 

• Flexible Budgets