COURSE DESCRIPTION

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 entity’s 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 sponsorship’s:

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.

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 sponsorship’s:

COURSE DESCRIPTION

The purpose of this course is to review the changes made to lease accounting by ASU 2016-02, Leases, (as further amended by ASU 2018-01, Land Easement- Practical Expedient for Transition to Topic 842, and numerous other amendments),
and to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease.

Topics include a review of the new rules for lessees and lessors, the types of leases, how to account for the balance sheet, income statement, and cash flows statement impacts of different types of leases, the implementation requirements,
and more...

This course uses materials entitled Accounting for the New Lease Standard-2021- ASU 2016-02 and Other Amendments, authored by Steven C. Fustolo, CPA.

Learning Objectives:

After reading the 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.
• Recognize some of the criteria that determine whether a contract is or is not a lease.
• Identify some of the types of economic benefits a lessee can obtain from a leased asset.
• Recognize a right that ASU 2016-02 states does not prevent a lessee from having the right to direct use of an identified 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 types of leases for a lessor.
• Recognize the rate that a lessor should use in performing the 90% test for a direct financing lease.
• Recall how a lessor should initially account for initial direct costs for a lease in certain instances./li>
  
• 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.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

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 auditor’s report, auditing estimates and audit evidence, and changes made to the auditor’s 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 auditor’s 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 entity’s 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 auditor’s 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 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
• Identify how an auditor should respond if the auditor does not plan to test the operating effectiveness of an entity’s controls.
• Identify a change made by SSAE No. 19
• Recognize one of the four types of engagements within SSAE No. 21’s new definition of attestation engagement
• Identify an example of subject matter that is within the scope of SSAE No. 22’s 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 auditor’s 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 entity’s 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:

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 auditor’s 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. 21’s new definition of attestation engagement.
• Identify an example of subject matter that is within the scope of SSAE No. 22’s review.

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

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 management’s 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 sponsorship’s:

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 COVID-19, the CARES Act and PPP loans, accounting and disclosures for the Employee Retention Credit (ERC) and Pass-Through Entity (PTE) tax, and more.

TOPICS COVERED:

• CHAPTER 1: Implementing the New Lease Standard- 2022 ASU 2016-02 Leases (Topic 842) and Other Amendments
• CHAPTER 2: Accounting and Financial Reporting for COVID-19, the CARES Act, and PPP Loans 2022 Edition
• CHAPTER 3: Accounting and Disclosures for the Employee Retention Credit (ERC)and the Pass-Through Entity (PTE) Tax-2022 Edition
• CHAPTER 4: ASU 2016-13 Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments-2022
• CHAPTER 5: Current Developments - Accounting and Financial Reporting- 2022
• CHAPTER 6: Selected Accounting Standards Updates (ASUs)2022

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
• Recognize some of the criteria that determine whether a contract is or is not a lease
• Identify how a lessee should account for initial direct costs
• 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
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios.

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 including supply-chain shortages
• 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 a going concern
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify an advantage of a remote accounting function
• Recall how to adjust a deferred tax account when there is a change in tax law
• Recognize a change made by the CARES Act to the deductibility of interest
• Recognize how to account for PPP loan forgiveness
• Identify how to treat the forgiveness of a PPP loan for tax purposes

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.12
• 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 prior year's 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:

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

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

• Identify the elements that are the target of the FASB’s disaggregation 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 the basic rule of the LIFO Conformity Requirement
• Recognize how the IPIC external index for LIFO is used for GAAP
• Recall the type of investment that is eliminated by ASU 2016-01
• Identify when a sustainability disclosure is required by an SEC company
• Recognize an example of a contract that is exempt from the scope of the revenue standard
• Identify one of the two approaches that are used to recognize revenue using the new revenue standard
• Recall a change to the accounting for the goodwill that is proposed by the FASB
• Recognize how to present deferred income taxes on the balance sheet under ASU 2015-17
• Recognize the basis that most marijuana businesses have to use
• Recognize when a state might be able to charge sales tax under the Wayfair decision

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

• Identify the private company election to perform a triggering event evaluation
• Recognize the types of arrangements that qualify for 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

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 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 COVID19, the CARES Act and PPP loans, accounting, and disclosures for the Employee Retention Credit (ERC) and Pass-Through Entity (PTE) tax. The course also addresses new statements issued by the Auditing Standards Board, changes in compilation and review standards, and more.

Topics include:

• Implementing the New Lease Standard- 2022 ASU 2016-02 Leases (Topic 842) and Other Amendments
• Accounting and Financial Reporting for COVID-19, the CARES Act and PPP Loans 2022 Edition
• Accounting and Disclosures for the Employee Retention Credit (ERC) and the Pass-Through Entity (PTE) Tax- 2022 Edition.
• ASU 2016-13 Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments-2022
• Current Developments- Accounting and Financial Reporting- 2022
  
• Selected Accounting Standards Updates (ASUs) 2022
  
• SSARS No. 25 Materiality in a Review of Financial Statements and Adverse Conclusions
  
• New Auditing Standards: SAS Nos. 134-145

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
• Recognize some of the criteria that determine whether a contract is or is not a lease
• Identify how a lessee should account for initial direct costs
• 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
• Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
• Recall the potential impact that the new lease standard might have on a lessee’s EBITDA and debt-equity ratios.

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 including supply-chain shortages
• 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 a going concern
• Identify a method that can be used to measure variable consideration revenue
• Recognize an example of a construction-type contract
• Identify an advantage of a remote accounting function
• Recall how to adjust a deferred tax account when there is a change in tax law
• Recognize a change made by the CARES Act to the deductibility of interest
• Recognize how to account for PPP loan forgiveness
• Identify how to treat the forgiveness of a PPP loan for tax purposes

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. 13
• 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 prior year's 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:

• 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 5 course material, you will be able to:

• Identify the elements that are the target of the FASB’s disaggregation 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 the basic rule of the LIFO Conformity Requirement
• Recognize how the IPIC external index for LIFO is used for GAAP
• Recall the type of investment that is eliminated by ASU 2016-01
• Identify when a sustainability disclosure is required by an SEC company
• Recognize an example of a contract that is exempt from the scope of the revenue standard
• Identify one of the two approaches that are used to recognize revenue using the new revenue standard
• Recall a change to the accounting for the goodwill that is proposed by the FASB
• Recognize how to present deferred income taxes on the balance sheet under ASU 2015-17
• Recognize the basis that most marijuana businesses have to use
• Recognize when a state might be able to charge sales tax under the Wayfair decision

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

• Identify the private company election to perform a triggering event evaluation
• Recognize the types of arrangements that qualify for 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

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

• Recognize a precondition for an accountant to accept an SSARS engagement
• Recall whether the preparation of financial statements standard is an attest or non attest service 14
• Identify whether a report is required in the preparation of financial statements engagement
• Recognize what the reporting requirements are, if any when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
• Identify where to disclose GAAP departures in the preparation of financial statements engagement
• Identify factors that should consider in determining materiality in a review engagement
• Recognize a change that SSARS No. 25 makes to the accountant’s review report
• Identify the term that GAAP uses for management’s assessment of an entity’s going concerned
• Recall some of the items that should be documented in a review engagement

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

• Identify a suggestion for an auditor to reduce time and increase 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 auditor’s 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 specialist’s work is not adequate
• Identify a type of risk assessment procedure that an auditor can use per SAS No. 145

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

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 sponsorship’s:

COURSE DESCRIPTION

In 2009, the FASB completed its Accounting Standards Codification™ (Codification) which was published in FASB No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles (FASB ASC
105). The Codification was effective for interim and annual periods ending after September 15, 2009. 

With the Codification, the FASB had as its goal to consolidate U. S. GAAP into one system that can be more easily researched by topic, rather than by reference number.  The Codification changes the citations for GAAP from the
typical FASB or APB statement number to an Accounting Standards Codification (FASB ASC) reference.   For example, FASB No. 159, The Fair Value Option for Financial Assets and Financial Liabilities, has been codified into
FASB ASC Topic 825, Financial Instruments. 

In this course, the author has, in some instances, including the original U.S. GAAP reference (e.g., FASB No. 115) parenthetically along with the FASB ASC topic number under the Codification (e.g., FASB ASC 320).  For abbreviation
purposes, the author uses the terms ASC, FASB ASC, and FASB ASC Topic, interchangeably

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
  
• Recall
  how to account for certain lease arrangements
  
• 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 new 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

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

• 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 -basic
  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)
• Enrolled Agents (EAs)
• Other Tax Return Preparer (OTRP)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

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
financial performance in the language of IFRS. 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.

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 world’s 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 IASB’s and FASB’s 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

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 organization’s 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 sponsorship’s:

COURSE DESCRIPTION

This course explains the significant changes made to auditing standards by the Auditing Standards Board’s 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:

• ASB’s 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 sponsorship’s:

COURSE DESCRIPTION

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

Topics include:

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

Learning Objectives:

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

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

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

COURSE DESCRIPTION

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

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

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

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

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

Learning Objectives:

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

• Identify an example of an
  attribute of information obtained as audit evidence
  
• Recognize actions an auditor
  should perform in evaluating information used as audit evidence
  
• Recognize 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
  
• Identify how an auditor should respond if the
  auditor does not plan to test the operating effectiveness of an entity’s
  controls

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The 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 new organization and format of the 2018 Yellow Book. Finally, this course will recognize the five areas that changed in the 2018
Yellow Book from the 2011 Yellow Book.

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.

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

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

COURSE DESCRIPTION

The objective of this course is to inform the reader of the accounting and financial reporting issues related to the receipt and forgiveness of loans received under the Paycheck Protection Program (PPP) Including first- and second-draw loans.

Topics include:

• Understanding the basic rules for PPP loans
  
• A review of how PPP loans should be accounted for under GAAP
  
• Accounting for the treatment of PPP loans as debt
  
• How to account for debt issuance costs
  
• Accounting for the forgiveness of debt
• Presentation of eligible expenses
• Presentation of PPP loan transactions on the statement of cash flows
• Disclosures required for PPP loans
• Accounting for advances received under the Economic Injury Disaster Loan (EIDL)
• Accounting for PPP loans as grants
• CPA independence issues when there is involvement in PPP loan transactions
• Accountant and auditor reporting issues and use of an emphasis-of-matter paragraph in reports
  

Learning Objectives:

After reading the 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 again 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
• Recall some of the rules about a CPA receiving an agent fee from a PPP loan lender, and
• Identify whether an emphasis-of-matter paragraph may be used in an accountant’s report when there is forgiveness of a PPP loan

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

COURSE DESCRIPTION

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

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

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

Learning Objectives:

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

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

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

COURSE DESCRIPTION

The difference in the financial reporting needs of private and public companies is a topic that has been studied at various times over the years. This course will provide an update on recent projects and activities focusing on private
company financial reporting. As background for the update, the standard-setting process will be reviewed.

The recent committees and panels that have studied private company financial reporting issues will be outlined along with the considerations and actions leading up to the Financial Accounting Foundation’s creation of the Private Company
Council. The American Institute of Certified Public Accountants’ plan for a new Financial Reporting Framework for Small – and Medium-sized Entities will also be reviewed.

The International community experienced similar private company reporting issues as those raised in the U.S. This course will review how the International Accounting Standards Board addressed the issue with a discussion of IFRS for
SMEs. The differences between IFRS for SMEs and U.S. GAAP along with the considerations regarding a U.S. private company’s use of IFRS for SMEs will also be reviewed.

Topics include:

• Private Company Financial Reporting Considerations
• Accounting Standard Setting
• Private Company Initiatives
• Financial Reporting Framework for Small and Medium-sized Entities
• U.S. Companies Use of IFRS for SMEs

Learning Objectives:

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

• Identify the concerns and issues regarding private company financial reporting.
• Recognize the accounting standard-setting process.
• Recognize the various private company financial reporting initiatives that have occurred.
• Identify the role of the Private Company Council and the FASB regarding private company standard-setting.
• Recognize IFRS, IFRS for SMEs, and the considerations regarding U.S. companies' use of IFRS for SMEs.

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 helps CPAs advise clients who are potential expatriate retirees to prioritize their choices for their lifestyle in an adopted country—what’s vital to have in a home abroad, how to maximize income and minimize taxes, what
possessions to take, and how to get them there, activities that help overcome culture shock, and even how to repatriate to the United States. This timely course assists retirees who plan to join the millions of Americans who live
a great life abroad.

Topics include:

• Who becomes an Expatriate, and Why
• Differences between temporary Job Transfers and Self-Initiated Expatriation
• Research and Planning
• Cost of living
• Healthcare

Learning Objectives:

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

• Describe how an expat’s experiences of a locale differ from those of tourists.
• Begin to prioritize what features drive the choice of an adopted country.
• Note the types of tax planning involved in expatriating and subsequent tax reporting.
• Compare financial expenses and resources available in the adopted country versus the United States.
• Determine which types of property are preferable to bring to the adopted country or obtain after the move.
• Be aware that success in repatriating requires financial and emotional preparation.

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 helps CPAs advise their clients who are potential expatriate retirees to prioritize their choices for their lifestyle in an adopted country—what’s vital to have to enjoy life in Belize, how to maximize income and minimize
taxes, what possessions to take, and how to get them there, activities that help overcome culture shock, and even how to repatriate to the United States.

This timely course assists retirees who plan to join the millions of Americans who live great life abroad.

Topics include:

• Who Becomes an Expatriate, and Why?
• Doing the Research and Planning
• Top Factors in Choosing the Best New Home
• Finances, Benefits, and Taxation
• Tradeoffs of U.S. and Foreign Tax Systems

Learning Objectives:

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

• Describe how an expat’s experiences of a local differ from those of tourists;
• Compare environmental and cultural features of the districts of Belize;
• Begin to prioritize what features drive the choice of an adopted country;
• Note the types of tax planning involved in expatriating and subsequent tax reporting;
• Compare financial expenses and resources available in Belize versus the United States;
• Determine which types of property are preferable to bring to the adopted country or obtain after the move; and
• Be aware that success in repatriating requires financial and emotional preparation.

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 helps CPAs advise clients who are potential expatriate retirees to prioritize their choices for their lifestyle in Costa Rica—what’s vital to have in a home abroad, how to maximize income and minimize taxes, what possessions
to take, and how to get them there, activities that help overcome culture shock, and even how to repatriate to the United States. This timely course assists retirees who plan to join the millions of Americans who live a great life
abroad.

Topics include:

• Who Becomes an Expatriate, and Why?
• Doing the Research and Planning
• Top Factors in Choosing the Best New Home
• Finances, Benefits, and Taxation
• Tradeoffs of U.S. and Foreign Tax Systems

Learning Objectives:

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

• Recognize how an expat’s experiences of a locale differ from those of tourists;
• Recognize the unique environmental and cultural features of Costa Rica;
• Identify types of priorities that drive the choice of an adopted country;
• Identify the types of tax planning involved in expatriating and subsequent tax reporting;
• Recognize financial expenses and resources available in Costa Rica versus the United States;
• Identify which types of property are preferable to bring to the adopted country or obtain after the move; and
• Recognize that success in repatriating requires financial and emotional preparation.

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 helps CPAs advise their clients who are potential expatriate retirees to prioritize their choices for their lifestyle in an adopted country—what’s vital to have to enjoy life in Panama, how to maximize income and minimize
taxes, what possessions to take, and how to get them there, activities that help overcome culture shock, and even how to repatriate to the United States. This timely course assists retirees who plan to join the millions of Americans
who live a great life abroad.

Topics include:

• Who Becomes an Expatriate, and Why?
• Doing the Research and Planning
• Top Factors in Choosing the Best New Home
• Finances, Benefits, and Taxation
• Tradeoffs of U.S. and Foreign Tax Systems

Learning Objectives:

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

• Describe how an expat’s experiences of a locale differ from those of tourists.
• Compare the environment and cultural features of Panamanian provinces.
• Begin to prioritize what features drive the choice of an adopted country.
• Note the types of tax planning involved in expatriating the subsequent tax reporting.
• Compare financial expenses and resources available in Panama versus the United States.
• Determine which types of property and preferable to bring to the adopted country or obtain after the move.
• Be aware that success in repatriating requires financial and emotional preparation.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The Yellow Book provides standards and guidance for auditors and audit organizations, outlining the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports.

The 2018 revision of Government Auditing Standards is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted.

The 2018 revision of Government Auditing Standards supersede the 2011 revision (GAO-12-331G, December 2011), the 2005 Government Auditing Standards: Guidance on GAGAS Requirements for Continuing Professional Education (GAO-05-568G, April 2005), and the 2014 Government Auditing Standards: Guidance for Understanding the New Peer Review Ratings (D06602, January 2014).

The 2018 revision should be used until further updates and revisions are made. An electronic version of this document can be accessed on GAO’s Yellow Book web page at http://www.gao.gov/yellowbook.

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
• 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

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

COURSE DESCRIPTION

The complexities of financial regulations and accounting pronouncements and the impact of global competition present businesses and executives with a demanding environment. Along with the necessary technical financial experience that
a Chief Financial Officer (CFO) must possess, many other skills and attributes are required to address the challenges of the role. This course will discuss many key skills and attributes that contribute to the success of CFOs.

Topics include:

• Leadership
• Integrity
• Assessing your Integrity
• Additional Skills of Successful CFOs
• Self Confidence
• Emotional Intelligence

Learning Objectives:

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

• Recognize the importance of leadership and the positive actions that exhibit leadership.
• Recognize your personal and organizational integrity.
• Recognize other skills in addition to financial reporting expertise that contributes to success.
• Identify and take steps to improve self-confidence.
• Recognize the significance of emotional intelligence and its impact on business success.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, including
changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements. Topics include expanding use of the disclaimer report in
a preparation engagement, changes involving the reporting on the contractual basis of accounting, new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement,
the new modified conclusion (qualified and adverse conclusion) reporting changes, guidance ongoing concern in a review engagement, and more.

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

Learning Objectives:

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

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

Who Should Attend:

• All Certified Public Accountants (CPAs)
  

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

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 requirements for auditor communication. Finally, this course will identify the three levels of service as identified by the AICPA.

Topics include:

• Chapter 1: Standards for Financial Audits
• Chapter 2: Standards for Attestation Engagements and Reviews of Financial Statements

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.

Who Should Attend:

• All Certified Public Accountants (CPAs)

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

COURSE DESCRIPTION

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

Topics include:

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

Learning Objectives:

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

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

Who Should Attend:

• All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:

COURSE DESCRIPTION

The objective of this course is to discuss the general rules and applications used in the preparation of and reporting on tax-basis financial statements and other bases of accounting found within the special purpose frameworks (also
referred to as other comprehensive bases of accounting).

Updated for changes made by the Tax
Cuts and Jobs Act, the CARES Act, and the Consolidated
Appropriations Act, topics include an overview of the types of special-purpose frameworks,  advantages and
disadvantages of using tax-basis financial statements,  tax-basis accrual versus cash basis,  reviewing the key differences between GAAP
and tax-basis revenue and expenses and other differences, tax-basis
disclosures,  reporting options for
tax-basis financial statements, unusual reporting and presentation issues
related to tax-basis financial statements, an overview of other types of
special-purpose frameworks including pure cash basis,  modified cash basis, regulatory basis,
contractual basis, and the other basis of accounting,  and more.

Updated for the CARES Act, ERC, PTE Tax,  and PPP Loans

The course also addresses the
presentation and disclosures for PPP loans, Employee Retention Credit (ERC), and
the Pass-Through Entity (PTE) tax.

Topics include:

• CHAPTER 1 - OVERVIEW
• CHAPTER 2 - SCOPE OF TAX-BASIS FINANCIAL STATEMENTS
• CHAPTER 3 - ADVANTAGES AND DISADVANTAGES OF TAX-BASIS
• CHAPTER 4 - KEY DIFFERENCES BETWEEN TAX BASIS AND GAAP
• CHAPTER 5 - FINANCIAL STATEMENT FORMATS
• CHAPTER 6 - TAX-BASIS DISCLOSURES
• CHAPTER 7 - TAX-BASIS REPORTS
• CHAPTER 8 - CONVERTING TO TAX-BASIS FINANCIAL STATEMENTS
• CHAPTER 9 - UNUSUAL PRACTICE ISSUES— TAX-BASIS FINANCIAL STATEMENTS
• CHAPTER 10 - OTHER SPECIAL PURPOSE FRAMEWORKS

Learning Objectives:

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

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