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651 pages Objective: To review recent accounting, auditing and compilation and review changes.
The purpose of
this course is to inform the reader of the various changes affecting accounting,
compilation and review, and auditing engagements including newly issued FASB and
FASB statements, new statements issued by the Auditing Standards Board, changes
in compilation and review, and more.
· Compare U.S. GAAP’s approach to
displaying comprehensive income with the approach used by international
standards
· Discuss current GAAP’s three-option
approach to displaying comprehensive income.
· Discuss existing GAAP for goodwill
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Review the
fair value measurement and disclosure rules for public and nonpublic entities
·
Learn the
change in the definition of fair value under ASU 2011-04
· Understand
the expanded disclosures required for employers that participate in
multiemployer pension plans and multiemployer other postretirement benefit plans
·
Understand those
instruments to which the new ASU 2010-20 disclosure apply
·
Identify the twelve
disclosures required by ASU 2010-20
·
Compare the arguments in favor of and against Big
GAAP-Little GAAP and the Blue Ribbon Panel Report
·
List ways in which
companies recognize revenue prematurely
·
Recognize the changes proposed to
lease accounting
· Understand
the extensive changes made by SSARS No. 19 and 20
· Understand
the key changes made by the ASB’s Clarity Project
· Comprehend
the auditor’s responsibility for compliance with laws and regulations
Presentation Method: Self-Study
Category: Accounting CPE credit: 24 Hours Program Level: Update Prerequisites: None
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.  American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to: National Registry of CPE Sponsors, 150 Fourth Ave. North, Nashville, TN 37219-2417. Web site: www.nasba.org NASBA Sponsor number 108096
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