Accounting Standards for Small- & Medium-Sized Businesses: The Best AnnualUpdate and Review of U.S. GAAP, Tax & Cash Financial Reporting Frameworks

Previous Add to Calendar Next

Dec 16, 2020

Registration: 7:30 AM / Program: 8:00 AM - 4:00 PM Pacific Time


Member Fee: $305.00
Nonmember Fee: $405.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: -152.00


This course provides an update of the recent changes that have occurred in the financial reporting frameworks commonly used by small and medium-sized entities (SMEs). Troublesome areas in these financial reporting frameworks as identified in peer reviews and litigation will be highlighted. The new U.S. GAAP lease accounting standard will be covered in detail.

Designed For

This course is designed for practitioners who need to update their knowledge of the accounting standards issued during the past year that affect the preparation of financial statements of small and medium-sized entities and who need to become aware of and learn how to handle common financial statement deficiencies.


This course provides an update of the recent changes that have occurred in the U.S. Accounting Standards Codification that are particularly relevant to small and medium-sized entities (SMEs) including the lease accounting standards. 

Major Subjects

  • Amendments to the U.S. Accounting Standards Codification issued during the 18-month period prior to the program
  • Update and review of the tax and cash financial reporting frameworks
  • Update and Review of the AICPA Financial Reporting Framework for SMEs
  • Update on common financial statement errors and deficiencies as identified in peer reviews and in litigation
  • Detailed analysis of the new lease accounting standard
  • Practical guidance for SMEs in implementing the new revenue recognition standard


Walter Haig

Walter J. Haig II, CPA, owns his own CPA firm in Creston, Washington. His experience is extensive in auditing, accounting and advisory services to family-owned businesses. He is also a highly regarded consultant in cases involving accountant's malpractice.

Haig lectures nationally in the areas of auditing, accounting, compilation and review services, personal financial statements, forecasts and projections, and personal financial planning. His skills as an instructor have won him the AICPA's Outstanding Discussion Leader Award five times and the Washington Society of CPA's Highest Rated Instructor Award six times. The Washington Society of CPA's Discussion Leader of the Year Award was named in his honor in 1990. He has been rated as the best instructor of auditing and accounting courses in more than a dozen states. In addition, he was one of the highest rated presenters at six of the AICPA annual National Auditing and Technical Symposiums. Haig is the author of eight highly rated continuing professional education courses that are presently being utilized on a national basis.

Haig has served on various AICPA and Washington Society of CPA's task forces and committees in the areas of auditing, personal financial planning and continuing education. He received his Bachelor of Science Degree in Business from the University of Colorado.

Rev. 2014