Financial Reporting Frameworks for SMEs Update and Review (4 hours)

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Jul 26, 2021

Registration: 6:30 AM / Program: 7:00 AM - 3:00 PM Pacific Time

Fees

Member Fee: $229.00
Nonmember Fee: $229.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

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. This course also addresses COVID-19 issues including practical guidance in accounting for PPP loan programs. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Designed For

CPAs, EAs, or other tax professionals

Objectives

After attending the presentation you will be able to...

  • Gain updated knowledge of the accounting standards issues during the past year
  • Know how updates affect the preparation of financial statements of small and medium-sized entities
  • Know how to handle common financial statement deficiencies

Major Subjects

The major topics that will be covered in this class include:
  • Amendments to the U.S. Accounting Standards Codification (i.e. - U.S. GAAP) issued during the 18-month period prior to the program
  • Update and review of the tax and cash special purpose frameworks
  • Update and review of the AICPA Financial Reporting Framework for SMEs
  • Update on common errors and deficiencies as identified in peer reviews and in litigation
  • Detailed analysis of the lease accounting standard
  • Practical guidance in accounting for COVID-19 issues including the accounting for PPP loan programs