Specifically tailored for practitioners who do not perform audits but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.
Learning Objectives
- Review recently issued accounting and non-audit attestation pronouncements, including PCC activities
- Understand the new SSARS No. 21 relating to the preparation of financial statements and new guidance on compilations and reviews as well as changes due to SSARS No. 22, 23, and 24
- Be aware of other important guidance affecting small and medium-sized business practitioners
Major Topics
- Small and medium-sized business related ASUs, including recent PCC activities
- Leases and other applicable accounting standards updates
- Special purpose frameworks -- Cash, modified cash, and tax basis
- Common small and medium-sized business financial statement errors and deficiencies
- SSARS No. 21, Clarification and Recodification, including the new preparation of financial statements non-attest service as well as the impact of SSARS No. 22, 23, and 24
- Proposed changes to applicable accounting, auditing and SSARS standards
- Other types of small and medium-sized business attest engagements -- Examinations, reviews, and agreed-upon procedures engagements on financial forecasts and projections, and pro forma financial information
