2020 Preparation, Compilation & Review (SSARS) Update for the Local Firm

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Instructor

Jim
Martin

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Jim Martin, CPA, CGMA, MAc

Bio

James (“Jim”) Martin is a true “general practitioner” in Atlanta, Georgia who, for 39 years, has specialized in both income tax and accounting and audit areas. In addition to serving the accounting and tax needs of 100 clients, Jim performs 75-80 continuing education seminars per year for CPAs and attorneys throughout the United States. To date, he has prepared and presented over 3000 full and half-day seminars on accounting and taxation topics. Jim’s philosophy of CPE is simple: spend the class time on topics of applicability and relevance to all and present the topics in an entertaining and fast moving manner. He also produces self-study videos that have been among the top sellers in the southeastern United States for the past several years. Jim regularly consults with CPA firms throughout the United States on a variety of accounting and auditing technical issues and serves as expert counsel in litigation manners.

This course offers an in-depth look at issues that practitioners have been having in implementing preparation, compilation and review engagements. It will also look deeply at the new SSARS proposal (mainly affecting reviews) that should be finalized in 2020 for 2021 implementation. The course also includes 15-20 new cases for 2020 covering all aspects of SSARS application including accounting, disclosure and reporting from the perspective of a local firm practitioner. Several new accounting standards are integrated into the new cases, including the new revenue recognition and leasing standards. It will also cover the proposed "Selected Procedures" (Agreed-upon Procedures "light") standard if that proposal is still being considered in 2020. A complete and thorough review of everything preparation, compilation and review for 2020 and beyond!

Learning Objectives

Identify the professional standards and risk factors relevant to the planning and performance of preparation, compilation, and review engagements, including engagements on pro forma and prospective financial information. Identify responses to preparation, compilation, and review engagement practice issues that comply with all applicable professional standards.

Major Topics

Overview of preparation, compilation, and review guidance Accounting and reporting issues Current practice issues Common deficiencies in peer reviews Current and future standard setting projects International reporting issues in SSARS engagements Special Purpose Framework financial statement issues Case studies Latest developments

CPE Credits Available

8 CPE

8: Accounting & Auditing

Things to Know About This Course

Course Level

Update

Professional Area of Focus

A & A
Compilation
Peer Review
Preparation
Review
SSARS

Prerequisites

Experience with engagements performed in accordance with SSARSs

Advanced Preparation

None

Intended Audience

CPA firm seniors (and above) managing engagements performed in accordance with SSARSs

Provider

Real World Seminars