This course has significantly changed for the better the lives of a significant number of practitioners and their clients. Participants will learn a step-by-step process for performing an annual personal financial health checkup for themselves, family members, employers, and, if in the practice of accounting, their clients. This course is loaded with practical aids to enable CPAs to help individuals get a "great" financial health checkup result! This course will enable practitioners to add a huge value to their tax preparation services. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation you will be able to...
- Identify common mistakes in the preparation of financial statements for small- and medium-sized entities
- Handle common principle departures in the financial statements of small- and medium-sized entities
- Recall common footnote disclosures in small- and medium-sized entities
- Recognize the new lease accounting standard implementation issues
Major Topics
The major topics that will be covered in this class include:
- AICPA auditing standards issued during the 18-month period prior to the program that impact audits of Small- and Medium- sized entities (SMEs)
- The new SAS 145 risk assessment requirements
- The new SAS 134 as amended audit reports
- How to fulfill responsibility to detect fraud under AU-C Section 240
- How to help clients design, implement and maintain their internal controls
- Troublesome areas in the audits of Small- and Medium-sized Entities (SMEs) as identified in peer reviews and litigation
- How to perform profitable audits of Small- and medium-Sized Entities (SMEs)
