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CPE Self-Study

Accounting and Auditing Update for Small Businesses

  • $149.00-$189.00
    Accounting and Auditing Update for Small Businesses In Stock Product #: 746143
    AICPA Member: $149.00
    Non-Member: $189.00
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    Accounting and Auditing Update for Small Businesses Online Access Product #: 164052
    AICPA Member: $139.00
    Non-Member: $179.00
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With the rate of change in today's regulatory environment, you must stay current on the topics affecting the profession. Your clients are counting on you! Geared toward practitioners who provide accounting and auditing services to small businesses, this CPE course updates you on the new accounting, auditing, compilation, preparation, and review standards, and other professional guidance that affects small businesses and their auditors.

Updated from the previous year, this comprehensive course features FASB Accounting Standards Updates (ASUs) issued from 2016 through March 2017. The course covers topics such as revenue recognition, leases, and financial instruments, as well as intangible assets, consolidation, and statement of cash flows. Further, recently issued Statement on Auditing Standards (SAS) Nos. 130 through 132 and recently issued auditing interpretations, recently revised Statements on Standards for Attestation Engagements (SSAEs), and an overview of Statement on Standards for Accounting and Review Services (SSARS) Nos. 22 and 23 are also a focus of the course. Materials include practical applications of the topics covered to help you understand and apply the standards to real-life scenarios.

For revenue recognition, delaying implementation will likely result in some companies accounting for revenues under two methods, depending on the adoption approach taken. In addition, delayed implementation may result in retroactively recalculating revenue once the new standard becomes effective.

Learning Objectives

This course will prepare you to do the following:

  • Understand recently issued FASB standards and guidance.
  • Assess the effect of recently issued auditing standards, attestation standards, and standards on accounting and review services.
  • Become familiar with exposure drafts and other projects in accounting, auditing, compilation, preparation, and review services.

Key Topics

  • Accounting and attestation standards updates, with a focus on revenue recognition, financial instruments, and leases
  • Attest Clarity Project
  • ARSC Clarity Project
  • Private company financial reporting
  • Impact of the current environment on audit planning

Who Will Benefit?

  • CPAs who require a comprehensive review of recent accounting and auditing pronouncements

System Requirements

About the Authors

Kurt G. Oestriecher, CPA

Alexandria, Louisiana

Mr. Oestriecher has been employed by Oestriecher & Company; CPA's since 1986 and has been partner in charge of accounting and auditing services since 1994. He has also served as an Adjunct Instructor of Accounting at Louisiana State University at Alexandria and Northwestern State University.

Kurt functions in many capacities for the Louisiana Society of CPAs on its board and varying committees. He is Past President of the LCPA and past President of the Central Louisiana Chapter of Society of Louisiana CPAs. He is currently chair of the LCPA Professional Ethics Committee. He is a member of the AICPA and has served on the Accounting and Review Services Committee, which issues the Statements on Standards for Accounting and Review Services. He also served a six year term on the AICPA Joint Trial Board, and recently completed a three year term on AICPA Council

He received the Outstanding Discussion Leader Award from the Louisiana Society of CPAs in 1998, 2006, and 2010, and the AICPA Outstanding Discussion Leader Award in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, and 2015.

Mark Beasley, PhD, CPA

Mark S. Beasley is the Deloitte Professor of Enterprise Risk Management and Director of NorthCarolina State's Enterprise Risk Management (ERM) Initiative, which provides thought leadership about ERM practices and their integration with strategy and corporate governance.

In 2012, Mark was named by the National Association of Corporate Directors (NACD) as one of the “100 People to Watch.? He recently completed over seven years of service on the board for the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Mark is a frequent speaker at national and international conferences and frequently works with boards of directors and senior executives on risk oversight issues. He teaches courses related to enterprise risk management, risks and controls, and auditing in the graduate and executive education programs.

Mark has authored over 80 research articles and business publications and he is the author of a leading auditing textbook. Prior to joining NC State, Mark served as a Technical Manager in the Audit and Attest Division of the AICPA and as an Audit Manager in the Nashville, TN office of Ernst & Young. He received a BS in accounting from Auburn University and a Ph.D. from Michigan State University.

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the worlds largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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