Webinars

Steven C. Fustolo, CPA

CPE: 5 CPEs (3 Accounting, 2 Auditing)

Monday, December 30, 2024
Check-in Begins: Dec 30, 2024 12:10 PM Eastern Time (US and Canada)
Official Start Time: 12:30pm-4:40pm

The objective of this course is to address key changes affecting accounting, compilation and review, and auditing engagements, as well as a review of selected other developments. The focus is on standards that affect year 2023, 2024 and beyond.

Topics Include:

• Discuss the new ASU 2016-13 relates to the computation of the trade receivable allowance for bad debts and new disclosures. NEW CHANGE
• Review newly issued ASU 2023-08 (Crypto assets) and ASU 2023-09 (income tax disclosures). NEW CHANGE
• Discuss post-implementation issues for the lease standard including options to avoid the lease standard. BIG PEER REVIEW ISSUE
• Review the special new election available for short-term, common-control leases under ASU 2023-01- Leases- Common Control Arrangements.
• Discuss the impact FinCEN Beneficial Ownership Information (BOI) assistance services may have on an accountant's independence in compilation, review and audit engagements. NEW
• Review the special new election available for common-control leases under ASU 2023-01- Leases- Common Control Arrangements.
• Briefly discuss new auditing standards found in SAS No. 143-149.
• Discuss new SSARS No. 26 for compilation, review and preparation engagements.
• Address a pending SSARS exposure draft.
• Review the Pass-Through Entity (PTE) Tax election accounting and disclosures issues and the authority for presenting the expense as an income tax expense
• Address accounting for late ERC elections and amendments.
• Review GAAP issues related to inflation and rising inflation rates, including bank loan covenants and defaults.
• Address the impact of rising interest rates on unrealized losses in securities
• Review the SEC ESG standards and whether they impact non-public company reporting.
• Explain small business LIFO using the PPI external index – in an inflationary market.
• Peer review issues.
• Learn about private company accounting and practice issues, and more.