Webinars

Steven C. Fustolo, CPA

CPE: 5 CPEs (3 Accounting, 2 Auditing)

Tuesday, June 18, 2024
Check-in Begins: Jun 18, 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 that is effective in 2023 relates to the computation of the trade receivable allowance for bad debts. NEW
• Review newly issued ASU 2023-08 (Crypto assets) and ASU 2023-09 (income tax disclosures). NEW
• Discuss post-implementation issues for the new lease standard including how to handle related party leases, and approaches to avoid the lease standard. BIG PEER REVIEW ISSUE
• Review the special new election available for related party leases under ASU 2023-01- Leases- Common Control Arrangements.
• Learn about the new auditing standards found in SAS No. 143-149, some effective in 2023 year-end audit engagements.
• Address the new 2024 fraud Report to the Nation.
• Discuss new SSARS No. 26 for compilation, review and preparation engagements.
• Learn 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 the new IRS withdrawal program.
• Review GAAP issues related to inflation and rising inflation rates, including bank loan covenants and defaults.
• Learn about the proposed required disclosures of certain operating expenses.