GAAP Update (Completed)

Join Lewis Fisher as he walks through the updates to US GAAP impacting the 2023 calendar year end reporting period. We will look sequentially at the accounting standard updates and discuss implementation considerations for these standards. Additional time will focus on newly released auditing standards and how it will impact both the auditor and those under audit. Finally, discussion will be given to existing standards originating from the FASB’s Private Company Council and how these can streamline reporting requirements.

Who Should Attend
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.

Topics Covered

• Relevant accounting standards affecting 2023 calendar year end financial statements
• Audit standards update
• Private Company Council standards and application
• Adoption and disclosure requirements for 2023 year-end financial statements

Learning Objectives

• Identify recently issued Accounting Standards Updates
• Understand the requirements of the new Statement on Auditing Standards (SAS) 143 and SAS 145
• Recognize how to properly apply new accounting standards
• Identify areas where Private Company Council standards can be applied

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
Basic understanding of GAAP.

Advance Preparation
None