FASB
SURGENT McCOY'S 2007 FASB/SAS UPDATE COURSE
To familiarize participants with those FASB statements
and SAS pronouncements that impact local CPA firms. Course content will
emphasize those issues most relevant to smaller firms with no SEC clients.
Coverage will reflect the most recently issued authoritative literature
and will illustrate implementation issues and reporting alternatives.
Major topics include:
- FASB overview
- Fair value accounting: where and how to use fair value; SFAS No. 157; Exposure Draft: the fair value option; implications for closely-held companies
- Internal control and financial reporting: ASB and PCAOB internal control; COSO and small companies; SAS No. 112 on internal control reporting; tone at the top and closely-held companies
- FIN No. 48 and uncertain tax provisions: tax return vs. financial statements; when and how to recognize liabilities; small firm implications
- Current issues: accountants’ legal liability; private company financial reporting; internal control reporting: PCAOB
- Compilation and review update: review of recently issued SSARs; SSASR and SAS: recent proposals; practice issues
- Recent FASB developments: SFAS No.157 and developments; business combinations and non-controlling interest; pensions and post-retirement benefits; not-for-profit exposure drafts
- Risk-based auditing: how are SAS 104 through 111 working in practice
- Private company financial reporting
- Auditing standards update
Designed for: Staff members of small- to medium-sized firms
and personnel in nonpublic firms who are involved with FASB or SAS applications.
Level of knowledge: Update
Field
of study: Accounting
and Auditing
Please note:
The 2007 version of this course is available beginning on Sept. 1, 2007.
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