• Course Information

    Title: FASB SSARS and SAS: An Update and Review for 2021
    Category: Accounting and Auditing
    Field of Study: Accounting 16 CPE, Auditing 8 CPE
    Course Code: A021-0252
    CPE Credits: 24.0
    Price: $109.95
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Description

Description:
The purpose of this course is to inform the reader of the various changes affecting accounting, compilation and review, and auditing engagements as well as a review and recall of existing standards. Topics include a summary of newly issued FASB statements, new statements issued by the Auditing Standards Board, changes in compilation and review, current and pending developments, practice issues, and more.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: Basic understanding of U.S. GAAP, compilation and review, and auditing standards

Advanced Preparation: None

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Course Details

Author: Steven C. Fustolo

Category: Accounting and Auditing

Field of Study: Accounting 16 CPE, Auditing 8 CPE

Passing Score: 70%

Publication Date: 05/13/2021

Technical Details: Accounting and Auditing: Technical

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Objectives

Objectives:
Chapter 1:     Accounting and Financial Reporting for COVID-19 and the CARES Act
1. Recognize some types of concentrations that might require disclosure under the risk and uncertainty rules
2. Identify the definition of near term
3. Recall the frequency in which an entity should test goodwill for impairment
4. Recognize some exit and disposal costs
5. Recall how to classify business interruption insurance proceeds on the financial statements
6. Identify the benchmark used to determine going concern
7. Recognize how to report on going concern
8. Identify a method that can be used to measure variable consideration revenue
9. Recognize an example of a construction-type contract
10. Identify an advantage of remote auditing
11. Recall how to present debt issuance costs in the financial statements
12. Recognize how to account for PPP loan forgiveness
13. Identify how to treat the forgiveness of a PPP loan for tax purposes, and
14. Identify an example of a circumstance in which an emphasis-of-matter paragraph might be necessary.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA

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