• Course Information

    Title: FASB SSARS and SAS: An Update and Review for 2016
    Category: Accounting and Auditing
    Field of Study: Accounting 16 CPE and Auditing 8 CPE
    Course Code: A016-0252
    CPE Credits: 24.0
    Price: $119.95
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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 US GAAP

Advanced Preparation: None

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Course Details

Author: Steven C. Fustolo

Category: Accounting and Auditing

Field of Study: Accounting 16 CPE and Auditing 8 CPE

Passing Score: 70%

Publication Date: 04/25/2016

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Chapter 1:      ASU 2015-11 Inventory (Topic 330) Simplifying the Measurement of Inventory
1. Identify the measurement basis used to measure FIFO and LIFO inventories under ASU 2015-11
2. Recognize how to account for a recovery of an inventory writedowns in subsequent periods
3. Recall the method to be used to implement ASU 2015-11 for inventory

Chapter 2:     ASU 2015-17- Income Taxes (Topic 740)- Balance Sheet Classification of Deferred Taxes
1. Recall how to present a deferred tax asset on a balance sheet under ASU 2015-17
2. Recognize how to present deferred tax assets and liabilities on an unclassified balance sheet per ASU 2015-17
3. Identify the actions an entity should take to adopt ASU 2015-17 with respect to its deferred tax assets and liabilities

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QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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