Pick up tips for increased efficiency, and hear about the most pressing issues in A&A and compilations and reviews from leading industry experts.
DESIGNED FOR
Whether you are a CPA in public practice or private accounting, this conference is a must to keep you one step ahead in a constantly changing business environment.
HIGHLIGHTS
Agenda
8-8:30 a.m.
Registration and Continental Breakfast
8:30-10:10 a.m.
FASB Update - Part 1
John M. Fleming, CPA, MBA
Part 1 of this session will address implementation issues and business implications
associated with applying the new revenue and lease accounting standards. For non-public
entities, ASU 2014-09 Revenue from Contracts with Customers is effective January 1, 2019
and ASU 2016-02 Leases is effective January 1, 2020.
10:10-10:25 a.m.
Break
10:25 a.m.-12:05 p.m.
FASB Update - Part 2
John M. Fleming, CPA, MBA
Part 2 of this session will provide an overview of changes made by FASB’s Accounting Standard
Updates from the period June 2016 through June 2018.
12:05-12:55 p.m.
Lunch Break
12:55-2:35 p.m.
Concurrent Session 1. Please Choose One.
1A. Revenue Recognition - ASU 2014-09, As Amended, Revenue from Contracts with Customers
John M. Fleming, CPA, MBA
This session will overview the new revenue standard and identify and apply the new five-step
revenue recognition model as well as describe and illustrate the new revenue disclosure
requirements for both public and non-public entities.
1B. Issues Associated with Tax Basis Presentations
Kenneth A. Heaslip, CPA, MBA
This session will address the presentation and disclosure of tax basis financial statements,
including the impact of the new tax law. It will include a discussion on the various options
and factors in determining the appropriateness of preparation, compilation, and review
reporting.
1C. Current Practice Issues in Peer Review
Rebecca M. Lee, CPA
Peer Review this year? Again, so soon? This “not to miss” session will address the most
common peer review matters as identified by the AICPA and the PCAOB. Even though these
deficiencies are common doesn’t mean they are new. However, they can contribute to a
non-conforming engagement which can result in peer review results of pass with deficiency
or worse, a failed peer review. Don’t fall victim to these deficiencies. Join this
session to explore the issues and find common sense solutions.
2:35-2:50 p.m.
Break
2:50-4:30 p.m.
Concurrent Session 2. Please Choose One
2A. DOL Update Including New Audit Report Letter and Procedures
Rebecca M. Lee, CPA
Significant changes are coming soon to your Employee Benefit Plan Audits!
Don’t miss this critical update. The Department of Labor’s influence and oversight
continues on Employee Benefit Plan audits with the new (proposed) audit standard.
The limited scope audited, while allowed by DOL, has long been considered a significant
risk to auditor. Much of the risk can be attributed to misunderstanding by plan sponsors,
fiduciaries and auditors of their respective responsibilities. Clarification has been
needed and this standard will provide a better understanding of each parties’
responsibility. The auditor report letter, engagement letter and representation letter
will see significant changes while documentation of new specific procedures will be
required to ensure that adequate evidence is accumulated to support the report.
2B. Deceptive Accounting Practices
Kenneth A. Heaslip, CPA, CGMA
This session will cover various deceptive accounting practices and the CPAs role in
identify frauds and assisting in the implementation of controls to avoid them.
It will include a discussion on how financial statements will be impacted by the new
revenue recognition standard and how to be prepared for the misapplication of such
standards.
2C. Revenue Recognition - ASU 2014-09, As Amended, Revenue from Contracts with
Customers (Repeated)
John M. Fleming, CPA, MBA
This session will overview the new revenue standard and identify and apply the new five-step
revenue recognition model as well as describe and illustrate the new revenue disclosure
requirements for both public and non-public entities.
COURSE LEVEL
Intermediate
Help Feed Those in Need
- The NJCPA Emerging Leaders Council is hosting a Food Drive to benefit the Community FoodBank of New Jersey. Please bring your nonperishable items and canned goods to this event. Peanut butter and tuna fish are always needed.