In this course, we will look at the recent activities of the FASB, the Auditing Standards Board (ASB), and Accounting & Review Services Committee (ARSC) that impact small businesses. We will discuss the impact of the new standards and how you can prepare to implement them in a practical way. The course also includes a review of private company reporting alternatives including the AICPA’s Financial Reporting Framework for Small & Medium Entities (FRFSME) and IFRS for SMEs. We’ll close with a review of ethics interpretations impacting small businesses. This course is tailored to focus on topics primarily impacting smaller entities. It does not cover some of the more complex accounting requirements not commonly found in smaller entities.
BENEFITS
- Identify accounting standards impacting small business financial reporting.
- Describe the changes to audit standards that will impact the audits of small businesses.
- Recognize reporting options for small businesses.
HIGHLIGHTS
- Identifying private company ASUs effective this year
- Identifying how ethics interpretations are impacting small businesses
COURSE LEVEL
Update
PREREQUISITES
Prior Experience with US GAAP or GAAS
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.