Dates & Locations
Th 11/10 Costa Mesa
F 2/3 Pasadena
Classes meet
9:00am-5:00pm
taught by
Mark Dauberman
Only $248!
Lunch is included with 8-hour classes
8 CPE Hours
Update
No Prerequisites
No Advance Preparation
Intermediate
(NASBA: AC, AU)
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The standard setters have not been idle over the last year or so, and this program is designed to bring you up to date. There were 30 Accounting Standards Updates issued by the FASB in 2010 and 2011 is not far behind. In addition, the Auditing Standards Board (ASB) has been keeping itself busy, not only in the development of new standards, but also in the re-writing of existing standards.
As part of its clarity project, the ASB is redrafting all of the risk assessment standards and several others. One goal is to make it clearer to practitioners what is required in an engagement as opposed to suggestions as to how the requirements may be accomplished. Although the redrafted standards are not intended to change the substance of how an audit is performed, they will change how auditors will interpret and apply them.
This course will review the Accounting Standard Updates issued by the FASB in 2010 and, to date, in 2011. Numerous topics will be addressed, including:
- Fair value
- Health care
- income taxes
- Financial instruments
- Variable interest entities
In addition to the pronouncements issued, there are numerous significant exposure drafts that, if issued as pronouncements, will have a significant impact on financial reporting. Exposure drafts that will be covered in this program will include:
- Revenue recognition
- Leases
- Financial statement presentation
This course will also review all pronouncements of the ASB as well as significant exposure drafts. Discussion will include an understanding of the requirements as well as what a practitioner must do to comply. The emphasis will be on assuring compliance with standards, maximizing audit effectiveness, and improving audit efficiency.
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