This course will cover in-depth the new “Preparation” engagement now contained in the SSARS literature. Participants will also learn the details of new accounting standards for leases, flexible financial statement format for not-for-profit organizations, and uncertainties about an entity’s ability to continue in existence.
Course ID: SSARSPIU
SSARS Professional Issues Update
- Recognize the difference between a “preparation” engagement and a compilation engagement and its suggested uses
- Distinguish between an operating versus financing lease and which new financial statement formats will be acceptable for not-for-profit organizations
- Assess how going-concern issues affect year-end financial statement reporting
- Preparation versus Compilation Engagement
- New Lease Standard Including Balance Sheet and Income Statement Effects
- Flexible Financial Statement Formats for Not-for-Profit Organizations
Who Should Attend
CPAs who perform compilation engagements; and Chief Financial Officers, Controllers and other senior accounting staff personnel with responsibility for leasing activities and financial statement preparation
Fields of StudyAccounting
Participants in public accounting should have a general knowledge of current compilation and review professional standards. Participants in public accounting, as well as those in other industries/areas, should be familiar with current leasing standards and be involved in the preparation of financial statements for Not-for-Profit organizations.