2024 GAAP Update
Author: Lewis R. Fisher
| CPE Credit: |
2 hours for CPAs |
Join Lewis Fisher as he walks through the updates to US GAAP impacting the 2023 calendar year end reporting period. We will look sequentially at the accounting standard updates and discuss implementation considerations for these standards. Additional time will focus on newly released auditing standards and how it will impact both the auditor and those under audit. Finally, discussion will be given to existing standards originating from the FASB’s Private Company Council and how these can streamline reporting requirements.
Publication Date: May 2024
Designed For
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.
Topics Covered
- Practitioner Matters
- Relevant Audit Updates Impacting the Profession
- FASB Agenda Priorities
- Revisit CECL
- Employee Retention Credit Accounting Considerations
- 2021 to 2024 Accounting Standards Updates
Learning Objectives
- Identify recently issued Accounting Standards Updates
- Understand the requirements of the new Statement on Auditing Standards (SAS) 143 and SAS 145
- Recognize how to properly apply new accounting standards
- Identify areas where Private Company Council standards can be applied
- Identify an agenda item added in 2022 that is unlikely to see resolution in 2024
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic understanding of GAAP.
Advance Preparation
None
