2024 Accounting & Auditing Update for Small Businesses
4.00 Credits
Member Price $149
Non-Member Price $169
Overview
For many small businesses, the standards issued by the FASB may have little to no effect as they impact topics that do not reflect the type of transactions that these entities most frequently experience. This class will focus on the Accounting Standards Updates (ASUs) that are most likely to impact small businesses with a focus on ASUs initiated by the Private Company Council (PCC). We’ll then look at alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs for entities who don’t necessarily need to prepare GAAP financial statements but want to use accrual accounting. Finally, we will transition to audit standards that small business auditors will need to implement. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics that will be covered in this course include:
- Accounting Standards Updates (ASUs) that are most likely to impact small businesses
- ASUs initiated by the Private Company Council (PCC).
- Alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs
- Audit standards that small business auditors will need to implement.
Prerequisites
Prior experience with GAAS & GAAP
Designed For
Accountants in public practice or industry
Objectives
After attending this presentation, you will be able to...
- Recall ASUs impacting small businesses
- Identify reporting options for small entities other than GAAP
- Recognize the changes to quality required of small firms
Preparation
None
Leader(s):
Leader Bios
Melisa Galasso, Galasso Learning Solutions
Melisa Galasso, CPA is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She also supports essential professional development, audit level training, and train the trainer efforts. Melisa is a Certified Speaking Professional (CSP), a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB’s Not-for-Profit Advisory Committee (NAC) and AICPA Council. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors and is a past-Chair of the NCACPA’s A&A committee. Melisa also authors the Money Matters for Nonprofits and serves as a SME for the Center for Plain English Accounting.
Non-Member Price $169
Member Price $149