- TX Credits : 8.0
Course Description - This course provides a look at the requirements for preparation and compilation engagements performed under SSARS. While both engagements are considered non-assurance engagements, only the compilation engagement is an attest engagement. A comparison of the two engagements will be provided in order to assist the accountant in determining which is the most appropriate engagement. Review engagements have been changed as a result of the issuance of SSARS 25. This course will review the changes and provide guidance on how practice will change. Reports issued under SSARS, including compilation reports will be discussed in this course. The process of preparing financial statements is dictated by the Applicable Financial Reporting Framework selected by management. This course not only explores the basic financial statements required under United States GAAP, but also covers the impact of the use of Special Purpose Frameworks. The FASB continues to issue guidance related to the simplification project that will ease financial reporting requirements. The upcoming lease standard and implementation guidance will be discussed both from the perspective of the industry and public accounting CPA. This course will address the major new FASB Standards as well as provide an overview of the recently issued auditing standards that will impact the audit report and ERISA audits.
1 day course covered in less depth than the 2 day course.
Gear Up is returning to in-person seminars during 2021 with a limited number of in-person offerings in select locations. For a listing of Gear Up sponsored in-person events click here.
Transfers/Cancellations - In light of the continually evolving COVID-19 situation, we've revised our cancellation policy to afford you the flexibility to confidently pursue the education you need. Click here for policy details.
We partner with sponsoring state associations to provide both live, in-person, and online seminars. To learn where you may reach your local partners click here.
Going virtual has never been easier and a better value!
Does not apply to association or society events.
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Identify the general principles presented in Section 60 of SSARS No. 21.
Identify the requirements of a preparation engagement.
Identify the requirements of a compilation engagement under SSARS No. 21.
Identify the requirements of a review engagement under SSARS No. 21.
Identify the requirements of SSARS No. 22-24.
Recognize the differences between compilation reports and review reports.
Recognize the requirements for the accountant’s report.
Identify the requirements for basic financial statements.
Identify the purpose of the statement of cash flows and determine when this statement is required.
Identify the requirements for reporting comprehensive income.
Compare financial statement and disclosure requirements to those of various special purpose financial framework financial statements and GAAP.
Identify recent FASB changes.
Recognize recent changes to auditing standards.