October 2017 Update of the AICPA Professional Literature
|
|
- Winifred Brown
- 6 years ago
- Views:
Transcription
1 ALERTS AND AICPA GUIDES October 2017 Update of the AICPA Professional Literature The 2017 edition of the following AICPA Guides is being released: Brokers and Dealers in Securities (aag-brd) In recent years the broker-dealer industry has undergone significant change. These changes add challenges for broker-dealers assessing their operations and internal controls for regulatory considerations. The 2017 edition gives you the up-to-date industry-specific guidance you need to be able to tailor your operations with the most current standards and regulations. From new best practices to interpretive guidance to industry-specific considerations, this guide has you covered. This edition offers best practice discussion of industry-specific issues such as fair value accounting and related disclosures, as well as compliance with regulatory requirements. Further, new guidance on initial margin has been approved in accordance with applicable AICPA requirements. SEC Release No , Amendment to Securities Transaction Settlement Cycle SEC Release No , Standards for Covered Clearing Agencies Coverage of regulatory updates from key industry regulators (SEC, CFTC, and FINRA) Illustrative sample compliance report and sample exemption report Comprehensive examples of financial statements, disclosures, and supplementary schedules Discussion and interpretive guidance associated with industry specific financial reporting and regulatory compliance Preparation, Compilation, and Review Engagements (aag-crv) Issued under the authority of Accounting and Review Services Committee (ARSC) and a go-to guide for accountants performing preparation, compilation and review engagements, this version contains the most upto-date guidance from ARSC. This version also contains some enhancive updates related to materiality in review engagements, professional skepticism, and more illustrative accountant s reports. Statement on Standards for Accounting and Review Services (SSARS) No. 22, Compilation of Pro Forma Financial Information (AICPA, Professional Standards, AR-C sec. 120) SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services 2016 (AICPA, Professional Standards) Authoritative guide Illustrative inquiry and analytics for review engagements Illustrative engagement letters for preparation, compilation and review engagements Illustrative representation letter for review engagements Page 1 of 5
2 Illustrative accountant s compilation/review reports on financial statements Illustrative engagement letter for a compilation of pro forma financial information Illustrative accountant s compilation report on pro forma financial information The updated 2017 edition of the following AICPA Guide is being released: Revenue Recognition (aag-rev) The October 2017 edition of this guide adds implementation issues for the following industries: Insurance Entities (chapter 14) Power and Utility Entities (chapter 15) Time-Share Entities (chapter 16) Additional implementation issues have also been included in the following chapters: Chapter 3, Aerospace and Defense Entities Chapter 5, Brokers and Dealers in Securities Chapter 6, Gaming Entities Chapter 9, Software Entities Chapter 13, Telecommunications Entities The 2017 edition of the following alert is being released: General Accounting and Auditing Developments 2017/18 (ara-gen) This alert contains a description of all recent auditing, accounting and regulatory developments, and ensures you have a robust understanding of the business, economic, and regulatory environments in which you and your clients operate. In addition, this alert ensures you have a full understanding of emerging practice issues, with targeted analysis of new developments and how they may affect your engagements, including recent economic trends, recent legislative and PCAOB developments, recent developments in peer review, and recent ethics interpretations. It also contains new accounting and auditing guidance related to derivatives and hedging, service concession agreements, discontinued operations, and stock compensation. Key features and benefits include discussion of the revenue recognition standard, discussion of the leases standard, discussion of the financial instruments standard, and common peer review findings. The following AICPA Guides contain minor editorial changes: Attestation Engagements on Sustainability Information (Including Greenhouse Gas Emissions Information) (aag-sust) Construction Contractors (aag-con) Page 2 of 5
3 Health Care Entities (aag-hco) Investment Companies (aag-inv) State and Local Governments (aag-slg) AUDIT AND ACCOUNTING MANUAL This update releases the following section: Section 8012, General Accounting and Auditing Developments 2017/18. This alert contains a description of all recent auditing, accounting and regulatory developments, and ensures you have a robust understanding of the business, economic, and regulatory environments in which you and your clients operate. In addition, this alert ensures you have a full understanding of emerging practice issues, with targeted analysis of new developments and how they may affect your engagements, including recent economic trends, recent legislative and PCAOB developments, recent developments in peer review, and recent ethics interpretations. It also contains new accounting and auditing guidance related to derivatives and hedging, service concession agreements, discontinued operations, and stock compensation. Key features and benefits include discussion of the revenue recognition standard, discussion of the leases standard, discussion of the financial instruments standard, and common peer review findings. BEST PRACTICES IN PRESENTATION AND DISCLOSURE This update releases the 2017 edition of the following product: U.S. GAAP Financial Statements Best Practices in Presentation and Disclosure (att-2017) With comprehensive coverage of virtually every required disclosure, this resource is designed to give you an unparalleled picture of U.S. GAAP compliance. Updated for new accounting and auditing guidance issued, this valuable tool provides hundreds of high quality disclosure examples from carefully selected U.S. companies of different sizes, across industries such as banking, credit and insurance, communication services, and healthcare from such organizations as Scotts Miracle-Gro, Coca-Cola, Caterpillar, and BB&T Don t spend your time searching for the most helpful example of a given disclosure, let AICPA s experts do the work for you. You ll find illustrations of the most important, immediate, and challenging disclosures, such as derivatives and hedging, consolidations, and fair value measurement. Hot topics include statement of cash flows, going concern, and business combinations and intangibles. This edition also provides clear, direct guidance to help you understand and comply with all significant reporting requirements and detailed indexes to help you quickly find exactly what you need. For auditors, this resource presents up-to-date auditors reports, fully in compliance with generally accepted auditing standards (GAAS). Save time and improve efficiency with the unrivaled presentation and disclosure examples found in U.S. GAAP Financial Statements. Time saving, as examples of financial statement disclosures are all in one location Page 3 of 5
4 Includes a sample auditor s report based on GAAS Discussion of the new accounting and auditing pronouncements Listing of most required disclosures Pronouncement index to help you find what you need faster FASB Accounting Standards Update (ASU) No , Income Statement Extraordinary and Unusual Items (Subtopic ): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items FASB ASU No , Interest Imputation of Interest (Subtopic ): Simplifying the Presentation of Debt Issuance Costs FASB ASU No , Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions (a consensus of the Emerging Issues Task Force) CHECKLISTS AND ILLUSTRATIVE FINANCIAL STATEMENTS PCAOB STANDARDS AND RELATED RULES PCAOB Staff Guidance This update adds Staff Audit Practice Alert No. 15, Matters Related to Auditing Revenue From Contracts With Customers (PCAOB Staff Guidance, sec ). PEER REVIEW PROGRAM MANUAL PRACTICE AIDS AND TOOLS PRINCIPLES AND CRITERIA FOR XBRL-FORMATTED INFORMATION AICPA PROFESSIONAL STANDARDS Statements of Position Auditing [AUD] This update issues Statement of Position (SOP) 17-1, Performing Agreed-Upon Procedures Related to Rated Exchange Act Asset-Backed Securities Third-Party Due Diligence Services as Defined by SEC Release No (AUD sec. 60), which is effective for agreed-upon procedures attestation engagements that include covered services accepted subsequent to December 31, This SOP will supersede Attestation Interpretation No. 1, Third-Party Due Diligence Services Related to Asset- Backed Securitizations: SEC Release No (AT-C sec. 9215), of AT-C section 215, Agreed-Upon Page 4 of 5
5 Procedures Engagements. TECHNICAL QUESTIONS AND ANSWERS Specialized Industry Problems: ERISA Reporting and Disclosures This update deletes Technical Questions and Answers (Q&A) section , Employee Benefit Security Administration Guidance on Insurance Company Demutualizations. Specialized Organizational Problems: Definition of a Public Business Entity This update adds Q&A section 7100, Definition of a Public Business Entity, along with the following Q&As: Q&A section , Use of the Term Security in the Definition of a Public Business Q&A section , Types of Securities Included in the Definition of a Public Business Q&A section , Use of the Term Over-the-Counter Market in the Definition of a Public Business Q&A section , Use of the Term Conduit Bond Obligor in the Definition of a Public Business Q&A section , FINRA TRACE and MSRB EMMA Data and a Public Business Q&A section , Use of the Phrase Contractual Restriction on Transfer and a Public Business Q&A section , Use of the Terms Prepare, Publicly Available, Financial Statements, and Periodic Basis in the Definition of a Public Business Q&A section , Application of the Definition of a Public Business Entity When Entities are Organized in Tiered Organizational Structures (Parent, Consolidated Subsidiaries, Nonconsolidated Entities, Guarantors, Equity Method Investees) Q&A section , Financial Statements or Financial Information Filed With the SEC and Considerations for Effective Dates and the Definition of a Public Business Q&A section , Accounting Standard Update Effective Dates and the Definition of a Public Business Q&A section , Evaluating the Definition of Public Business Entity for Financial Institutions Subject to Section 36 of the Federal Deposit Insurance Act and Part 363 of the FDIC Rules and Regulations Q&A section , Mutual Depository Institutions and the Definition of a Public Business Q&A section , Brokered Certificates of Deposit and the Definition of a Public Business Q&A section , Private Resales (Rule 144 and Rule 144A) and the Definition of a Public Business Q&A section , Insurance Companies and the Definition of Public Business Q&A section , Brokers, Dealers, and Futures Commission Merchants and the Definition of a Public Business SUPPORTING DOCUMENT COLLECTION Page 5 of 5
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Cash, Tax, and Other Bases of Accounting. Nineteenth Edition (August 2015)
Route To: j Partners j Managers j Staff j File P.O. Box 115008 Carrollton, TX 75011-5008 Tel (972) 250-7750 (800) 431-9025 Fax (888) 216-1929 tax.thomsonreuters.com LIST OF SUBSTANTIVE CHANGES AND ADDITIONS
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Construction Contractors. Thirtieth Edition (May 2018)
P.O. Box 115008 Carrollton, TX 75011-5008 Tel (972) 250-7750 (800) 431-9025 Fax (888) 216-1929 tax.thomsonreuters.com LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s to Construction Contractors Thirtieth
More informationAccounting & Auditing Update
Accounting & Auditing Update TCOSCPA Fall 2016 CPE Seminar Series November 9, 2016 Calvin Rowland, CPA Assurance Partner Accounting & Auditing Update FASB What FASB has been up to lately What was first
More informationAuthoritative Accounting and Reporting Standards For Employee Benefit Plans:
Authoritative Accounting and Reporting Standards For Employee Benefit Plans: FASB Accounting Standards Codification TM The EBPAQC has prepared this document to provide a general understanding of the source
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Auditor s Reports. Thirty-seventh Edition (August 2018)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Guide to Auditor s Reports Thirty-seventh Edition (August 2018) Highlights of this Edition The following are some
More information2018 FINANCIAL INSTITUTIONS OVERVIEW FOR KNOWLEDGE COACH USERS
2018 FINANCIAL INSTITUTIONS OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates and enhancements included in the current
More information2016 A&A Update November 14, 2016
2016 A&A Update November 14, 2016 Agenda Simplification Initiative Convergence Projects Financial Instruments Leases Revenue Recognition Attestation Update Simplification Initiative What is a simplification
More information2017 CIRA PREPARATIONS, COMPILATIONS AND REVIEWS OVERVIEW FOR KNOWLEDGE COACH USERS
2017 CIRA PREPARATIONS, COMPILATIONS AND REVIEWS OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates and enhancements
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. Twenty third Edition (August 2015)
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS Route To: Partners PPC's Guide to Managers Staff File Twenty third Edition (August 2015) Highlights of this Edition The following are some of the important update
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Audits of Nonpublic Companies. Thirty third Edition (February 2015)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Audits of Nonpublic Companies Thirty third Edition (February 2015) Highlights of this Edition The following
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC's Guide to Audits of Employee Benefit Plans. Twenty sixth Edition (February 2016)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Audits of Employee Benefit Plans Twenty sixth Edition (February 2016) Highlights of this Edition The following
More informationFASB Accounting Standards Codification. Editorial and maintenance update (roll-off) Released: July 5, 2017
FASB Accounting Standards Codification Editorial and maintenance update 2017-10(roll-off) Released: July 5, 2017 Editorial and other corrections that affect versioning of Sections for archive purposes:
More informationThird Quarter 2009 Reminders. Accounting and Reporting Matters
A & A Updates Third Quarter 2009 Reminders The following discussion is intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our clients in the
More information2018 HUD MULTIFAMILY HOUSING PROGRAMS OVERVIEW FOR KNOWLEDGE COACH USERS
PURPOSE 2018 HUD MULTIFAMILY HOUSING PROGRAMS OVERVIEW FOR KNOWLEDGE COACH USERS This document is published for the purpose of communicating, to users of the toolset, updates and enhancements included
More informationAccounting, Financial Reporting and Regulatory Developments for Public Companies
Accounting, Financial Reporting and Regulatory Developments for Public Companies SECOND QUARTER UPDATE 2017 The Quarterly Newsletter is a quarterly publication from EKS&H s Technical Accounting and Auditing
More informationAudit, Review, Compilation, and Preparation of Financial Statements
Audit, Review, Compilation, and Preparation of Financial Statements DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does
More information2015 PREPARATIONS, COMPILATIONS AND REVIEWS TITLES OVERVIEW FOR KNOWLEDGE COACH USERS
2015 PREPARATIONS, COMPILATIONS AND REVIEWS TITLES OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates and enhancements
More informationEKS&H Newsletter 2015 Second Quarter Update (Public Company)
EKS&H Newsletter 2015 Second Quarter Update (Public Company) This newsletter provides a summary of some of the more important 2015 second quarter accounting and financial reporting activities. The content
More informationCheckpoint - Accounting, Audit & Corporate Finance Library
Checkpoint - Accounting, Audit & Corporate Finance Library Accounting & Financial Statements Accounting and Auditing Disclosure Manual Accounting and Auditing Update Accounting and Reporting for Estates
More informationACCOUNTING UPDATE SSARS 21 5/18/2015. Karen McMurray & Siena Rambo
ACCOUNTING UPDATE Karen McMurray & Siena Rambo SSARS 21 Statements on Standards for Accounting and Review Services: Clarification and Recodification 1 SSARS 21 Issued October 23, 2014 Supersedes all AR
More informationFASB SSARS and SAS: An Update and Review for 2018
FASB SSARS and SAS: An Update and Review for 2018 Course Description The purpose of this course is to inform the reader of the various changes affecting accounting, compilation and review, and auditing
More informationEffective Dates of U.S. Accounting Pronouncements
Effective Dates of U.S. Accounting Pronouncements This appendix was prepared with a calendar year-end company in mind. Therefore standards with an effective date in 2014 have been included since many companies
More informationISG Bulletin. FASB Accounting Standard Codification
ISG Bulletin FASB Accounting Standard Codification FASB Accounting Standard Codification Introduction The purpose of this document is to familiarise the audit teams with the content and the structure of
More informationAPPENDIX 4H. Disclosure Checklist for Income Tax Basis Financial Statements. Financial Statement Date:
4 51 APPENDIX 4H Disclosure Checklist for Income Tax Basis Financial Statements Entity: Prepared by: Financial Statement Date: Date: Explanatory Comments This checklist includes the more common disclosure
More informationFirst Quarter 2014 Accounting, Reporting and Auditing Developments. A&A Updates
First Quarter 2014 Accounting, Reporting and Auditing Developments A&A Updates Issue 2014-07 April 9, 2014 Contents Accounting and Financial Reporting Matters... 3 FASB... 3 Accounting Standards Updates...3
More informationPRS-PA-0.1: LIST OF SUBSTANTIVE CHANGES AND ADDITIONS
PRS (9/15) 1 Index [WPRef] : LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Practice Aids for Audits of Real Estate Entities Second Edition (September 2015) Highlights of This Edition The following are
More informationPrivate Companies Practice Section. Avoid potholes. for a smooth ride to peer review. i Avoid potholes for a smooth ride to peer review
Private Companies Practice Section Avoid potholes for a smooth ride to peer review i Avoid potholes for a smooth ride to peer review Disclaimer: The contents of this publication do not necessarily reflect
More informationAccounting Standards Update. Mike Renzelman Shareholder, Accounting, Assurance and Advisory Services
Accounting Standards Update Mike Renzelman Shareholder, Accounting, Assurance and Advisory Services 1 Agenda FASB Private Company Council AICPA SEC PCAOB On the Horizon 2 FASB International Convergence
More informationSSARS No Update Part 2 Compilation and Review Standards
1 SSARS No. 21-23 Update Part 2 Compilation and Review Standards 7 Hours PDH Academy PO Box 449 Pewaukee, WI 53072 www.pdhacademy.com pdhacademy@gmail.com 888-564-9098 2 The purpose of this course is to
More informationFramework for Performing and Reporting on Compilation and Review Engagements
Compilation and Review Engagements 2509 AR Section 60 Framework for Performing and Reporting on Compilation and Review Engagements Issue date, unless otherwise indicated: December 2009 Source: SSARS No.
More informationACCOUNTING AND AUDITING UPDATE
THE PPC The PPC ACCOUNTING AND AUDITING Update, JANUARY 2013, Volume 22, No. 1 ACCOUNTING AND AUDITING UPDATE There s a New (Proposed) OCBOA in Town On November 1, 2012, the AICPA issued an exposure draft
More information2017 PREPARATION, COMPILATION, AND REVIEWS OF NOT-FOR-PROFIT ENTITIES TITLE OVERVIEW FOR KNOWLEDGE COACH USERS
2017 PREPARATIO, COMPILATIO, AD REVIEWS OF OT-FOR-PROFIT ETITIES TITLE OVERVIEW FOR KOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates
More information2017 Update on Audit and Attest Standards (SASs and SSAEs)
2017 Update on Audit and Attest Standards (SASs and SSAEs) Mike Glynn, CPA, CGMA mike.glynn@aicpa-cima.com Speaker Biography Michael P. (Mike) Glynn is a Senior Technical Manager in the AICPA Audit and
More informationARSC Meeting April 6-7, Statements on Standards for Accounting and Review Standards
ARSC Meeting April 6-7, 2009 Agenda Item 2B Statements on Standards for Accounting and Review Standards Chapter 1 Framework and Objectives for Performing and Reporting on Compilation And Review Engagements
More information2018 PREPARATIONS, COMPILATIONS AND REVIEWS OF CONSTRUCTION CONTRACTORS AND RELATED ENTITIES TITLES OVERVIEW FOR KNOWLEDGE COACH USERS
PURPOSE 2018 PREPARATIONS, COMPILATIONS AND REVIEWS OF CONSTRUCTION CONTRACTORS AND RELATED ENTITIES TITLES OVERVIEW FOR KNOWLEDGE COACH USERS This document is published for the purpose of communicating,
More informationNew Standards for Accounting and Review Services (SSARS 21) CPE Edition. Distributed by The CPE Store. Steven C. Fustolo, CPA
New Standards for Accounting and Review Services (SSARS 21) Steven C. Fustolo, CPA CPE Edition Distributed by The CPE Store www.cpestore.com 1-800-910-2755 New Standards for Accounting and Review Services
More informationWelcome To. Cecil Patterson, Jr., CPA
Welcome To CIRA Compilation and Review Update - 2010 Cecil Patterson, Jr., CPA Patterson & Associates, P. A. Post Office Box 2229 Ponte Vedra Beach, FL 32004-2229 (904) 285-4489 Fax (904) 285-1805 pat@pattersoncpafirm.com
More information100 Background Information
Page 1 of 27 Checkpoint Contents Accounting, Audit & Corporate Finance Library Editorial Materials Accounting and Financial Statements (US GAAP) Cash, Tax, and Other Bases of Accounting Chapter 1 An Introduction
More informationACCOUNTING AND AUDITING SUPPLEMENT NO
4 ACCOUNTING AND AUDITING SUPPLEMENT NO. 4-2016 INTRODUCTION This update includes the more significant accounting and auditing developments from October through November 2016. Included in this update
More informationSIGNIFICANT ACCOUNTING & REPORTING MATTERS
AN OFFERING FROM BDO S NATIONAL ASSURANCE PRACTICE SIGNIFICANT ACCOUNTING & REPORTING MATTERS Significant Accounting & Reporting Matters Second Quarter 2011 1 FOURTH QUARTER 2016 BDO is the brand name
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Guide to HUD Audits. Twenty-fourth Edition (September 2017)
Route To: j Partners j Managers j Staff j File P.O. Box 115008 Carrollton, TX 75011-5008 Tel (972) 250-7750 (800) 431-9025 Fax (888) 216-1929 tax.thomsonreuters.com LIST OF SUBSTANTIVE CHANGES AND ADDITIONS
More informationFASB Codification of GAAP. Awarding CPE for this session. September 24, :00pm Eastern. We ll be starting soon
FASB Codification of GAAP September 24, 2009 3:00pm Eastern We ll be starting soon If you experience any technical difficulties, please contact 888.228.4388 or support@learnlive.com Awarding CPE for this
More informationEffective Dates of U.S. Accounting Pronouncements
Effective Dates of U.S. Accounting Pronouncements This appendix was prepared with a calendar year-end company in mind. Therefore standards with an effective date in 2015 have been included since many companies
More informationAccounting and Financial Reporting Developments for Private Companies
Accounting and Financial Reporting Developments for Private Companies THIRD QUARTER 2018 In this update, we highlight some of the more important 2018 third-quarter accounting and financial reporting activities
More information^ÅÅçìåíáåÖ=oçìåÇìé c^p_=aéîéäçéãéåíë j~ó=nti=ommq FASB Issues Final FSPs q~ääé=çñ=`çåíéåíë
^ÅÅçìåíáåÖ=oçìåÇìé Deloitte & Touche LLP Audit and Enterprise Risk Services j~ó=nti=ommq q~ääé=çñ=`çåíéåíë FASB Developments FASB Issues Final FSPs FSPs FAS 141-1 and 142-1 FSP FIN 46(R)-4 Recent FASB
More informationSSARS 21 Implementation Strategies One Year Later
SSARS 21 Implementation Strategies One Year Later Kelly J. Hunter, CPA, Shareholder Fitts, Roberts & Co., P.C. kjh@fittsroberts.com DISCLAIMER Views expressed by AICPA employees and committee members are
More informationThird Quarter 2018 Standard Setter Update
Third Quarter 2018 Standard Setter Update Financial reporting and accounting developments (current through 30 September 2018) October 2018 To our clients and other friends This Third Quarter 2018 Standard
More informationTax Practitioner s Guide to Accounting and Reporting Issues (TPG)
Tax Practitioner s Guide to Accounting and Reporting Issues (TPG) Rebecca Lee, CPA (Licensed in Alabama and South Carolina) and Kenneth Heaslip, CPA (Licensed in New Jersey) TAX PRACTITIONER S GUIDE TO
More informationAuditing and Assurance Services, 15e (Arens) Chapter 2 The CPA Profession. Learning Objective 2-1
Auditing and Assurance Services, 15e (Arens) Chapter 2 The CPA Profession Learning Objective 2-1 1) The legal right to perform audits is granted to a CPA firm by regulation of: A) each state. B) the Financial
More informationACCOUNTING FOR UNDERWRITING AND LOAN COMMITMENTS
ACCOUNTING FOR UNDERWRITING AND LOAN COMMITMENTS Objective The objective of this paper is to discuss existing generally accepted accounting principles (GAAP) associated with commitments to lend money or
More informationAccounting and Financial Reporting Developments for Public Companies
Accounting and Financial Reporting Developments for Public Companies YEAR-END UPDATE 2017 The Quarterly Newsletter is a quarterly publication from EKS&H s Technical Accounting and Auditing Group. In the
More informationProposed SSARSs Amendment to SSARS No. 21 Section 90, Review of Financial Statements (Supplementary Information)
ARSC Conference Call Meeting September 9, 2016 Agenda Item 1 Proposed SSARSs Amendment to SSARS No. 21 Section 90, Review of Financial Statements (Supplementary Information) Objective of Agenda Item To
More informationNPO-CX-13: Nonprofit Organization Disclosure Checklist Updated through January 31, 2015
SPD 1 Index 340.10 : Nonprofit Organization Disclosure Checklist Updated through January 31, 2015 Organization: Society of Insurance Research Statement of Financial Position Date: 12/31/2015 Prepared by:
More information2018 PREPARATIONS, COMPILATIONS AND REVIEWS FOR NOT-FOR-PROFIT ENTITIES OVERVIEW FOR KNOWLEDGE COACH USERS
2018 PREPARATIONS, COMPILATIONS AND REVIEWS FOR NOT-FOR-PROFIT ENTITIES OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset,
More informationSIGNIFICANT ACCOUNTING & REPORTING MATTERS FIRST QUARTER 2017
SIGNIFICANT ACCOUNTING & REPORTING MATTERS FIRST QUARTER 2017 Significant Accounting & Reporting Matters First Quarter 2017 2 TABLE OF CONTENTS Financial Accounting Standards Board (FASB)... 3 Final FASB
More informationFourth Quarter 2013 Accounting, Reporting and Auditing Developments. A&A Updates
Fourth Quarter 2013 Accounting, Reporting and Auditing Developments A&A Updates Issue 2014-01 January 7, 2014 Contents Accounting and Financial Reporting Matters... 1 FASB... 1 Accounting Standards Updates...1
More informationAgenda Item 2A PROPOSED STATEMENT ON STANDARDS FOR ACCOUNTING AND REVIEW SERVICES REVIEW OF FINANCIAL STATEMENTS CONTENTS
ARSC Meeting August 21-23, 2012 Agenda Item 2A PROPOSED STATEMENT ON STANDARDS FOR ACCOUNTING AND REVIEW SERVICES REVIEW OF FINANCIAL STATEMENTS Introduction CONTENTS Prepared by: Mike Glynn (August 2012)
More informationSIGNIFICANT ACCOUNTING & REPORTING MATTERS
AN OFFERING FROM BDO S NATIONAL ASSURANCE PRACTICE SIGNIFICANT ACCOUNTING & REPORTING MATTERS Significant Accounting & Reporting Matters Second Quarter 2011 1 THIRD QUARTER 2016 BDO is the brand name for
More informationCertain investments in debt and equity securities
Financial reporting developments A comprehensive guide Certain investments in debt and equity securities (before the adoption of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial
More informationOn June 17, 2015, the Public Company Accounting Oversight Board (the Board or the
This document is scheduled to be published in the Federal Register on 09/22/2015 and available online at http://federalregister.gov/a/2015-24019, and on FDsys.gov 8011-01p SECURITIES AND EXCHANGE COMMISSION
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. Twenty-third Edition (September 2018)
GFS 9/18 Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Guide to Preparing Governmental Financial Statements Twenty-third Edition (September 2018) Highlights of
More informationCompilation & Review Standards (Updated for SSARS 21)
Compilation & Review Standards (Updated for SSARS 21) Authored by: David W. Holt, CPA, CFE www.holtcpe.com david@holtcpe.com 830-486-5222 COMPILATION & REVIEW STANDARDS This seminar has the following learning
More informationAudit and Accounting Guide. Health Care Entities
Audit and Accounting Guide Health Care Entities September 1, 2017 Audit and Accounting Guide Health Care Entities September 1, 2017 Copyright 2017 by American Institute of Certified Public Accountants,
More informationSpeaker Bio Cline Comer
AICPA Revision Project Audit and Accounting Guide, Health Care Organizations FICPA Annual Health Care Conference April 28-29, 2011 C. Cline Comer, CPA 1 Speaker Bio Cline Comer Cline Comer is a Partner
More informationSIGNIFICANT ACCOUNTING & REPORTING MATTERS
AN OFFERING FROM BDO S NATIONAL ASSURANCE PRACTICE SIGNIFICANT ACCOUNTING & REPORTING MATTERS Significant Accounting & Reporting Matters Second Quarter 2011 1 FOURTH QUARTER 2017 BDO is the brand name
More information2015 Update on Standards for Audits, Reviews, Compilations and Engagements to Prepare Financial Statements
2015 Update on Standards for Audits, Reviews, Compilations and Engagements to Prepare Financial Statements Mike Glynn, CPA, CGMA mglynn@aicpa.org Session Objectives Discuss current issues with respect
More information2015 Update on Standards for Audits, Reviews, Compilations and Engagements to Prepare Financial Statements Mike Glynn, CPA, CGMA
2015 Update on Standards for Audits, Reviews, Compilations and Engagements to Prepare Financial Statements Mike Glynn, CPA, CGMA mglynn@aicpa.org Session Objectives Discuss current issues with respect
More informationImplementing Revenue Recognition for Health Care Organizations S E P T E M B E R 2 1,
Implementing Revenue Recognition for Health Care Organizations S E P T E M B E R 2 1, 2 0 1 8 INTRODUCTIONS Kimberly McKay, CPA Managing Partner kmckay@bkd.com Implementing Revenue Recognition for Health
More information2018 GOVERNMENT ENTITIES OVERVIEW FOR KNOWLEDGE COACH USERS
2018 GOVERMET ETITIES OVERVIEW FOR KOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates and enhancements included in the current version.
More informationAccounting and Financial Reporting Developments for Public Companies
Accounting and Financial Reporting Developments for Public Companies SECOND QUARTER UPDATE 2018 The Quarterly Newsletter is a quarterly publication from EKS&H s Technical Accounting and Auditing Group.
More informationPlaying by the Rules: Accounting & Auditing Update 2016
Playing by the Rules: Accounting & Auditing Update 2016 Rachel Wallen, CPA, CFE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARD UPDATES (ASU)S 1 PREVIOUS RULES EFFECTIVE NOW Effective for
More informationAccounting and financial reporting activities for private companies
Accounting and financial reporting activities for private companies SECOND-QUARTER 2018 In this update, we highlight some of the more important 2018 second-quarter accounting and financial reporting activities
More informationEquity method investments
Financial reporting developments A comprehensive guide Equity method investments September 2015 To our clients and other friends Investors frequently enter into transactions in which they make significant
More informationGAAP Update. MI IASA 2015 Fall Conference
GAAP Update MI IASA 2015 Fall Conference Agenda Accounting Standards Updates (ASUs) Issued GAAP Insurance Updates Employee Benefit Plans Updates Updates on Known and Anticipated Projects 1 GAAP Guidance
More informationFrequently Asked Questions SSARS 23, Omnibus Statement on Standards for Accounting and Review Services 2016
Frequently Asked Questions SSARS 23, Omnibus Statement on Standards for Accounting and Review Services 2016 1. When is it effective? SSARS 23 was issued by the Accounting and Review Services Committee
More informationSegment reporting. Handbook US GAAP. October kpmg.com/us/frv
Segment reporting Handbook US GAAP October 2018 kpmg.com/us/frv Contents Foreword... 1 About this publication... 2 1. Executive summary... 4 2. Scope... 8 3. Identify the CODM... 13 4. Identify and aggregate
More informationAN OFFERING FROM BDO S NATIONAL ASSURANCE PRACTICE SIGNIFICANT ACCOUNTING & REPORTING MATTERS
AN OFFERING FROM BDO S NATIONAL ASSURANCE PRACTICE SIGNIFICANT ACCOUNTING & REPORTING MATTERS Significant Accounting & Reporting Matters Second Quarter 2011 1 FIRST QUARTER 2016 BDO is the brand name for
More informationFASB Update NEWLY EFFECTIVE & RECENTLY ISSUED PRONOUNCEMENTS, & BEYOND. FALL CPE DAY 2016 MARIE BRILMYER, DIRECTOR
FASB Update NEWLY EFFECTIVE & RECENTLY ISSUED PRONOUNCEMENTS, & BEYOND FALL CPE DAY 2016 MARIE BRILMYER, DIRECTOR mbrilmyer@cohencpa.com Overview Issued 2016 Effective 2016 Effective 2017 & Beyond On the
More informationLatest Developments in Accounting and Auditing for Not-for-Profits. Latest Developments in Accounting and Auditing for Not-for- Profits.
Latest Developments in Accounting and Auditing for Not-for-Profits May 4, 2010 Presenter: Angela Dunlap Partner, Grant Thornton LLP Latest Developments in Accounting and Auditing for Not-for- Profits Objectives
More informationSIGNIFICANT ACCOUNTING & REPORTING MATTERS SECOND QUARTER 2017
SIGNIFICANT ACCOUNTING & REPORTING MATTERS SECOND QUARTER 2017 Significant Accounting & Reporting Matters Second Quarter 2017 2 TABLE OF CONTENTS Financial Accounting Standards Board (FASB)... 3 Final
More informationAccounting and Auditing Update WBA/OBA CFO Conference PRESENTED BY: LOUISE HANSON, PARTNER, MOSS ADAMS LLP
Accounting and Auditing Update WBA/OBA CFO Conference PRESENTED BY: LOUISE HANSON, PARTNER, MOSS ADAMS LLP Accounting and Auditing Update LOUISE HANSON, BUSINESS ASSURANCE PARTNER Disclaimer The material
More informationSeptember 2014 Call Report Changes Goodwill & TDRs
September 2014 Call Report Changes Goodwill & TDRs Table of Contents EXECUTIVE SUMMARY... 3 GOODWILL ALTERNATIVE... 3 BACKGROUND... 3 DEFINITION OF A PUBLIC BUSINESS ENTITY... 3 Financial Institution Considerations...
More information2015 Thomson Reuters/PPC. All rights reserved.
Checkpoint Contents Accounting, Audit & Corporate Finance Library Editorial Materials Accounting and Financial Statements (US GAAP) Preparing Financial Statements Chapter 1 Basic Financial Statements and
More information2018 EMPLOYEE BENEFIT PLANS OVERVIEW FOR KNOWLEDGE COACH USERS
2018 EMPLOYEE BEEFIT PLAS OVERVIEW FOR KOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset, updates and enhancements included in the current
More information{Benefit Plan Technical Update.}
Recent Benefit Plan-related Accounting Standards Updates The Financial Accounting Standards Board (FASB) has issued three Accounting Standards Updates (ASU) that affect employee benefit plans. The first
More informationMaster limited partnership accounting and reporting guide. February 2017
Master limited partnership accounting and reporting guide February 2017 C Master limited partnership accounting and reporting guide Contents Introduction 1 What is an MLP? 2 Preparing for formation of
More informationEquity method investments and joint ventures
Financial reporting developments A comprehensive guide Equity method investments and joint ventures July 2016 To our clients and other friends Investors frequently enter into transactions in which they
More informationFinancial reporting briefs
December 2014 In this issue: Top story... 2 Accounting update... 3 Regulatory developments... 6 Other considerations... 8 Effective date highlights... 9 Reference library... 11 Financial reporting briefs
More informationAccounting & Auditing Update
Accounting & Auditing Update Rebecca Radell, Senior Manager Chris Hughes, Senior Manager Moss Adams Presenters Rebecca Radell, Senior Manager 209.955.6136 rebecca.radell@mossadams.com Rebecca has practiced
More information100.2 AR C 70does not apply when the accountant prepares financial statements to be
Checkpoint Contents Accounting, Audit & Corporate Finance Library Editorial Materials Accounting Services SSARS Preparation Engagements Chapter 1 Introduction and Background 100 Introduction 100 Introduction
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC's Guide to Write Up Services. Twenty third Edition (November 2015)
Route To: Partners Managers Staff File General Update Features LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Write Up Services Twenty third Edition (November 2015) The following are some of
More informationQuarterly Accounting Roundup: Important developments with a special focus on non-gaap measures The Dbriefs Financial Reporting series Bob Uhl,
Quarterly Accounting Roundup: Important developments with a special focus on non-gaap measures The Dbriefs Financial Reporting series Bob Uhl, Partner, Deloitte & Touche LLP Christine Mazor, Partner, Deloitte
More information2018 PREPARATIONS, COMPILATIONS AND REVIEWS OF REAL ESTATE ENTITIES TITLES OVERVIEW FOR KNOWLEDGE COACH USERS
2018 PREPARATIONS, COMPILATIONS AND REVIEWS OF REAL ESTATE ENTITIES TITLES OVERVIEW FOR KNOWLEDGE COACH USERS PURPOSE This document is published for the purpose of communicating, to users of the toolset,
More informationAccounting, financial reporting, and regulatory developments for public companies
Accounting, financial reporting, and regulatory developments for public companies SECOND QUARTER 2018 In this update, we highlight some of the more important 2018 second-quarter accounting, financial reporting,
More informationIFRS compared to US GAAP: An overview
compared to GAAP: An overview November 2014 kpmg.com/ifrs KPMG s Global Institute KPMG s Global Institute provides information and resources to help board and audit committee members gain insight and access
More informationFASB/IASB UPDATE AAPA Port Finance Seminar. Norfolk Virginia. June John Brozovsky
1 FASB/IASB UPDATE 2010 AAPA Port Finance Seminar Norfolk Virginia June 8-10 2010 John Brozovsky jbrozovs@vt.edu 2 Outline Codification IFRS Convergence SEC Roadmap Private company (SME) reporting Proposed
More informationChapter 2 Professional Standards
True/False Questions 1. The generally accepted auditing standards of field work include a requirement that the auditors obtain sufficient competent evidential matter. Answer: True Difficulty: Easy 2. The
More informationFINANCIAL INSTITUTIONS REMINDER CHECKLIST. REV REC 606 Implementation
FINANCIAL INSTITUTIONS REMINDER CHECKLIST REV REC 606 Implementation 2 FINANCIAL INSTITUTIONS REMINDER CHECKLIST Reminder Checklist This document is intended to be used as a reminder of ASC 606 requirements
More informationKnowledge-Based Audits, Compilations, and Reviews of Common Interest Realty Associations are designed around the
2014 Knowledge -Based Audits, Compilations, and Reviews of Common Interest Realty Associations Welcome to 2014 Knowledge-Based Audits, Compilations, and Reviews of Common Interest Realty Associations,
More informationRBC CAPITAL MARKETS, LLC & SUBSIDIARIES (An indirect wholly-owned subsidiary of Royal Bank of Canada) (SEC I.D. No )
RBC CAPITAL MARKETS, LLC & SUBSIDIARIES (An indirect wholly-owned subsidiary of Royal Bank of Canada) (SEC I.D. No. 8-45411) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION AS OF APRIL 30, 2016 (UNAUDITED)
More information