Accounting & Auditing Update and Review 2025
OL1559 | On Demand Course | Update | Self-Study
Description
This comprehensive 8-hour program, led by Jeff Sailor, provides CPAs and other financial professionals with a full update on the year's most important developments in accounting and auditing. The course highlights the latest FASB updates, new quality management standards, SSARS changes, audit risk assessment issues, and current fraud case studies. Along the way, Jeff incorporates his trademark video parodies to reinforce learning and keep participants engaged.
Participants will gain both technical updates and practical implementation strategies. Coverage includes cryptocurrency accounting, lease and common control arrangements, revenue recognition, stock compensation, income tax disclosures, and other key FASB pronouncements. In addition, the course walks through step-by-step approaches to applying the AICPA practice aids for implementing a system of quality management, updates on AR-C sections for SSARS engagements, COSO guidance for internal controls, and a review of significant recent fraud cases with lessons for practice.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Auditing |
| 4.00 | Accounting |
Designed For
CPAs, auditors, and other accounting professionals
Highlights
- FASB Conceptual Framework
- Revenue recognition post-implementation review (ASC 606)
- Stock compensation updates
- Leases and common control arrangements
- Joint venture formations under Topic 805
- Income tax disclosures (Topic 740)
- Fair value measurement clarifications
- Income statement expense disaggregation (Subtopic 220-40)
- Business combinations and consolidation guidance
- Debt with conversion and other options
- Crypto asset recognition and disclosure (Topic 350-60)
- SQMS 1, 2, and 3 requirements
- Risk assessment and system design
- Quality Standards - Documentation and monitoring using AICPA practice aids
- AR-C Sections 60, 70, 80, 90
- SSARS - Use of analytical procedures in reviews
- COSO Internal Control Integrated Framework
- Internal controls to prevent fraud
- 2025 fraud cases: Americans S.A., Patisserie Valerie, Kraft Heinz, IRS Practitioner Priority Service Line, Prager Metis
Objectives
At the end of this course, you will be able to:
- Identify and apply the most significant FASB updates affecting 2025 reporting.
- Implement new requirements for cryptocurrency and other digital assets.
- Apply the AICPA practice aids to design and document a system of quality management.
- Evaluate implications of lease accounting under common control arrangements.
- Analyze SSARS requirements for preparations, compilations, and reviews (AR-C 60, 70, 80, 90).
- Assess the COSO framework and apply it to risk assessment in audit engagements.
- Evaluate fraud risks through recent case studies and implement stronger controls.
- Apply improved income tax disclosure requirements and expense disaggregation guidance.
- Interpret and apply new accounting guidance for business combinations and joint ventures.
- Integrate best practices to enhance engagement quality and compliance with standards.
Notes
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Prices
- Member (Early Bird)
- $289.00
- Non-Member (Early Bird)
- $409.00
- Member
- $289.00
- Non-Member
- $409.00
Instructors
Jeff Sailor
Jeff Sailor, CPA, received a master's degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional "boring CPE." Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He's also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He's also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
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