Monthly Accounting and Auditing Update (Original Air Date: 9/28/21) (MA06)

Overview

The one constant in life is change. This is true in the A&A world as well. 2021 will continue to challenge the accounting profession in many areas, including accounting for the impact of the COVID-19 pandemic, working in a virtual environment, and implementing new AICPA and FASB pronouncements. In this monthly series, we will explore the hot topics and current events that are driving financial accounting today, such as auditing and SSARS standards implementation and getting ready for ASC 842 implementation. Through detailed discussion of new standards and commentary from relevant industry experts, this monthly update will keep you up to date on what you need to know in the accounting world.

So, whether your area of specialty is employee benefit plans, leases, not-for-profit and governmental accounting or something else, this monthly hour will give you what you need to know to do your job as effectively as possible.

Major Topics:

• New professional standards issued by the FASB and AICPA
• Guidance on likely COVID-19-related accounting issues that you are likely to face
• Insights on best practices in managing new working environments
• Other topics of importance for all accounting practitioners

Learning Objectives:

• Identify new standard-setting activities by the FASB and AICPA
• Review relevant guidance in COVID-19-related accounting topics
• Recall strategies for working effectively and complying with professional standards in a changing work environment
• Identify key success factors for the upcoming busy season