2023 Accounting and Auditing Update

Author: Lewis R. Fisher

Join Lewis Fisher as he walks through the updates to US GAAP impacting the 2023 calendar year end reporting period. We will look sequentially at the accounting standard updates and discuss implementation considerations for these standards. Additional time will focus on newly released auditing standards and how it will impact both the auditor and those under audit. Finally, discussion will be given to existing standards originating from the FASB’s Private Company Council and how these can streamline reporting requirements.

Publication Date: October 2023

Designed For
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.

Topics Covered

• Practitioner Matters
• Relevant Audit Updates Impacting the Profession
• FASB Agenda Priorities and Private Company Council
• Key Standards Effective in 2023
• Employee Retention Credit Accounting Considerations
• 2023, 2022, and 2021 Accounting Standards Updates

Learning Objectives

• Identify recently issued Accounting Standards Updates
• Identify the requirements of the new Statement on Auditing Standards (SAS) 143 and SAS 145
• Recognize how to properly apply new accounting standards
• Identify areas where Private Company Council standards can be applied

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
Basic understanding of GAAP.

Advance Preparation
None