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Course/Product Description

2015 FASB, SSARS, & SAS Update & Review

Format: Self-Study Course
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2015 FASB, SSARS, & SAS Update & Review

The purpose of this online course is to inform the reader of the various changes affecting accounting, compilation and review, and auditing engagements including newly issued FASB and FASB statements, new statements issued by the Auditing Standards Board, changes in compilation and review, and more.

Learning Objectives:
After studying this course you should be able to:

  • Distinguish between a merger and an acquisition with a not-for-profit organization
  • Understand the rules for mergers and acquisitions
  • Review the disclosures required by FASB No. 164
  • Define the two types of subsequent events
  • Identify events that trigger the subsequent event rules
  • Identify non-recognition events
  • Understand the types of asset transfers that are subject to the FASB No. 166/140 rules
  • Learn the types of transfers that qualify for sale accounting
  • Understand how to account for a transfer of a participating interest
  • List the three conditions required to consolidate a VIE
  • Define a variable interest entity
  • Present the consolidated financial statements that include a variable interest entity
  • Categorize sources of GAAP into the new GAAP hierarchy
  • Learn about the simplified language used in the new Codification
  • Understand how to reference the new Codification in working papers
  • Learn the latest FASB Staff Positions (FSPs) and Accounting Standards Updates (ASU) issued in 2009 and 2010
  • Review the proposed changes to revenue recognition and financial statement display
  • Address the international convergence project
  • Learn the proposed changes to lease accounting
  • Understand the extensive changes made by SSARS No. 19
  • Learn how the new lack of independence disclosure rules apply to compilation engagements
  • Define the new term "review evidence"
  • Discuss the new documentation requirements for compilation and review engagements
  • Read SASs with an understanding of the professional requirements imposed on auditors;
  • Communicate internal control related matters in accordance with SAS No. 115
  • Discuss the requirements for a compliance audit
  • Apply the compliance requirements for different types of supplementary information found in SAS No. 119-120
  • Understand the importance aspects of fraud and fraud prevention
  • Implement the changes found in several new auditing standards.
  • Apply the requirements found in PCAOB AS7

Course Format

Your printed manual should arrive in the mail to you within 3-5 business days, unless you choose to upgrade to overnight shipping. The cutoff time for overnight orders is 12 noon.

Exam Format

After you have completed reviewing the text material, you may take your exam in our convenient, untimed online format. Tests average 5 questions for each CPE credit offered. For example, a CPE test worth 20 credits would include about 100 questions.

A score of 70% or better is required to pass this course, although there is no limit to the number of times you may take the exam in order to pass.

CPE Certification
When you successfully pass the exam, your Certificate of Completion will be displayed on the screen. Print it out on your printer by using the "Print" command in your web browser.

This course is accepted in all but the following states for CPE credit: FL, MN, MS, OR, SC, &TN.

Course Level: Basic
Prerequisites: None
Field of Study: Accounting

About the Author, Steven C. Fustolo, CPA:

Mr. Fustolo is a partner with the Boston CPA firm of James J. Fox &Company and Director of the National Tax Institute, Inc. He is a frequent lecturer and author of numerous tax and accounting issues affecting closely held businesses. An AICPA author, Mr. Fustolo's articles are regularly featured in The Practical Accountant and other publications.

He is the recipient of several Outstanding Discussion Leader awards from many professional organizations including the New York and Florida Societies of CPAs. Mr. Fustolo's course entitled FASB, SSARS and SAS Update and Review continues to receive accolades and is regarded as one of the top live CPE programs in the country today with ratings that average 4.91 on a scale of 5.0.

Mr. Fustolo is the recipient of the Elijah Watts Sells Award (AICPA) and Silver Medal (Massachusetts) for scores received on the CPA Examination.

Licenses / Designations / Educational Credits:CPE
Alabama: 24
Alaska: 24
Arizona: 24
Arkansas: 24
California: 24
Colorado: 24
Connecticut: 24
DC: 24
Delaware: 24
Georgia: 24
Hawaii: 24
Idaho: 24
Illinois: 24
Indiana: 24
Iowa: 24
Kansas: 24
Kentucky: 24
Louisiana: 24
Maine: 24
Maryland: 24
Massachusetts: 24
Michigan: 24
Missouri: 24
Montana: 24
Nebraska: 24
Nevada: 24
New Hampshire: 24
New Jersey: 24
New Mexico: 24
New York: 24
North Carolina: 24
North Dakota: 24
Ohio: 24
Oklahoma: 24
Pennsylvania: 24
Rhode Island: 24
South Dakota: 24
Texas: 24
Utah: 24
Vermont: 24
Virginia: 24
Washington: 24
West Virginia: 24
Wisconsin: 24
Wyoming: 24
About The Provider: JN Productions has been a self-study CPE provider since 1994. All of our CPE courses have been developed using national and state guidelines so that the material will be accepted nationwide for accounting CPE credit.

JN Productions is a NASBA Registry QAS provider and our courses are accepted by all 50 state Boards of Accountancy.

In addition:
-We are an IRS approved Continuing Education Provider.
-Our courses meet the CPE credit standards of the Institute for Management Accountants CMA designation. CMAs should choose courses from acceptable subject areas, as outlined in the IMA’s Continuing Education Requirements and Rules.

CPE Courses are offered in the following fields of study: Accounting, Auditing, Taxation, Management Advisory Services, Marketing, Administrative Practice, Finance, Business Law, Ethics, & Specialized Knowledge. All course are available as online courses or with optional printed workbooks.
Price: $199.00
Applicable Discounts:Required VolumeDiscountPrice
 Qty: 2$19.90$179.10
 Qty: 5$29.85$169.15
 Qty: 10$49.75$149.25
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