|
Satisfying Client and CPA Firm Needs (3.5
Hours)
The objective of this section is to identify ways to maintain and
improve good communications with clients and partners. In the cases
there is an opportunity to critique actual practice situations
involving poor communications.
Applying Analytical Procedures (3.5 Hours)
This session emphasizes the value and uses of
analytical procedures for auditing and review services and how these
tests can be used to help a client run its business better as a part of
a client-services oriented approach. Participants will learn how to
correctly apply the requirements of SSARS and SAS 56 to clients through
several cases covering ratio analysis and analytical procedures.
Conducting Small Audits (3.5 Hours)
Previous learning about the financial accounting process, transaction
cycles, and the nature of generally accepted accounting principles will
be reinforced and applied to the audit of a small client. Understanding
the client and its industry, achieving desired levels of assurance,
assessing the potential risk of errors and fraud, designing the most
efficient audit approach and making management suggestions on small jobs
are all addressed in the case application.
Performing Review Service Engagements (6 Hours)
In this session participants explore both the SSARS requirements and
the practical problems encountered in applying them to compilations and
reviews. A major case study is used to help participants understand
differences in the nature and extent of procedures necessary for
completing reviews and compilations, including analytical procedures,
working papers and common GAAP problems. Participants will also learn
how to use review service engagement forms and checklists more
effectively.
Improving Corporate Tax Knowledge (3.5 Hours)
Completion of the major case in this module
requires that participants identify and resolve numerous tax issues in
order to determine a small business client's tax liability for the year.
A tax return preparation and review checklist for C corporations is
provided as an aid. Other cases in the module require that participants
solve problems involving unethical tax return preparation, methods of
depreciating assets and determining the appropriate form of a business
organization.
Drafting Financial Statements and Footnotes (4
Hours)
Participants will review and recommend changes in the format,
terminology and account groupings for a set of financial statements
included in a major case study. Adherence to firm policies and
utilization of professional judgment in adapting to varying
circumstances will be emphasized in full group discussion.
Using a reporting checklist, small groups of participants will also
organize and outline the contents of footnotes for the case study
financial statements. Participants will evaluate an accountant's report
for a review service engagement using the facts contained in the case
materials. They will also complete an engagement reporting exercise to
become familiar with the different types of reports needed under
differing circumstances.
Summary and Course Evaluation
Total Hours = 24
Note: Accredited CPE hours may vary from one accrediting agency to
another.
Back to Programs Listing | 