2025 Accounting and Auditing End-of-Year Tune-up

This session will cover the recently issued Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs) for 2024 and 2025 as appropriate. The presentation will also cover any new Exposure drafts issued. In addition, this session will deal with earlier standards that have deferred the effective dates for standards and changes brought about by the PIRs (Post Implementation Reviews). This presentation will also cover any new SASs or SAS Exposure Drafts coming in the next year or two. Further, additional information that FASB and ASB offers that is considered important and relevant is dealt with. This includes meetings, news releases and anticipated developments.

Who Should Attend
Any professional accountant that has a need to remain current on FASB releases and developments for generally accepted accounting principles (GAAP) and GAAS should attend this session. This includes those in public accounting, business, nonprofit organizations, education, and other areas.

Topics Covered

• New issues of Accounting Standards Updates (ASUs) from the FASB
• New Changes to GAAP and effective dates
• Revised disclosure standards from revised Audit Standards
• Revised accounting issues and schedules for exposure drafts
• New FASB actions and/or other pronouncements
• Other matters deemed appropriate and timely

Learning Objectives

• Recognize and apply new GAAP releases from the FASB
• Identify and apply the issues in the new Accounting Standards Updates from the FASB
• Recognize and apply new GAAS releases from the AICPA’s ASB
• Recognize any potential changes to future GAAP and GAAS

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
Basic knowledge of FASB, GAAP. ASB, and GAAS

Advance Preparation
None