Join Lewis Fisher as he walks through the updates to US GAAP impacting the 2024 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.
Who Should Attend
Anyone with financial reporting responsibilities and those in public accounting serving clients who utilize US GAAP.
Topics Covered
- Relevant accounting standards affecting 2024 calendar year end financial statements
- Audit standards update
- Private Company Council standards and application
- Adoption and disclosure requirements for 2023 and beyond year-end financial statements
Learning Objectives
- Identify recently issued Accounting Standards Updates
- Understand implementation lessons learned with 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
Group: Internet-based
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
Basic understanding of US GAAP and auditing standards.
Advance Preparation
None
Instructor
Lewis R. Fisher
Lewis R. Fisher is a partner with Moss Adams, LLP in the Automotive & Dealer Services Group, with over 20 years of experience of private and public accounting experience. He began his career working in retail finance at a domestic dealership, and then moved to the corporate office for the largest privately held automotive group in the United States. Lewis' focus is providing assurance and consulting services to automotive dealership clients, as well as other heavy truck and equipment dealers, including those with significant rental operations. He has experience directing all phases of assurance engagements, working with a mix of SEC clients and large privately held clients. He is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.