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Current Issues in Accounting and Auditing: An Annual Update

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DoubleTree by Hilton Missoula Edgewater

100 Madison Ave
Missoula, MT 59802

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4.00 Credits

Member Price $150.00

Price will increase by $25 after 10/14

Non-Member Price $200.00

Price will increase by $25 after 10/14

Overview

MISSOULA CLUSTER CLASS

Designed for accounting, auditing, and attestation practitioners at all levels in public accounting and business and industry, this course provides a detailed review of the multitude of FASB and AICPA standards and reports issued over the past few years, including a discussion of the FASB’s Stage 3 PIR report on ASC 606. It also provides an overview of recent PCAOB inspection report findings and SEC rulemaking activity. Through hands-on examples and illustrations, this course will help you apply the guidance in practice. We further discuss other important A&A practice matters to be aware of, including an update on the quality management standards and soon-to-be-effective requirements for engagement quality reviews.

This course also has a VIRTUAL option. Please see 'MTCPA Webcasts' tab on the CPE page.

HOTEL
MTCPA has a room block at the DoubleTree by Hilton Missoula-Edgewater on 11/2-3/2025-. Please reference "Montana Society of CPAs Cluster Classes" when calling to book. 406-728-3100. Standard Room: $169 + tax. Rate available until 10/12/2025.

Highlights

  • Recently issues but newly implemented Accounting Standards Updates (ASUs), the PCC Update, and items on the FASB's Technical Agenda
  • New ASUs covering disaggregated expenses, crypto assets (e.g. cryptocurrency), and business combinations
  • Results and findings of the FASB's Final (Stage 3) Post-Implementation Review (PIR) Report on Topic 606
  • Recently issued SASs and other AIPCA activity through SAS No. 149
  • Detailed review of the three new Statement on Quality Management Standards (SQMS 1, SQMS 2, and SQMS 3)
  • Other important A&A practice matters

Prerequisites

Experience in accounting and attestation

Designed For

Accounting, auditing, and attestation practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities 

Objectives

After attending this course you will be able to . . .

  • Recall and apply recently issued and proposed FASB and AICPA pronouncement
  • Understand the key findings of FASB's PIR report covering revenue recognition in ASC 606
  • Understand the main provisions of SASs No. 146 to No. 149
  • Identify other important A&A practice matters to be aware of
  • Understand the key findings in recent PCAOB inspection reports
  • Utilize hands-on examples and illustrations to demonstrate an overall understanding and application of the material

Preparation

None

Leader(s):

Leader Bios

Thomas Sheets, Thomas M Sheets PC

Thomas M. Sheets, CPA Individual Practitioner/Enid, Oklahoma Tom Sheets is a Certified Public Accountant with over 34 years experience in auditing, accounting and tax return preparation for businesses and individuals. He provides consulting, accounting and tax services for a wide variety of individual clients and industries including banks, construction contractors, and non-profit organizations. Mr. Sheets was with a Big Eight accounting firm for 2 years; a large, local CPA firm in Enid, Oklahoma for 15 years before establishing his own consulting, tax and accounting practice eighteen years ago. Mr. Sheets has written seminars on bank auditing, audits of construction contractors and information systems control and auditing. He has lead seminars on various accounting, auditing and tax topics including compilation and review, real estate accounting, construction contractors, bank auditing, and tax issues for nonprofit organizations.

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Non-Member Price $200.00

Member Price $150.00