Course Objectives:
At the completion of this course participants should be able to:

Apply the most pervasive GAAP updates
Describe the basics of the more narrow scope GAAP updates

Describe the evolution of the revenue standard
Apply the five-point framework for revenue recognition
Identify various specialty areas for revenue recognition
Apply the revenue framework to basic business models

Describe the history of the leases project
Apply the classification criteria to determine whether a lease is a finance or operating lease for a lessee
Apply the classification criteria to determine whether a lease is a sales type, direct financing or operating lease for a lessor
Apply the lease standard for a finance lease
Apply the lease standard for an operating lease
Describe potential pitfalls related to the new standard
Describe alternatives
Apply the going concern audit standards

Describe the efforts for enhancing audit quality

Apply better documentation skills

Apply the latest preparation, compilation and review standards