Vermont Society of Certified Public Accountants
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Accounting and Auditing Shuffle & Professional Ethics for Vermont CPAs

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Member Price: $315.00 Price reflects early registration savings of -$50.00, good until 5/7/19
Non-Member Price: $515.00 Price reflects early registration savings of -$50.00, good until 5/7/19

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Date/Time:
Jun 7, 2019, 8:30am–4:30pm
Venue:
Hilton Burlington Lake Champlain (Burlington, VT 05401)
60 Battery Street
Burlington, VT 05401
CPE Credits:
Accounting: 4.00, Ethics: 4.00

Morning Session:

ASU 2014-09, as amended (Topic 606) will impact most U.S. GAAP financial statements either due to measurement and recognition changes from legacy U.S. GAAP and/or additional disclosure requirements compared to prior guidance.
This 4-hour program will overview the key provisions of the ASU, identify and apply the new five-step revenue recognition model, describe the new disclosure requirements, as well as discuss transition and business implications of the new guidance. In addition, selected industry implementation guidance developed by the AICPA will be discussed.

Afternoon Session:

The AICPA’s Professional Ethics Executive Committee (PEEC) clarified, revised, and codified the AICPA Code of Professional Conduct in 2014 and has made many changes since then. In this program, the Code is used as a basis for discussing regulatory ethics.  The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed along with Vermont Board of Accountancy laws and regulations. This course qualifies for the two-year ethics requirement for Vermont CPAs.

Objective

Morning Session:

Participants will be able to:

  • Recognize how the new revenue guidance differs from legacy revenue guidance
  • Identify and describe the five steps involved in applying the new revenue recognition model
  • Identify and describe selected industry implementation guidance developed by the AICPA
  • Identify the increased disclosures required in the ASU for both public and non-public entities
  • Identify the transition requirements to be applied upon the effective date of ASU 2014-09, as amended

Afternoon Session:

Participants will be able to:

  • Understand the AICPA Code of Professional Conduct, along with recent changes
  • Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
  • Identify the AICPA Code of Professional Conduct rules that are applicable to all members, including those in public practice and business
  • Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
  • Understand the importance of and differences between the AICPA Code of Professional Conduct and Vermont state laws and regulations

 

Highlights

Morning Session:

  • Objectives and scope
  • Five-step revenue recognition model
  • Selected industry implementation guidance
  • Presentation and disclosure
  • Transition guidance and business implications

Afternoon Session:

  • The conceptual framework
  • Confidentiality and conflicts of interest
  • Issues impacting attest services, including independence
  • Issues impacting non-attest practices and engagements
  • Issues impacting CPAs in industry
  • Vermont state laws and regulations

 

Designed For

Morning Session:

All accounting and financial professionals in industry and public practice.

Afternoon Session:

Active licensed CPAs in public practice or industry.

Prerequisite

Morning Session:

Basic knowledge of U.S. GAAP.

Afternoon Session:

Basic knowledge of professional ethics rules and regulations.

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