Courses

Join us for this IN PERSON version of this course with other VT CPA colleagues and get the added bonus of networking time at breaks and lunch!

Designed as an all-you-need-to-know update for accounting, auditing, and attestation practitioners at all levels in public accounting and industry, this course provides a comprehensive review of recent standard-setting and rulemaking activities of the Financial Accounting Standards Board (FASB), American Institute of Certified Public Accountants (AICPA), Public Company Accounting Oversight Board (PCAOB), and Securities and Exchange Commission (SEC). On the financial accounting front, we will cover the FASB;s Post-Implementation Review (PIR) report for revenue recognition under ASC 606 and discuss the best practices in applying the standard and identifying any ongoing issues practitioners are experiencing with applying the standard. We will also discuss the more than a dozen ASUs the FASB has issued since the beginning of 2023 and into 2025 covering crypto assets, disaggregated expenses, business combinations, and leases for entities under common control. Our focus on AICPA standards includes a detailed discussion of revamped AICPA quality management standards. The AICPA updated and modernized the standards by issuing Statement on Quality Standards 1, 2 and 3 (SQMS 1, SQMS 2, and SQMS 3 respectively), SSARS No. 26, and SAS 146, Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards (SAS 146). These standards, effective December 15, 2025, modernize qualify management standards to reflect an increased focus on risk assessment, technology use, and the presence of outside experts on engagements.

Registration includes in person instruction at the Hampton Inn in Colchester as well as lunch and refreshments.

The presenter is Robert "Wayne" Wells. He has 54 years of experience in public accounting and annually instructs numerous virtual continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation. Wells holds a certified public accountant certificate in Tennessee and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of CPAs, the Association of Certified Fraud Examiners, and the AICPA. He is the recipient of the Outstanding Discussion Leader Award presented by the AICPA and the Outstanding Discussion Leader Award presented by Surgent.