CPE COURSE TOPICS – 2008

by David W. Holt, CPA, CFE

 

(For CPE Sponsor - Professional Accounting Seminars, Inc. dba David Holt Seminars & various “in-house” or “Chapter sponsored” seminars)

 

 

8 hrs of CPE per topic** All topics (except Ethics) are “accounting and auditing” (A&A / Technical Content) courses and include:

 

·         Live instruction format, based on the provided course material

·         No prerequisites or advanced preparation required

·         Intermediate or update level content (but flexible)

 

 

(AAU) Accounting & Auditing Standards Update (New for 2008)

 

This year’s primary topics include:

 

• FASB 157 “Fair Value Measurements” (a new definition + a FV hierarchy)
• FASB 160 “Non-controlling Interests in Consolidated Financial Statements”
• FASB 141 (Revised 2007) “Business Combinations”
• Risk Assessment Auditing (SAS 104 - 111)
• Learning objectives: Update participants regarding the requirements, effective dates & implementation issues of significant new & proposed accounting & audit standards

 

 

(ET) Ethics for Florida CPAs (4 hours of Ethics CPE) + Preparing Financial Statements with Integrity (4 hours of A&A CPE) = 8 hr. of CPE (entire day)

 

(Approved Florida Ethics course # 5874, Updated for 2008)

 

(You may attend either or both topics for the same fee. CPE certificates {4 hours each} will be issued for each topic. The Ethics topic is the morning session & CPE certificates will be available at the lunch break.)

 

This course will be taught by both instructors, as follows:

 

·        Fort Lauderdale, Fort Myers, Orlando & West Palm Beach (Holt)

·        Miami & Tampa (Granger)

 

With the onslaught of ethical problems within the accounting profession over the past several years, a keen understanding of the ethical requirements for CPAs is a must.  This 4-hour seminar will examine the Code of Ethics in Florida.  The seminar will literally walk through the core requirements of the code.  However, the most effective way to learn this material is through the use of practical application problems. This fast paced course will hold your attention and help improve your understanding of the ethical requirements we must follow.

 

This seminar has the following learning objectives:

 

1.         To learn the Florida rules and statutes that relate to CPAs  today.

2.         To examine topics such as confidentially, advertising and solicitation contingent fees, commissions and referral fees, as well as the disciplinary action that can be taken when we fail to comply with the standards.

3.         To spend time examining independence and the various ways that independence can be impaired.  We shall use practical problems to apply the independence rules.

4.         We shall examine the Florida Statutes that relate to CPAs in industry, government & public accounting.

 

The session on Preparing Financial Statements with Integrity (4 hours A&A CPE) will focus on making financial reporting & disclosure “decisions” that enhance the value of the information for all intended users. We will engage in numerous case studies & discussion questions for situations common to most preparers of financial statements. Issues addressed will include:

 

• AICPA Ethics Interpretations & Rulings
• Actual “ethical” decisions that are frequently faced when preparing & presenting financial statements
• Lessons learned through numerous, well-publicized “fraudulent” (unethical) financial statements

 

 

(CSI) CSI for CPAs - Analyzing Actual Fraud Cases (New for 2008)

 

We’ll look at a variety of real occupational fraud cases and identify the evidence that could be used (where you work or where you audit) to detect fraud & abuse of corporate assets. We will also discuss methods to proactively prevent these types of problems at your workplace.

 

This seminar provides a “hands-on” workshop approach to enhancing & improving your forensic accounting & auditing skills. We will also address fundamental procedures for fraud-related internal controls.

 

Learning objectives include:

 

• Improving your forensic accounting skills
• Learning a variety of effective fraud detection techniques & tools

 

 

(SBG) Small Business GAAP Refresher (New for 2008)

 

The attendees will be able to walk through this “GAAP buffet” and select the amount of time & extent of discussion necessary for each topic. We will cover the basic principles of a variety of FASB standards (learning objective), including numerous illustrations, examples, and discussion questions.

 

The menu includes: (serving size is determined by the participants)

 

·         Revenue recognition

·         Accounting for leases

·         Accounting for investments

·         Reporting cash flows

·         Impairment of long-lived assets

 

 

(NPO) Nonprofit Organizations Update (New for 2008)

 

This seminar will take a look at some of the more challenging new issues that must be addressed by directors, management, accountants, and auditors of Nonprofit Organizations (NPOs). We will consider accounting, auditing & internal control matters that are unique to the NPO environment.  We will also discuss practical & effective ways to resolve “problems” experienced by entities with “limited resources”.  

 

Learning objectives include a basic understanding (overview) of:

 

·         Recently-issued accounting (FASB) & auditing (AICPA) standards and the expected implications for NPOs

·         Difficulties & changes necessary in response to internal control deficiencies (SAS 112) and the “more rigorous” Risk Assessment Audits (SAS 104 - 111)

·         New guidance for internal control improvements for Board members & management of NPOs

·         A brief review of the most recently-issued OMB A-133 Compliance Supplement

 

 

(PFS) Preparing Personal Financial Statements (for individuals) & Tax Basis Statements (for businesses) (2007)

 

This course covers the standards & AICPA guidance for proper preparation of (both) personal financial statements and income tax basis financial statements. We will also consider numerous examples, illustrations, & practical implementation issues. Learning objectives include:

• Identifying & understanding authoritative & non-authoritative guidance
• How to gather the necessary information from individuals & small businesses
• Avoiding common deficiencies in accounting, reporting & disclosures

 

 

(PRA) Performing Risk Assessment Audits for Small Businesses & Nonprofits (New for 2008 offered in Chicago & by request)

 

This session will help you improve your efficiency & effectiveness for smaller audit clients, with “limited” accounting personnel & “simple” internal controls.

 

Learning objectives include:

 

• How to document SAS (AICPA) compliance, without using complex or inefficient “programs”
• Understanding the risk assessment audit “mindset”, in contrast to the former “cookie cutter” & “canned audit program” audit approach
• Using “real world” audit case studies to demonstrate “how to do it right” (compared to “how we used to do it”)
• Considering how to identify “significant” accounts & transactions & how to audit “significant” assertions (for those accounts & transactions)

 

 

 

 

 

 

 

 

The following section includes Additional CPE Topics for 2008, that are available for In-house or Chapter CPE Seminars:

 

 

Government Accounting & Auditing Update (New for 2008)

 

• New guidance from GAO & OMB (if any) for performing Single and/or Yellow Book Audits
• All recently-issued (& proposed) GASBs
• The effect on Governmental entities of new AICPA Risk Assessment audit standards + the AICPA Toolkit for internal control by management

 

 

Compilations & Reviews (Updated for 2008)

 

• Cover all the basic AICPA performance & reporting requirements (SSARS)
• Discuss new SSARS # 15 & 16
• Practical guidance on independence & ethics (including all existing & proposed AICPA rules & interpretations)
• Learning objectives: review “old” & “new” SSARS necessary to perform compilations & reviews; discuss practical engagement implementation & reporting “problems”

 

 

Anti-Fraud Tutorial for Management, Owners & Auditors (2007)

 

This fraud session provides the most effective tools & procedures to reduce fraud in the workplace. We will also address any “problems” or “successes” experienced by the participants, relevant to occupational fraud. Primary topics include:

 

• Video interviews with former employees (felons) & other fraud experts

• How to anticipate (risk assessment), identify, & reduce the “most popular” occupational frauds (for specific industries, transactions, & assets); using the 2006 Report to the Nation on Occupational Fraud & Abuse (ACFE)
• Guidance & a “hands-on” exercise on how to properly respond  to whistle blowing reports
• Case studies regarding “how to prevent” specific types of misappropriations (including cash disbursements & inventory)
• Learning objectives: discuss & understand contemporary procedures, resources, & techniques for safeguarding organizational assets

 

 

Common FASB Problems & Solutions (2007)

 

By popular request, we will be addressing recent GAAP issues (not included in this year’s A&A update) that have generated “more than a little” excitement for shareholders, accountants & auditors. Our learning objectives will be to comprehend the FASB “rules” & discuss how to “comply”. In some circumstances, we will also address reporting “alternatives”. Topics will include:

 

• FASB Interpretation 46(R) – Consolidation of Variable Interest Entities (consolidation rules have changed BIG TIME)
• FASB Interpretation 45 – Guarantor’s Accounting & Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others (this covers performance and loan guarantees)
• Reporting Risks, Uncertainties & Contingencies (this section includes guidance from FASB 5, AICPA SOP 94-6, and related material)
• FASB 133 – Derivative Financial Instruments & Hedging Activities (we will focus on recent changes issued by FASB & transactions that may be applicable to non-public entities)

 

 

 

 

 

 

Governmental & nonprofit courses normally qualify for Yellow Book CPE credit. Other topics may also qualify for “audit proficiency” GAO CPE credit.

 

Most topics can be modified, combined or offered in shorter CPE presentations (e.g. 2, 4, or 16 CPE hours). Additional seminar topics & information may be obtained from:

 

David Holt, CPA, CFE

830-591-2595

david@holtcpe.com