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September 21, 2015 Seminar

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Our September seminar will be held at Seasons Event and Conference Center at 155 Riverside Street in Portland, near Exit 48 of the Maine Turnpike, from 8:00 AM to 4:30 PM. The speaker will be Bob Corallino from Gear Up. The topic is SSARS 21, which was released last fall by the AICPA.

For a registration form, click here.

Notes about the seminar from Gear Up:

Not since 1978 when the AICPA promulgated the statements on Standards for Accounting and Review Services (SSARS) has there occurred such a radical change to the way accountants prepare and present financial statements. The reason: SSARS No. 21.

Released October 23, 2014, this new document obligates every accountant to become updated
now. This 2015 Gear Up Accounting course will cover the new engagement letters, totally revised management
representation letters, and the dramatically reconstructed versions of the accountant's report. AND note this: There is a new level of accounting service entitled “The Preparation” which can be issued without the need of an accountant's report!

Other topics include:
• Coverage of Special Purpose Financial Reporting Framework (formerly OCBOA)
• Note disclosures: How much detail should there be?
• Workpapers: What kind are required and how should they be documented?
• Peer review: How should a firm prepare for it?
• Learn about how a peer reviewer evaluates your practice by examining for yourself the peer reviewers checklist
• Professional ethics: What constitutes "ethical" conduct in a tax and write-up practice?
• Practice management: Value billing versus hourly billing
• GAAP update:
––Will Fair Value Accounting replace historical cost?
––When do variable interest entities require financial statement consolidation?
––What are the new leasing standards, changes in revenue recognition concepts, tests for impairment, and how does each impact disclosure on OCBOA.

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