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Instructor : Melisa Galasso

Professional conduct and ethical behavior form the  cornerstone of the CPA profession. In our profession, ethics is more than just the possession of a strong moral compass. CPAs must understand recent Professional Ethics Executive Committee interpretations impacting the Code of Professional Conduct and be able to apply them to their practice. In this course, we review the new interpretations and provide practical guidance on their impact. We'll also review the projects on PEEC's three-year plan.


Key Topics

Hosting

Records Requests

PEEC Three-year Plan

Information System Services

NOCLAR

Field(s) of Study: Regulatory Ethics
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This course reviews accounting standards issued by the Government Accounting Standards Board (GASB) that will be effective this year as well as those that will be effective in the near future. In addition to reviewing the standards, we will also focus on implementation strategies and challenges. Finally, we will turn our attention to the future by discussing GASB’s current projects and exposure drafts. 

Key Topics: 

Fiduciary Activities 

Leases 

SBITAs 

Revenue & Expense Recognition 

Financial Reporting Model 

Field(s) of Study: Accounting Governmental
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Governmental accounting is very unique. This course will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We will discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government-wide financial statements. The class will also cover the concept of component units and close the accounting section with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.

Field(s) of Study: Accounting Governmental
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Nonprofits face unique accounting issues.  This session will introduce attendees to the financial statements and unique accounting principles applicable to not-for-profit organizations. Specifically, this session will focus on the typical transactions and account balances unique to NFPs, including, net assets, agency transactions, contributions, endowments, and programmatic investments.

Field(s) of Study: Accounting Governmental
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Single Audits are an area of focus for the AICPA's Enhancing Audit Quality Initiative. The Uniform Guidance provides very unique audit requirements when auditing federal funds. This course will look into the unique performance and reporting requirements in Single Audits. Participants will have a basic understanding of internal controls over compliance, compliance requirements, how to use the Compliance Supplement, and the elements of a finding in a Single Audit.

Field(s) of Study: Accounting Governmental
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Performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS or “Yellow Book”) requires additional reporting, ethics, and performance requirements. This course will identify and review the guidance found in the Yellow Book and analyze the relationship between Government Auditing Standards and the AICPA Code of Professional Conduct. We will review the Yellow Book requirements for financial statement audits while also touching upon ethical principles and independence.

Field(s) of Study: Accounting Governmental
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