Audit Risk Alert (eBook)

General Accounting and Auditing Developments, 2017/18

Aicpa (Autor)

eBook Download: PDF

2017 | 1. Auflage
112 Seiten
Wiley (Verlag)
978-1-119-48586-5 (ISBN)

Infos

Updated annually, this useful resource contains a description of all recent auditing, accounting and regulatory developments to ensure that the accountant has a robust understanding of the business, economic, and regulatory environments in which they and their clients operate. In addition, this alert ensures that the accountant has a full understanding of emerging practice issues, with targeted analysis of new developments and how they may affect your engagements, including: Recent Economic Trends Recent Legislative and PCAOB Developments Developments in Peer Review Recent Ethics Interpretations It also contains new accounting and auditing guidance related to derivatives and hedging, service concession agreements, discontinued operations, stock compensation, and more

Autor

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting professional nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups, and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards. The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public trust.

Inhalt

How This Alert Helps You 01-03

Economic and Industry Developments 04-08

The Current Economy 04-05

Key Economic Indicators 06-08

Legislative and Regulatory Developments 09-37

Inspections of Broker-Dealer 09-37

Audit and Attestation Issues and Developments 38-119

The AICPA Enhancing Audit Quality Initiative 38-49

Cybersecurity 50-51

Auditing Standards Board 52-87

Accounting and Review Services Committee 88-96

The Public Company Accounting Oversight Board 97-106

Developments in Peer Review 107

Common Peer Review Findings 108-119

Attestation Clarity Project 120-127

Restructuring the Attestation Standards 124-127

Revenue Recognition 128-163

Overview 128-130

Effective or Applicability Date 131-132

Overview of the New Guidance 133-135

Understanding the Five-Step Process 136-147

Additional Guidance Under the New Standard 148-149

Transition Resource Group 150-151

Latest Developments 152-162

Conclusion 163

New Leases Standard Will Change Financial Statement

Presentation 164-193

Issuance and Objective 164-165

Applicability and Effective Date 166-167

Main Provisions 168-178

Lessee Accounting 179-185

Lessor Accounting 186-190

Sale and Leaseback Transactions 191-192

Leveraged Lease Arrangements 193

Accounting for Financial Instruments 194-217

Overview 194-195

Applicability and Effective Date 196-199

Impairment 200-214

Hedge Accounting 215-216

Conclusion 217

Other Accounting Issues and Developments 218-323

Income Taxes 219-223

Consolidation 224-231

Restricted Cash 232-236

Business Combinations 237-246

Simplifying the Test for Goodwill Impairment 247-256

Other Income 257-271

Retirement Benefits 272-277

Nonrefundable Fees and Other Costs 278-284

Stock Compensation 285-292

Service Concession Arrangements 293-303

Financial Instruments With Characteristics of Liabilities

and Equity 304-312

Financial Instruments With Characteristics of Liabilities

and Equity 313-323

Recent Pronouncements at a Glance 324-326

Recent Auditing and Attestation Pronouncements

and Guidance 324

Recent Accounting and Financial Reporting Guidance 325

Recently Issued Technical Questions and Answers 326

Recent AICPA Independence and Ethics Developments 327-356

AICPA Conceptual Frameworks Toolkits 327-328

Definition of a Client 329

New Independence Interpretation--Hosting Services 330-356

On the Horizon 357-392

Auditing and Attestation Pipeline--Nonissuers 359-362

Auditing and Attestation Pipeline--Issuers 363-370

Accounting and Financial Reporting Pipeline 371-382

Independence and Ethics Pipeline 383-392

Resource Central 393-409

Publications 394

Continuing Professional Education 395-398

Webcasts 399

Member Service Center 400

Hotlines 401-408

Industry Websites 409

Produkt-Details

• Erscheint lt. Verlag: 6.11.2017
• Reihe/Serie: AICPA
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Schlagworte: Accounting • Auditing • Rechnungswesen • Revision
• ISBN-10: 1-119-48586-X / 111948586X
• ISBN-13: 978-1-119-48586-5 / 9781119485865