CPE Catalog & Events

AICPA’s Engagement Quality Initiative When peer reviews are required and how they work Recent deficiencies noted by peer reviewers in audit, review and compilation engagements System of Quality Control required by the Auditing Standards Board (ASB) Changes to the system of Quality Control proposed by the ASB

Rental income and expense calculation and reporting Deciphering Schedule E (Form 1040) Nuances of vacation home rules Passive activity loss rules: foundations and implications Active vs. material participation in rental activities Tax reporting: how to group passive activities Limitations on passive losses: at-risk rules and deductions Classifying rental real estate activities Navigating exceptions in rental real estate taxation

Who are Next Gen employees, and what are their career objectives? How employers can align their values with Next Gen values  Establishing procedures and priorities that allow for attracting the best talent Maintaining relationships with employees to reduce turnover and grow organizations

Create an equipment/technology checklist before each meeting Structure your environment for maximum effect Manage and mitigate distractions Handle and respond to technology issues Present yourself with authority Prepare to achieve the best outcomes Establish an authentic and accessible professional presence Navigate a group meeting as well as one on one discussions Master audio only meetings and discussions

The Yellow Book performance and reporting requirements related to internal control deficiencies Evaluating whether an internal control deficiency should be reported as a significant deficiency or a material weakness How the auditor develops the criteria, condition, cause, and effect elements of a Yellow Book finding

Key principles of Revenue Recognition Performance obligations in the Contract Noncash considerations Presentation of sales taxes Impairment reversal of capitalized contract costs Interim disclosures

Topic 606’s five-step revenue recognition model Determining whether to recognize revenue over time or at a point in time under Topic 606 Other unique considerations in applying the five-step model for entities currently using SOP 81-1 Lessons learned and best practices from entities already adopting Topic 606

Documentation as a means of audit quality Responsibilities of the workpaper reviewer Important tips for providing reviews notes that will promote an effective and efficient financial statement audit Appropriate review considerations at various phases of the engagement, including before and after audit report date and report release

Was COVID-19 a “black swan” or a “gray rhino”? Monitor centrally but control decentrally Establish specific plan for risk management Risk recognition Risk evaluation Risk mitigation

Revised format of audit opinion under SAS 134 Additional responsibilities of both management and the auditors under SAS 134 Additional requirements related to SASs 135-140 Qualified auditor reports, their wording, and when the auditor would issue one of them Circumstances requiring the addition of Emphasis of Matter and Other Matter paragraphs to the standard unqualified audit report

The overall purpose of the Form 8-K Triggering events for filing the Form 8-K Filing deadline for the Form 8-K

The overall importance of the rules and regulations with respect to the Management's Discussion and Analysis (MD&A) section of an entity's consolidated financial statements filed with the U.S. Securities and Exchange Commission (SEC) An overview of Non-GAAP Financial Measures

Types of SOC reports Uses of SOC reports by user auditors Characteristics of SOC reports Format of a SOC1 report Using a SOC1 report on a financial statement audit

The value of strategic networking Quality vs. quantity in networking Networking for professional opportunities Person-to-person networking Maintaining and expanding your current connections Networking for introverts Long-term networking strategies

Understanding the time commitment required to start and run a business Selecting a corporate structure to protect your personal assets Building your product or service Sales and marketing in your business Establishing your owners, investors, managers, and employees Accounting, recording-keeping, and other software programs Leases, contracts, and employee agreements Protecting intellectual property Insurance Business plans Financing Market position

Advantages and disadvantages to buyer and seller of an asset acquisition and a stock acquisition Tax treatment of consulting agreements and covenants not to compete Sale of personal goodwill associated with an asset acquisition Tax consequences associated with a stock acquisition and an asset acquisition Acquisitive reorganizations Non-tax issues that must be considered when a corporation is acquired

Barriers to communication, especially when working remotely Modules and best practices for effective communication Keys to effective non-verbal communication Effective listening techniques

The 15% corporate tax 1% tax on the repurchase of corporate stock Enhancement of IRS services Prescription drug pricing reform, including drug price negotiation Maximum out-of-pocket cap for Medicare beneficiaries Extension of Affordable Care Act subsidies for certain individuals whose household income exceeds 400% of the poverty line Clean energy and efficiency incentives for individuals Energy Efficient Home Improvement Credit Energy efficient commercial buildings deduction (Section 179D) Extensions, increases, and modifications of the New Energy Efficient Home Credit Clean Vehicle Credit - now available at point of sale - and credit for previously owned clean vehicles Qualified commercial clean vehicles Transfers of certain credits to an unrelated transferee Increase in Research Credit against payroll tax for small businesses

The importance of proper documentation of workpapers Meeting firm-mandated ethical requirements  Independence issues related to client relationships Client engagement and entertainment Accurate and complete reporting of time

Refresher on understanding internal controls  When testing internal controls is required  When testing of internal controls is an effective strategy to reduce substantive testing   Designing tests of controls   Responses when deviations are discovered in the design or operating effectiveness of internal control