Recent developments in accounting, auditing, and financial reporting, including implementation issues, are covered in this 2016 Accounting and Auditing Clinic.

Strong emphasis is placed on the practical application of selected newly issued and/or effective authoritative pronouncements affecting practitioners who perform or supervise compilation, review, and/or audit engagements for small and middle-market, privately held businesses. The session is designed for a high level of interaction between the instructor and participants.


The State of the Profession Report

  • FASB/IASB Convergence Project Status Report
  • AICPA 6-Point Plan Progress Report
  • Truth or Consequences: Evolution of Peer Review
  • Educating Clients and Bankers – An Initiative to Consider

Private Company Financial Reporting

  • Private Company Council Activities
    • FAF Changes to Operating Procedures to Enhance Influence
    • Effective Date and Transition Guidance
    • Applying VIE Guidance to Entities Under Common Control

Accounting Standards Codification® Amendments

  • Codification Pending Content Filtering Tutorial
  • Debt Issue Costs: Implementation Tutorial
  • Definition of a Business
  • Prepaid Stored-Value Cards
  • Countdown Projects-Implementation Planning Considerations
    • Revenue from Contracts with Customers
    • Leases
    • Financial Instruments
    • Going Concern
    • Share-Based Payment Improvements
  • FASB Simplification Initiatives

Compilation and Review Developments

  • Preparation/Compilation: Prospective and Pro Forma Information

Audit and Assurance Services

  • Status Report: Auditing Standards Board Activities
  • Status of SSAE 18 – Redrafted Attestation Standards
  • Changes to Published Audit Methodology

Behavioral Ethics

  • Hot Topics and Breaking Developments

NOTE: Topics, duration, and the allocation of CPE credits between fields of study are subject to change to accommodate late-breaking developments and firm-specific

[audience-specific] needs. Each state board of accountancy has the final authority on the acceptance of ethics-related content for credit.

The clinic is taught by Ralph Nach and includes 8.0 CPE credits (6.5 for Accounting and 0.5 for Auditing, and 1.0 for Professional Ethics).

Contact Epstein + Nach LLC
Ralph Nach, CPA
+1 (847) 372-6805

Click on the link to download a course description for the 2016 Accounting and Auditing Clinic.

About the Instructor
Ralph Nach Accountant CPE TrainingMr. Ralph Nach, CPA, is the author, instructional designer, and facilitator of the popular annual Accounting and Auditing Clinic™ continuing professional education program. He has served as author, co-author, contributing author, or technical editor of a number of widely-utilized technical reference works, including PPC’s Interactive Disclosure Library, PPC/Thomson Reuters, 2011; PPC’s Guide to Preparing Financial Statements, PPC/Thomson Reuters, 2010; Wiley GAAP (2001–2010), John Wiley & Sons; and The Handbook of Accounting and Auditing, Warren, Gorham & Lamont, 1999.