Financial Accounting Issues

Going Concern Accounting and Auditing Issues v1.1

This course provides an overview of going concern accounting and auditing issues. This includes a discussion of indicators of going concern problems and differentiates between responsibilities of management and the auditor. This course also provides an overview of the respective accounting/auditing guidance that is applicable to going concern evaluations.

Learning Objectives:

After completing this course, participants will be able to:

  • Recognize indicators of going concern problems.
  • Distinguish between management’s responsibilities and the auditor’s responsibilities with respect to going concern.
  • Describe FASB Codification Subtopic 205-40, Presentation of Financial Statements – Going Concern.
  • Describe AU-C 570, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern.
  • Describe SSARS 24, Omnibus Statement on Standards for Accounting and Review Services – 2018 – Section 90, Review of Financial Statements.


Prerequisites/Advanced Preparation:

None

Speaker / Author:

John M. Fleming, licensed as a CPA in Pennsylvania, has served as the President and Director of Accounting and Auditing for Kaplan Financial Education, powered by Loscalzo Institute and also as the Director of Content Development for Kaplan Financial Education, powered by SmartPros. John retired from Kaplan in October of 2017. In retirement, John continues to provide seminars as a discussion leader for Kaplan Financial Education on a part-time basis.

John's prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA). In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association's Mid-Atlantic Region.

 

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Price (USD)

Standard: $24.95

Details

Course Code : 99FLE49A

Release Date : 10/04/2023
Expire Date : 09/30/2025
Credits :
CPE 1.00
QAS 1.00

Length : 50min

Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Accounting Issues

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