Audit & Accounting and Federal Tax Updates

Join us for our Fall Federal Tax Update and Audit and Accounting Update to learn more about recent ASUs and current federal tax topics!

(Note: If you joined us for the Audit & Accounting Update this spring, the fall sessions will cover similar content, just in a different format of three two-hour sessions. You are only eligible to receive CPE credit for attending one A&A Update series, not both the spring and fall sessions.)

We look forward to having you!


Audit & Accounting Update

One constant in accounting is change. The Financial Standards Accounting Board (FASB) is continually working with financial statement users and other stakeholders to improve accounting and financial reporting. Each year, the FASB issues new Accounting Standards Updates (ASU) to accomplish this goal.

It’s important that entities maintain an awareness of what standards are on the horizon to ensure their accounting and financial statements continues to be in compliance with Generally Accepted Accounting Principles (GAAP).

Our fall A&A update covers all ASUs effective for 2021 financial statements and beyond, as well as accounting issues related to the Employee Retention Credit (ERC) and the Paycheck Protection Program (PPP).

Topics covered by date:


October 21, 2021 | 10:30 a.m.-12:30 p.m. | Intangibles, Financial Instruments, Credit Losses

ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. While the ASU will have a significant effect on financial institutions, its affects will also reach non-financial institutions, as most businesses have certain financial instruments (including trade receivables) that are included in the scope of the update. The ASU shifts away from current GAAP of waiting until credit losses are probable to a model based on expected losses. Other ASUs covering topics that include accounting guidance and updates for: intangibles, derivatives and hedging.

Presenters:
Kellen Garrison, CPA, National Assurance Sr Manager | Eide Bailly
Kellen has over eight years of public accounting experience providing audit, accounting and consulting services to our commercial, healthcare system, electric utility and telecommunication clients.

David Peaden, CPA, National Assurance Sr Manager | Eide Bailly
David leads teams to assist clients with financial audits, reviews and other compliance testing. He is experienced with healthcare, manufacturing, government and not-for-profit entities.

Angie Hillestad, CPA, CGMA, Partner | Eide Bailly
Since 2007, Angie has been providing audit services to a variety of industries, including nonprofits with and without Federal grants and affordable housing entities. In her primary role as a member of Eide Bailly’s National Assurance Office, she is responsible for providing quality control, oversight, and support to the Firm's assurance team.


October 28, 2021 | 10:30 a.m.-12:30 p.m. | Leases

ASU 2016-02 Leases. The new standard provides significant changes for leases that can be complicated depending on the complexity of the lease terms. It’s important to understand the potential impact the standards could have on your organization for both financial reporting and tax purposes.

Presenters:
Angie Hillestad, CPA, CGMA, Partner | Eide Bailly
Since 2007, Angie has been providing audit services to a variety of industries, including nonprofits with and without Federal grants and affordable housing entities. In her primary role as a member of Eide Bailly’s National Assurance Office, she is responsible for providing quality control, oversight, and support to the Firm's assurance team.

Scot Phillips, CPA, Partner-in-Charge of Audit & Assurance | Eide Bailly
Scot joined the firm in 2002 and is a highly experienced public accountant, serving privately held companies, employee benefit plans, governmental entities and nonprofit organizations. His work includes audits, reviews and compilations of financial statements, interpretations of financial information and assistance with acquisitions. Scot is a recognized leader in his field, as well as in his community, participating in many local business and professional associations.

Kristin O’Connor, CPA, National Assurance Sr Manager | Eide Bailly
Kristin joined the firm in 2012, she primarily provides services to health care entities. Kristin works with organizations on understanding the impact of accounting changes and disclosure requirements and assists clients on financial statement analysis. Kristin plans, performs and supervises financial statement audits as well as provides Uniform Guidance to health care and nonprofit organizations which receive federal funds.


November 4, 2021 | 10:30 a.m.-12:30 p.m. | Revenue Recognition, CARES Act, Upcoming ASUs and Assurance Updates

Various other ASUs covering topics that include accounting guidance and updates for: revenue recognition, receivable recognition, income taxes, and much more.

Employer Retention Credit (ERC) and Paycheck Protection Program (PPP). In the ever-changing environment of government assistance and regulation, change is the one constant. The Employer Retention Credit and Payroll Protection Program loans are no exception. Learn about recent accounting guidance provided on these programs.

Presenters:
Ann Glenz, CPA, Partner | Eide Bailly
Since 2004, Ann has been providing public accounting services to a variety of clients, including SEC registrants, manufacturers, general commercial entities, investment companies and nonprofit organizations. Ann not only assists in developing policies, procedures and improvements firmwide, she puts her knowledge to work in researching and proposing guidance that addresses issues throughout the firm.

Marilyn Brindle, CPA, Partner | Eide Bailly
Marilyn has approximately twenty-five years' experience in accounting and auditing, which includes sixteen years in public accounting and nine years of management level experience with a governmental entity. She was the Quality Control Partner for her previous firm, where she was responsible for coordinating and leading the quality control activities within the firm.

Scot Phillips, CPA, Partner-in-Charge of Audit & Assurance | Eide Bailly
Scot joined the firm in 2002 and is a highly experienced public accountant, serving privately held companies, employee benefit plans, governmental entities and nonprofit organizations. His work includes audits, reviews and compilations of financial statements, interpretations of financial information and assistance with acquisitions. Scot is a recognized leader in his field, as well as in his community, participating in many local business and professional associations.

Learning Objectives

  • Review updates from the Financial Standards Accounting Board
  • Discuss impacts of these changes to standard accounting practices
  • Determine new processes to adapt to these changes
  • Review updates to the audit, review and attestation standards

CPE: Up to 2 hours of credit each session for a total of 6 hours.

Federal Tax Update

SAVE THE DATE:

  • Federal Tax Update – 1-3 p.m. CT (Up to 10 Hours of CPE):
    • November 5
    • November 17
    • December 1
    • December 15
    • January 14

Additional Information:
This is a Group-Internet Based Webinar. All webinars are listed in Central time. No prerequisites or advanced preparation required.

The same content, Financial Accounting Standards Board (FASB) updates, will be covered in both the spring and fall sessions. Note: You are only eligible to receive CPE credit for attending one A&A Update series, not both the spring and fall sessions.

Each participant looking for CPE must register individually to receive a unique join link. This link will be tied to your name and email address. Sharing of connection links and/or group viewing will not count for CPE credit

For information regarding refund, complaint and program cancellation policies, please contact Amy DeGeorge.

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