2020 Technical Accounting Update and 2021 Outlook

Field: Auditing | Delivery Method: Self Study | CPE Hours: 1.0

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Each year accountants and auditors must implement numerous updates from accounting standards/requirements outlined by the AICPA, FASB, PCAOB, SEC and others. The following information is related to Q1-Q4 2020 and is gathered from leading source economic publications.

Note: With the impact of COVID-19 and its unprecedented implications on our personal lives and businesses, much of this update will cover actions taken by regulatory bodies related to information important to accounting professionals.

COVID-19 has continued to place a choke hold on our lives, businesses and economy. The vaccine has arrived!!!! A great deal of the American public continues to be concerned about taking a vaccine that has broken historic time constraints in passing FDA requirements. In addition, there are questions surrounding the use of the word “vaccine”. Reports indicate the shot is aimed at boosting the individual immune system response to the virus. An individual can still contract the virus and pass it to others. This conundrum has made the decision on whether the vaccine is one that will create “herd” immunity is a big question.

This session will examine the overall 2020 economic conditions (mostly created from the pandemic). We will also review some of the most significant actions taken by the regulatory bodies such as the AICPA, SEC, PCAOB, FASB.

Lesson Objectives
  • Examine an economic update for 2020 and understand how it has impacted the profession.
  • Evaluate and examine regulatory updates for SEC, FASB and the AICPA and understand how they have impacted the profession.

Field: Auditing
CPE: 1
Delivery Method: Self-Study
Format: Video

Your Instructor

Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author

Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.

As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.

Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma

Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


Course Curriculum

  2020 Technical Accounting Update and 2021 Outlook
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