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SAS 148 [Video]

SAS 148

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SAS 148 (https://www.aicpa.org/resources/download/aicpa-statement-on-auditing-standards-no-148) updates AU-C 935 for recent changes in SASes 142 and 145 which made the appendix out of date. AU-C 935 is used for Compliance Audits and helps auditors understand how to leverage the other AU-C sections when addressing noncompliance in lieu of misstatement. Changes impacting AU-C section 501 is aligned with the effective date of SAS 142. All other amendments in SAS 148 align with the effective date of SAS 145.

How often do you reference the appendix in AU-C 935 when performing Single Audits?

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Resources for Accountants

Overview of ASC 805 [Video]

Accounting for business combinations under ASC 805 can be quite complex! Do you know the difference between a business combination and an asset acquisition under U.S. GAAP? The answer to this question is important because the accounting is totally different! No worries. We have you covered in this CPE-eligible, eLearning course (1.5 CPE)! In this online course we begin with the definition of a business and whether a transaction falls within the scope of ASC 805. We then provide you with an overview of the 4-step acquisition method set out in ASC 805, including whether assets and liabilities acquired should be recognized apart from goodwill and, if so, how they should be measured. If you’re new to the accounting for business combinations under U.S. GAAP, this course is a great place to start! Take the course: https://www.gaapdynamics.com/product/business-combinations-overview-of-asc-805/ Buy all three courses and save! https://www.gaapdynamics.com/product/asc-805-business-combinations/ Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the GAAP Dynamics Learning Library: https://www.gaapdynamics.com/individual-learning/ Subscribe to GAAP Dynamics to see more videos like these!

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Resources for Accountants

Application of ASC 805 [Video]

This is the introductory video for the third course of the three-part Business Combinations eLearning series. Now that you are familiar with the basic accounting rules and certain ASC 805 advanced issues, this course will apply that knowledge by walking through an example acquisition and requiring you to identify the proper accounting treatment. Take the course: https://www.gaapdynamics.com/product/business-combinations-application-of-asc-805/ Buy all three courses and save! https://www.gaapdynamics.com/product/asc-805-business-combinations/ Learn more about GAAP Dynamics: https://www.gaapdynamics.com/ Check out our other online courses on the GAAP Dynamics Learning Library: https://www.gaapdynamics.com/individual-learning/ Subscribe to GAAP Dynamics to see more videos like these!

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Resources for Accountants

Internal Rate of Return (IRR) | Formula | Calculation with Example [Video]

In this video on internal rate of return (irr), here we learn formula, example of irr along with significance and its drawbacks.๐–๐ก๐š๐ญ ๐ข๐ฌ ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ฅ ๐‘๐š๐ญ๐ž ๐จ๐Ÿ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง (๐ˆ๐‘๐‘)?-------------------------------------------------------------------Internal return rate is the rate at which the net present value of the project is zero, the rate at which future cash flows are adjusted to calculate the present value.๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ฅ ๐‘๐š๐ญ๐ž ๐จ๐Ÿ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง (๐ˆ๐‘๐‘) ๐…๐จ๐ซ๐ฆ๐ฎ๐ฅ๐š-------------------------------------------------------------------NPV= 0= CF0 + CF1/(1+IRR)^1 + CF2/(1+IRR)^2 + ..... CFn/(1+IRR)^n๐’๐ญ๐ž๐ฉ๐ฌ ๐ญ๐จ ๐‚๐š๐ฅ๐œ๐ฎ๐ฅ๐š๐ญ๐ž ๐ˆ๐‘๐‘ ๐ข๐ง ๐„๐ฑ๐œ๐ž๐ฅ------------------------------------------------------#1 - Calculate Cash inflows and outflows in a standard format.#2 - Use the IRR formula in Excel#3 - Compare IRR to Discount Rate๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ฅ ๐‘๐š๐ญ๐ž ๐จ๐Ÿ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง (๐ˆ๐‘๐‘) ๐’๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐œ๐ž-------------------------------------------------------------------------The IRR of any project shall be estimated taking into account the following three assumptions:1- The investments made are kept until the maturity dates.2 - The intermediate cash flows will reinvest itself in IRR.3 - By nature all cash flows are periodic, or the time gaps between various cash flows are equal.To know more about ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ฅ ๐‘๐š๐ญ๐ž ๐จ๐Ÿ ๐‘๐ž๐ญ๐ฎ๐ซ๐ง (๐ˆ๐‘๐‘), you can go to this ๐ฅ๐ข๐ง๐ค ๐ก๐ž๐ซ๐ž:- https://www.wallstreetmojo.com/internal-rate-of-return-irr/Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe - https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1