Chapter 1 1-1 FASB Accounting Standards Updates Broad Issues 1-1 FASB ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity''s Ability to Continue as a Going Concern 1-2 FASB ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory 1-5 FASB ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes 1-7 FASB ASU No. 2016-07, Investments Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting 1-9 FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities 1-10 FASB ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) 1-15 FASB ASU No. 2016-16, Income Taxes (Topic 740): Intra- Entity Transfers of Assets Other than Inventory 1-18 FASB ASU No.

2016-17, Consolidation (Topic 810): Interests Held Through Related Parties That Are Under Common Control 1-19 FASB ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) 1-21 FASB ASU No. 2017-01, Clarifying the Definition of a Business (Topic 805) 1-23 FASB ASU No. 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment 1-25 Chapter 2 2-1 FASB Accounting Standards Updates Narrowly Applicable 2-1 FASB ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis 2-2 FASB ASU No. 2015-03, Interest Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs 2-4 FASB ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments 2-6 Chapter 3 3-1 Revenue Recognition, Financial Instruments, and Leases 3-1 FASB ASU No. 2014-09, Revenue From Contracts with Customers (Topic 606) 3-2 FASB ASU No.

2016-01, Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities 3-18 FASB ASU No. 2016-02, Leases (Topic 842) 3-22 Chapter 4 4-1 Private Company Financial Reporting 4-1 Private Company Council 4-2 FASB ASU No. 2016-03, Intangibles Goodwill and Other (Topic 350), Business Combinations (Topic 805), Consolidation (Topic 810), Derivatives and Hedging (Topic 815): Effective Date and Transition Guidance (a consensus of the Private Company Council) 4-5 FASB ASU No. 2014-02, Intangibles Goodwill and Other (Topic 350): Accounting for Goodwill (a consensus of the Private Company Council) 4-7 FASB ASU No. 2014-03, Derivatives and Hedging (Topic 815): Accounting for Certain Receive-Variable, Pay-Fixed Interest Rate Swaps Simplified Hedge Accounting Approach (a consensus of the Private Company Council) 4-10 FASB ASU No. 2014-07, Consolidation (Topic 810): Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements (a consensus of the Private Company Council) 4-13 FASB ASU No. 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination (a consensus of the Private Company Council) 4-15 Current PCC Issues 4-17 Summary of PCC Activities 4-18 Chapter 5 5-1 FASB Exposure Drafts and Projects 5-1 Recognition and Measurement Projects 5-2 Presentation and Disclosure Projects 5-4 Chapter 6 6-1 The Current Environment and Implications for Audit Planning 6-1 Obtaining an Understanding of the Entity and Its Environment 6-2 Considering Economic Conditions to Lower Audit Engagement Risk 6-3 Other Issues to Monitor 6-12 Summary 6-14 Chapter 7 7-1 Recently Issued Auditing Standards 7-1 Recently Issued SASs 7-3 SAS No. 131, Amendment to SAS No.

122 Section 700, Forming an Opinion and Reporting on Financial Statement Audits 7-10 SAS No. 132, The Auditor''s Consideration of an Entity''s Ability to Continue as a Going Concern 7-13 Proposed SAS 7-19 Summary of Recently Issued Audit Interpretations 7-23 Summary 7-25 Chapter 8 8-1 Clarified Attestation Standards 8-1 Restructuring of the SSAEs 8-2 Recently Issued Measurement Criteria 8-6 Summary 8-13 Chapter 9 9-1 Recent Guidance From the PCAOB 9-1 Auditing Standards Projects Underway at the PCAOB 9-2 Proposed Auditing Standards 9-5 Summary 9-15 Chapter 10 10-1 Preparation, Compilation and Review Engagements Update 10-1 SSARS Clarity Project 10-2 Recently Issued SSARS 10-5 Recently Issued SSARS Interpretation 10-13 Exposure Draft of Proposed New Statements on Standards for Accounting and Review Services 10-15 Summary 10-16 Chapter 11 11-1 Other Recently Issued Guidance 11-1 Overview of COSO 11-2 Proposed Revision of COSO''s ERM Framework 11-3 Audit Quality Initiatives 11-9 Summary 11-17 Glossary 1 Index 1 Solutions 1 Chapter 1 Solutions 1 Chapter 2 Solutions 2 Chapter 3 Solutions 3 Chapter 4 Solutions 4 Chapter 5 Solutions 5 Chapter 6 Solutions 5 Chapter 7 Solutions 6 Chapter 8 Solutions 7 Chapter 9 Solutions 8 Chapter 10 Solutions 9 Chapter 11 Solutions 10 Recent Developments Users of this course material are encouraged to visit the AICPA website at www.aicpa.org/CPESupplements to access supplemental learning material reflecting recent developments that may be applicable to this course. The AICPA anticipates that supplemental materials will be made available on a quarterly basis. Also available on this site are links to the various "Standards Trackers" on the AlCPA''s Financial Reporting Center which include recent standard-setting activity in the areas of accounting and financial reporting, audit and attest, and compilation, review and preparation.