Compilations - Application of the Standard

Please Note: This is the on-demand version of this course and is approximately 5 hours in length, whereas the live virtual session runs for 7 hours. While both the on-demand and live virtual courses cover the same technical content, the on-demand format focuses on the technical application of the content and does not include the interactive discussions, real time Q&A, or collaborative exercises that are part of the live virtual experience.

Overview:

This course starts with an overview of the standards and then provides practitioners with practical application steps and guidance for the ongoing use of CSRS 4200 for compilation engagements. The course includes discussion and application of the components of the standard from engagement acceptance, performance, and completion on to reporting. Time will be spent on the major sections of the standard, breaking down the course into sections on planning, performance, and reporting, including the creation of working papers and documents to use as examples in practice. You will leave with an understanding of the standard, some working examples, and materials to use as a reference to apply in your practices.

There will be opportunities to apply the standard to different scenarios and make use of different approaches to the application of the standard’s components. This course will also provide best practices for compilation engagements and address frequently asked questions from practitioners with respect to CSRS 4200.

This course will include an overview of the standard and hands-on opportunities to review the application of the standard to different scenarios and client engagements.

Course Content:

In this course, you will gain knowledge about the following topics:

• CSRS 4200 Standard
  • Overview of the standard
  • Walk-through of the standard in detail (including case studies, group discussion, and creation of working papers/documentation/implementation plans) 
    • Requirements in Planning
    • Documentation
    • Reporting
    • Communications with the Client at different stages of the engagement
  • Best Practices for compilation engagements and address FAQs for CSRS 4200 specifically
  • Review of References/Materials Available for Application of the Standard

Learning Objectives:

By the end of this course, you should be able to:

• Apply CSRS 4200 from engagement acceptance to reporting for all compilation engagements in your practices
• Apply CSRS 4200 to a variety of situations, including the need to withdraw or events after issuance
• Develop plans to educate clients on the work done on their compilation engagements and how this improves the professional services they are receiving
• Apply best practices in conducting compilation engagements
• Describe what resources are available for practitioners in applying the standard to their practices

Who Will Benefit: 

New and experienced practitioners performing corporate income tax returns and compilation of financial statements engagements.