Minnesota Society of Certified Public Accountants

1650 West 82nd Street, Ste 600
Bloomington MN 55431
Ph: 952-831-2707 Fax: 952-831-7875
www.mncpa.org

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21SR-0024: Staff Training: Basic (Virtual)

If you have questions about this event, please call us at 952-831-2707.

Date Multi-day course:
Wednesday, January 5, 2022 --
Thursday, January 6, 2022

Time 8:00am - 4:30pm
Central Time

Location Online

CPE credits CPE 24.0

Field(s)
of study Business Management & Organization - Non-Technical (0.0)
Auditing - Technical (0.0)
Taxes - Technical (0.0)
Accounting - Technical (0.0)

Instructor Richard Ferdinand, CPA

Fees

Standard Member Fee	$599.00
Standard Nonmember Fee	$649.00
Standard Partner State Member Fee	$599.00

Description

Training new staff is a solid investment in them and in your firm. In this course, your staff will get tools to improve efficiency, become more profitable and meet quality control standards. The curriculum, geared for both local and regional firms, bridges the gap between the theory students learn in college and the tools staff members need in practice. They'll get hands-on experience preparing workpapers, performing compilations and reviews, performing tax research and completing detailed audit tests.

This is a blended learning program that combines an interactive online course and self-study components. Participants are required to complete pre-work before the first day of class. The online course is interactive and attendees will participate in discussions, case studies and group work. Please have a computer or tablet with a functional webcam and microphone.

Who should take this program?

First-year CPA firm staff

Major subjects

Role of new staff -- total service approach to growth and ways new staff can contribute to the success of their clients and their firm
Audit objectives -- major steps in the audit process, analytical procedures, tests of controls, tests of transactions and test of balances
Practice critiquing a set of cash working papers -- common deficiencies in staff working papers (and methods to overcome them), proper audit schedules and using engagement management software
Analytical procedures -- case study practice identifying and following up on accounts that have a high risk of material misstatement
Compilation and review services -- different levels of assurance and responsibility associated with financial statement preparation engagements, compilations, reviews and audits
Procedures performed on compilations and reviews
Case study using an unadjusted trial balance from the books of a closely held corporation -- identifying accounts needing adjustments, preparing adjusting entries and preparing financial statements in accordance with GAAP
Tax recognition and research -- scenarios common to small- and medium-sized clients that have tax implications, and hands-on practice identifying those situations and performing basic tax research
Auditing and reviewing selected accounts -- identifying objectives applicable to a given account; designing and implementing procedures to provide sufficient evidence to meet the objectives; small group case analysis with auditing receivables, payables and inventories