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Live Webcast Replay

Accounting & Auditing Update For Small Business - 2023

Total Credits: 4 including 2 Accounting - Technical, 2 Auditing- Technical

Average Rating:
Accounting and Auditing |  ACPEN Industry Institute
Melisa F. Galasso
Course Levels:
4 Hours
Product Setting: Expires 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


For many small businesses, the standards issued by the FASB may have little to no effect as they impact topics that do not reflect the type of transactions that these entities most frequently experience. This class will focus on the Accounting Standards Updates (ASUs) that are most likely to impact small businesses with a focus on ASUs initiated by the Private Company Council (PCC). We'll then look at alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs for entities who don't necessarily need to prepare GAAP financial statements but want to use accrual accounting. Finally, we will transition to audit standards that small business auditors will need to implement this year, including changes to auditing accounting estimates and risk assessment. 

Basic Course Information

Learning Objectives
  • Recall ASUs impacting small businesses
  • Identify the impact of SAS 143 on audit engagements
  • Identify the changes to risk assessment as a result of  SAS 145
  • Identify reporting options for small entities other than GAAP

Major Subjects
  • Private company ASUs
  • Audit evidence
  • Quality Management

Course Materials


Melisa F. Galasso's Profile

Melisa F. Galasso Related Seminars and Products

Founder and CEO

Galasso Learning Solutions LLC

Melisa Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical acconting and auditing topics, including not-for-profit and governmental accounting. She also supports essential professional development, audit level training, and train the trainer efforts. Melisa is a Certified Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA’s Board of Directors. She previously served on the AICPA’s Technical Issues Committee (TIC) and is a past-Chair of the NCACPA’s A&A committee. Melisa also authors the AICPA’s State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.



Mon, Mar 18, 2024 - 01:00pm to 04:40pm MDT
Thu, Mar 28, 2024 - 08:30am to 12:10pm MDT
Sat, Apr 06, 2024 - 01:00pm to 04:40pm MDT
Mon, Apr 08, 2024 - 09:00am to 12:40pm MDT
Thu, Apr 25, 2024 - 08:30am to 12:10pm MDT
Mon, Apr 29, 2024 - 01:00pm to 04:40pm MDT

Additional Info

Basic Course Information


Prior experience with US GAAP or GAAS

Advanced Preparation


Designed For

Ideal for accountants in public practice and industry

Original Recording Date


Course Developer

Galasso Learning Solutions

Date Added to Catalog


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199). 

Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.6

Total Reviews: 66


Robert L - Tampa, FL 33602, Florida

"Very good. "

Robert C - Coopersburg, Pennsylvania

"Thank You."

Marilyn A - Brick, New Jersey

"Great presenter!"

Robert W


Stafford T

"Great course for small business related updates."

Allen S - Detroit, Michigan

"Wonderful Class! Nice pace."