Author Archives: Susan Cox, M.Acc., CPA

Sitting for AUD next January? SAS No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern is a standard that applies to all audits of a complete set of financial statements, including financial statements prepared in accordance with a general purpose or a special purpose framework. It will become testable on the CPA exam January 1, 2018.


On January 5, the Financial Accounting Standards Board (FASB) issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The definition of a business impacts many areas of accounting, such as acquisitions, disposals, consolidations, and goodwill. This ASU affects all reporting organizations that must determine whether they have acquired or sold […]