2012 cpe catalog - loscalzo associates · audit specific programs ... in addition, we continue to...

2012 CPE CATALOG

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AssociatesLoscalzo

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WHAT’S INSIDE:

Accounting specific programsCompilation & review specific programsAudit specific programsPrograms emphasizing A&A topicsEmployee benefit programsNot-for-profit programsEthics programs

Loscalzo Associates is registered with the National Association of State Boards of Accountancy (NASBA) as asponsor of continuing professional education on the National Registry of CPE Sponsors. State boards ofaccountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regardingregistered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite700, Nashville, TN, 37219-2417. Web site: www.nasba.org

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Dear Client/CPE Director:

I am pleased to provide you with our 2012 CPE catalogue. As many of you know, since assuming the Presidency of Loscalzo Associates in February 2011, I have been working hard to develop new programs for your CPE programming as well as improving our communications with all of you. In 2011, we developed new programs in the following areas:

Loscalzo’s 2011 FASB and AICPA Update (8 hours)

Loscalzo’s Accounts Payable Fraud: Overlooked Schemes and How to Prevent and Detect Them (8 hours)

Loscalzo’s Accounting and Auditing Considerations for 403(b) Plans (4 hours)

Loscalzo’s Professional Ethics for CPAs (4 hours)

Loscalzo’s Consolidation of Variable Interest Entities Revisited (2 hours)

These new programs have been some of our best‐selling programs in the 2011 reporting period.

For 2012, I have engaged a variety of experienced practitioners from both practice and industry to develop additional new CPE programming to help meet your ever changing needs. These new programs include:

1. New! Loscalzo’s 2012 FASB and AICPA Update (8 hours) – This program continues to be our number one selling program as it has been for the past 26 years. The 2012 version will emphasize the final FASB/IASB Joint Projects (Revenue Recognition, Lease Accounting, Fair Value, Financial Instruments, Presentation of Comprehensive Income, Financial Statement Presentation, etc.) as well as any new Accounting Standard Updates (ASUs) issued during 2011 through May of 2012. The Auditing Standards Board’s (ASB) Clarity Project is scheduled for completion in 2011 and will be addressed in this program. We will also discuss implementation issues associated with compilation and review engagements as well as audit engagements. Issues associated with IFRS and Private Company GAAP will also be addressed. With our 2, 4, and 8 hour versions of our Update course, you can select the type of update that will ease the implementation of the ever constant stream of new pronouncements as well as issues impacting the accounting profession. See page 1‐2.

2. New! Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues (8 hours) – Responding to numerous requests from our clients, we are developing a GASB financial reporting course available for the 2012 CPE reporting period. Topics will include Governmental Accounting Standards, Financial Statements and the Reporting Entity, Recently Issued GASB Statements, and Accounting and Disclosure issues. Goals of this new program include: understanding the issues faced by governments in today’s environment, helping them assess risk, recognizing and dealing with major accounting and disclosure issues impacting their clients or entities, and preparing complete and accurate financial statement disclosures. See page 1‐5.

3. New! Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness (8 hours) – This course is designed for CPAs in industry looking to improve their accounting department’s effectiveness as well as identifying skills and techniques that CPAs in industry can use to improve their own individual effectiveness. Topics will include: Role of the CFO/Controller, Elements of Effective Cash flow Management and Reporting, Financial Reporting, Financial Risk Management, and Analytical Financial Decision Tools. This program, combined with our existing AP Fraud program, should provide CPAs in industry with courses appropriately suited for their needs. See page 1‐4.

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4. New! Loscalzo’s Auditing Manual Utilizing the Risk‐Based Audit Standards (8 hours) – During the past two

years, we have seen an increased interest in our audit focused programs. These programs include Loscalzo’s Frequently Asked Questions on Audit Issues (4 hours), Loscalzo’s Planning Cost Efficient and Effective Audits (4 hours), and our highly successful Loscalzo’s Hands on Guide to Understanding and Testing Internal Controls (8 hours). With this increased interest, there have been requests from many of our clients for an all‐day program addressing the topic of risk‐based auditing – this program will achieve that goal. This course will address: Audit Planning, Linkage of Risk Assessments to the Appropriate Testing Strategies, Sampling Issues, Materiality Issues, Audit Evidence, Audit Results Evaluations and Peer Review Issues. See pages 1‐3 and 2‐3.

5. New! Loscalzo’s Professional Ethics for CPAs (4 hours) – We will be updating our best‐selling Ethics

program to address recent changes evolving from the AICPA’s Professional Ethics Committee as well as areas of focus in state board and AICPA disciplinary actions across the country. See page 7‐2.

In addition, we continue to be very proud of our continuing program inventory (which we update every year) as described in the following areas:

Compilation, Review, and Audit Focused Programs – See Section 2

Accounting Focused Programs – See Section 3

Not‐for‐Profit Accounting & Auditing Programs – See Section 4

Employee Benefit Plans Programs – See Section 5

Staff Level Training Programs – See Section 6

Finally, we are blessed with outstanding discussion leaders who year‐in and year‐out provide you with some of the best CPE programs available. Please review their bios and backgrounds on pages 9‐1 to 9‐23.

Please review our program offerings in this catalogue and if you have any questions, please call me at (732) 945‐0771, Helene at (732) 945‐0773 (State Societies), or Rose at (732) 945‐0775 (Accounting Firms and Associations) or email us at [email protected], [email protected], and [email protected]. Any general questions or issues concerning our offerings or Loscalzo related matters can be directed to Desi Smith, Administration Director, at (732) 945‐0774 or [email protected].

Sincerely,

John Fleming, CPA/MBA President Loscalzo Associates

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Table of Contents SECTION 1: New Programs – 2012 .............................................................................................................. 1-1

Loscalzo’s 2012 FASB and AICPA Update (ARU) – 8 hours .......................................................................... 1-2

Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards (RAS) – 8 hours ................................. 1-3

Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness (AFT) – 8 hours ............................. 1-4

Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues (GASB) – 8 hours .............. 1-5

Loscalzo’s Accounting and Auditing Update – 4 hours .................................................................................... 1-6

Loscalzo’s Accounting Standards Update – 2 hours .......................................................................... 1-7 and 8-2

SECTION 2: Compilation, Review, and Audit Focused Programs 2-1

Loscalzo’s Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them (FRAUDAP) – 8 hours ..................................................................................................... 2-2

NEW! Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards (RAS) – 8 hours ...................... 2-3

Loscalzo’s Compilation and Review Essentials – Rules for Local Practitioners (CRE) – 8 hours ................... 2-4

Loscalzo’s Documentation Techniques for Entry Level Staff (WPT) – 8 hours ............................................... 2-5

Loscalzo’s Hands on Guide to Understanding and Testing Internal Control (HGTC) – 8 hours ...................... 2-6

Loscalzo’s Implementation Guide to the Risk Assessment Standards (PPDA) – 8 hours ............................... 2-7

Loscalzo’s Tips on How to Review Documentation Effectively (WPR) – 8 hours ............................................ 2-8

Loscalzo’s Frequently Asked Questions on Audit Issues – 4 hours ................................................................ 2-9

Loscalzo’s Planning Cost Efficient and Effective Audits – 4 hours ............................................................... 2-10

Loscalzo’s Substantive Analytical Procedures Workshop – 4 hours ............................................................. 2-11

Also see the following program:

Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing (FAQ) – 8 hours .................. 3-3

SECTION 3: Accounting Focused Programs ............................................................................................. 3-1

Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis (AFS) – 8 hours .......... 3-2

Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing (FAQ) – 8 hours ................... 3-3

Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs (DAT) – 8 hours ......................................................................................... 3-4

Loscalzo’s Disclosure - The Key To Financial Statements (DKFS) – 8 hours ................................................. 3-5

Loscalzo’s GAAP Refresher (GAAP) – 8 hours ............................................................................................... 3-6

Loscalzo’s Introduction to the International Financial Reporting Standards (IFRS) – 8 hours ......................... 3-7

Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special Purpose Frameworks) (SPF) – 8 hours ........................................................................... 3-8

Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues (TPAR) – 8 hours .......................... 3-9

Loscalzo’s Fair Value Accounting in the 21st Century – 4 hours .................................................................... 3-10

Loscalzo’s Frequently Asked Questions in GAAP Financial Statements – 4 hours ....................................... 3-11

Loscalzo’s Pitfalls and Problems in Financial Statement Disclosures – 4 hours ........................................... 3-12

Loscalzo’s Using Tax Basis and Other Special Purpose Frameworks Presentations Effectively – 4 hours .. 3-13

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Table of Contents (continued) SECTION 4: Not-for-Profit Accounting & Auditing Programs .................................................................. 4-1

Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits (FMI) – 8 hours .................................. 4-2

NEW! Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues (GASB) – 8 hours ... 4-4

Loscalzo’s Not-for-Profit Auditing Made Easy (NFPME) – 8 hours ................................................................ 4-5

Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues (NFPARA) – 8 hours ...... 4-7

Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency (HGCA) – 8 hours .......... 4-8

Loscalzo’s Allocating Costs in Not-for-Profit Organizations – 4 hours ......................................................... 4-10

Loscalzo’s Case Studies in Compliance Auditing – 4 hours ......................................................................... 4-11

Loscalzo’s Case Studies in Complex Not-for-Profit Accounting and Disclosure Issues – 4 hours ............... 4-12

Loscalzo’s Identifying and Addressing the Risk of Fraud in Not-for-Profit Organizations – 4 hours ............. 4-13

Loscalzo’s Testing Internal Control Over Compliance and Compliance for Major Programs and Evaluating and Reporting the Results Obtained – 4 hours ........................................................................ 4-14

Also see the following programs:

Loscalzo’s Analytical Procedures for Not-for-Profit Organizations – 2 hours ................................................. 8-3

Loscalzo’s Effective Use of OMB Circulars – 2 hours .................................................................................... 8-5

Loscalzo’s Selecting Major Programs for OMB Circular A-133 Audits – 2 hours ........................................... 8-9

Loscalzo’s Understanding the Requirements of Government Auditing Standards (Yellow Book) – 2 hours .... 8-12

SECTION 5: Employee Benefit Plans Programs ........................................................................................ 5-1

Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) (DCPP) – 8 hours ...... 5-2

Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans (AEBP) – 8 hours ... 5-3

Loscalzo’s Accounting and Auditing Considerations for 403(b) Plans – 4 hours ............................................ 5-4


Loscalzo’s 11-K Employee Benefit Plan Audits – 2 hours .............................................................................. 8-2 SECTION 6: Staff Level Training Programs .............................................................................................. 6-1

Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days (SL1) – 16 hours ................................................. 6-2

Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days (SL2) – 16 hours ............................................... 6-3

Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days (SL3) – 16 hours ............................................................ 6-4

SECTION 7: Professional Ethics Programs .............................................................................................. 7-1

Loscalzo’s Professional Ethics for CPAs – 4 hours ........................................................................................ 7-2

SECTION 8: Loscalzo’s Two Hour Shuffle Programs ............................................................................... 8-1

SECTION 9: Loscalzo’s 2012 Discussion Leaders ................................................................................... 9-1

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To order call (732) 741-1600 1-1 Visit our website: www.loscalzo.com

SSEECCTTIIOONN 11:: NNEEWW PPRROOGGRRAAMMSS -- 22001122 Loscalzo’s 2012 FASB and AICPA Update (ARU) – 8 hours ......................................................................... 1-2

Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards (RAS) – 8 hours ................................ 1-3

Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness (AFT) – 8 hours ............................ 1-4

Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues (GASB) – 8 hours ............. 1-5

Loscalzo’s Accounting and Auditing Update – 4 hours ................................................................................... 1-6

Loscalzo’s Accounting Standards Update – 2 hours ......................................................................... 1-7 and 8-2


Loscalzo’s 2012 FASB and AICPA Update ARU Why Attend This Course? This course is a must to keep you on top of the changes you need to know to be effective. The course authors evaluate and emphasize those standards with broad application and offer detailed practical guidance and illustrations. Synopses are provided for specialized issues. Designed for All firms, all staff, all CPAs primarily focused on non-public entities – all accountants needing a good year-round update on recently issued standards Objective Participants will be able to apply the provisions and discuss the issues surrounding recently issued accounting, auditing, compilation and review pronouncements, and relevant proposals Major Subjects This course does not focus on pronouncements with an SEC orientation. Special emphasis is placed on those pronouncements and proposals impacting non-public entities. The program will focus on: Relevant Accounting Standards Updates to the FASB codification issued in 2011 and 2012… Accounting issues in the current economic environment… FASB/IASB joint projects… Audit services issues... Compilation and review issues Presentation Method Field of Study Group-live; lecture and group discussion of cases Accounting and Auditing and discussion questions

Level of Knowledge Availability Date Update 6/1/2012

Prerequisites Author(s) Basic audit and accounting course or experience John Fleming, CPA and

Deborah Rose, CPA

Advance Preparation Recommended CPE Credit Participants are asked to read the pronouncements Accounting – 5 hours before attending the session Auditing – 3 hours

Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, Bob Schapperle, and Marci Thomas

Section on auditing standards qualifies for the 24 hour Yellow Book requirement. Section on specific accounting standards qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

Participant Comments “Great course! Examples and case studies helped tremendously to reinforce topics.” “This is a terrific update course, the best there is.” “One of the best updates I’ve ever attended; most don’t talk detail and move too fast to make new issues understandable.” “I appreciated the many examples and actual journal entries.” “Course materials are top notch.” “Excellent course (I come every year!)” “This is best FASB update I have attended.” “Loscalzo never fails to deliver. Excellent seminar.” “The course is the one I rely on to keep up-to-date each year for A&A. I put it on my calendar as soon as the catalog is released each year.” “Loscalzo’s materials are always ‘spot on’.” “I’m a tax person and I found the program quite interesting, due to skill of instructor and quality of materials.” “The course instructors are very knowledgeable with great presentation skills.” “I attend this course every year. As a peer reviewer I recommend this course to the firms I review. I’m impressed with the extent Loscalzo goes, to verify the accuracy of its material, and of current developments.” “I learned more during the first hour than I expected to learn all day! I’ll be back next year.”

NEW


Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards RAS Why Attend This Course? Since the implementation of the risk-based audit standards for 2007 fiscal year audits, auditors of private entities have struggled to create an efficient and effective audit strategy while in many cases having to make significant changes to their overall audit approach. This program will review the requirements of risk-based auditing using the redrafted audit standards issued by the Auditing Standards Board in 2011, address best practices when conducting planning and risk assessment procedures, describe audit testing strategies including sampling and internal control testing, and illustrate documentation examples that comply with the risk assessment standards. Designed for Audit practitioners having responsibility for planning and supervising audits as well as other members of audit engagement teams involved with audits of non-public entities. Objective Participants will be able to: Apply the risk-based audit standards Apply risk assessment audit procedures Develop effective and efficient audit strategies for private entity audits Select effective and efficient audit testing strategies Determine when it might be more efficient to perform internal control testing Major Subjects Risk assessment process… Risk assessment procedures… Audit planning… Audit strategy… Testing strategies… Internal control testing… Risk assessment audit standards… Sampling applications… Sufficiency of evidence… Documentation… Best practices… Linked and tailored audit procedures. Presentation Method Field of Study Lecture and group discussion Auditing

Level of Knowledge Availability Date Basic/Intermediate 2/15/2012

Prerequisites Author(s) Basic auditing course or equivalent experience John Fleming, CPA, MBA

Laurie Horvath, CPA William Kraut, CPA

Advance Preparation Recommended CPE Credit None 8 hours

Course taught by Greg Clark, Christa Dunn, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Bob Schapperle and Marci Thomas

NEW


Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness AFT Why Attend This Course? This course is designed to help you improve the effectiveness and efficiency of your finance and accounting teams. It is designed for all sized entities and the practical tips will include detailed practical guidance and illustrations. It offers detailed practical guidance and illustrations. Synopses are provided for specialized issues. Designed for This course is for CFOs, Treasurers, and Controllers. This course can also be used as a refresher, by giving you a broad overview of the critical pieces in running and administering the accounting and finance functions in your organization. Objective Participants will be able to apply the knowledge they obtain in this program to their day-to-day operations of closing, cash management, forecasting, and operational dashboards as well as the longer term tasks of bank management, budgeting, inventory control and costing and accounts receivable management. Major Subjects This program will focus across the companies’ administrative functions, with stronger emphasis on those items which drive the cash management, the forecasting, and managerial accounting needs of an organization. We will provide practical processes examples to help you improve your year end, bank, payroll, and sales tax audits. We will also provide some practical advice on dealing with the variety of items that come up in your accounting department. Presentation Method Field of Study Group-live; lecture and group discussion of cases Accounting and discussion questions

Level of Knowledge Availability Date Intermediate February 15, 2012

Prerequisites Author(s) Accounting experience Bernie Brown, CPA and

John Fleming, CPA

Advance Preparation Recommended CPE Credit Practical work experience in the Accounting – 8 hours accounting and finance functions

Course taught by Bernie Brown and Mark Mishler

NEW


Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues GASB

Why Attend This Course? Governmental entities are subject to very complex accounting and disclosure requirements. Over the last 3 years, the GASB has issued numerous pronouncements, nine of which have effective dates through June 30, 2012. In this environment, governmental executives and their auditors must focus on the transparency in financial reporting. In addition, many governments are experiencing fiscal crises, and there has been an increase in auditors issuing going concern opinions. This program provides a 2012 update of the issues at the forefront of industry to assist the auditor in assessing risk. It also includes consideration of the major accounting and disclosure issues specific to governments.

Designed for Practitioners working with governments in public practice Accountants working in governments who need to keep on top of current accounting and disclosure

requirements

Objective Participants will be able to: Apply solutions to the issues faced by governments in today’s environment which will help them assess risk Recognize and deal with major accounting and disclosure issues impacting their clients or entities Prepare complete and accurate financial disclosures

Major Subjects Governmental industry update 2012… Major accounting and disclosure issues specific to governmental entities– Reporting entity, Management’s Discussion & Analysis, leases, cash and investments (valuation and disclosure), compensated absences, landfill closure and postclosure care costs, nonexchange transactions, risk financing and insurance related activities, capital assets, debt and other obligations, pensions, postemployment benefits, educational and other governmental entities

Presentation Method Field of Study Group-live; lecture and group discussion of questions Accounting (Governmental)

Level of Knowledge Availability Date Intermediate 2/15/2012

Prerequisites Author(s) Basic familiarity with governmental accounting Margaret Thomas, CPA, MHA

Advance Preparation Recommended CPE Credit None 8 hours Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

Course taught by Margaret Thomas

NEW


Loscalzo’s Accounting and Auditing Update Why Attend This Course? This program is a must to keep you on top of the changes you need to know to be effective. The course authors evaluate and emphasize those standards with broad application and develop detailed practical guidance and illustrations. Synopses are provided for specialized issues. Note: This is a four hour version of our full day program “Loscalzo’s 2012 FASB and AICPA Update.” Designed for All firms, all staff, all CPAs primarily focused on privately-held companies – all accountants needing a good year-round update on recently issued standards Objective Participants will be able to apply the provisions of recently issued accounting and auditing pronouncements

Major Subjects The program will focus on: Relevant Accounting Standards Updates to the FASB codification issued after 2011... Audit Issues… Compilation and review issues Presentation Method Field of Study Group-live Accounting and Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None John Fleming, CPA and Deborah Rose, CPA Advance Preparation Recommended CPE Credit None Accounting – 2 hours Auditing – 2 hours Course taught by Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, Bob Schapperle, and Marci Thomas Section on auditing standards qualifies for the 24 hour Yellow Book requirement. Section on accounting standards qualifies for 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

NEW


Loscalzo’s Accounting Standards Update Why Attend This Course? This session will provide an overview of changes made by accounting standards updates issued after June 2011. Only pronouncements with broad application will covered in detail. For other issues, a quick synopsis will be provided.

Note: This is a two hour version of our full day program “Loscalzo’s 2012 FASB and AICPA Update.” Designed for All firms, all staff, all CPAs primarily focused on privately-held companies – all accountants needing a good year-round update on recently issued accounting standards Objective Participants will be able to apply new accounting standard updates (ASUs) Major Subjects Relevant accounting pronouncements issued since June 2011 Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None John Fleming, CPA and Deborah Rose, CPA Advance Preparation Recommended CPE Credit None 2 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, Bob Schapperle, and Marci Thomas

Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

NEW


SSEECCTTIIOONN 22:: CCOOMMPPIILLAATTIIOONN,, RREEVVIIEEWW,, AANNDD AAUUDDIITT FFOOCCUUSSEEDD PPRROOGGRRAAMMSS Loscalzo’s Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them (FRAUDAP) – 8 hours ....................................................................................................... 2-2

NEW! Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards (RAS) – 8 hours ........................ 2-3

Loscalzo’s Compilation and Review Essentials – Rules for Local Practitioners (CRE) – 8 hours ..................... 2-4

Loscalzo’s Documentation Techniques for Entry Level Staff (WPT) – 8 hours ................................................. 2-5

Loscalzo’s Hands on Guide to Understanding and Testing Internal Control (HGTC) – 8 hours ........................ 2-6

Loscalzo’s Implementation Guide to the Risk Assessment Standards (PPDA) – 8 hours ................................. 2-7

Loscalzo’s Tips on How to Review Documentation Effectively (WPR) – 8 hours .............................................. 2-8

Loscalzo’s Frequently Asked Questions on Audit Issues – 4 hours .................................................................. 2-9

Loscalzo’s Planning Cost Efficient and Effective Audits – 4 hours ................................................................. 2-10

Loscalzo’s Substantive Analytical Procedures Workshop – 4 hours ............................................................... 2-11

Also see the following program:

Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing (FAQ) – 8 hours .................... 3-3


Loscalzo’s Accounts Payable Fraud: FRAUDAP Overlooked Schemes and How to Detect and Prevent Them Why Attend This Course? Accounts Payable (AP) Fraud is widely overlooked and underestimated as a costly threat to ALL organizations. Businesses suffer an average of $155,000 every time an insider commits fraud according to the Association of Certified Fraud Examiners. More disturbing: Billing schemes are by far the most common frauds threatening smaller companies, making up nearly one-third of the total. Adding to the problem, check fraud is rising at a rate of 25% per year and criminals are coming up with new high-tech ways of hijacking corporate ACH (Automated Clearing House) accounts. Participants will learn how to identify varieties of AP-related fraud schemes damaging organizations of all kinds, especially small businesses and non-profits, and determine how shrewd insiders abuse the AP process to embezzle funds for years before being detected—and how to shorten the time before discovery. The program will enable them to quickly recognize the red flags of AP fraud in a client’s operations and financial records and will assist them in providing cost-effective anti-fraud controls to protect against the growing army of fraudsters both inside and outside their organizations. Designed for Accounting and audit practitioners, AP managers, senior financial management seeking to reduce their vulnerability to costly frauds in an economy where the risks and potentially losses from AP schemes are especially great. Objectives Participants will be able to: Conduct a quick and cost-effective Fraud Risk Assessment for client AP operations Implement effective AP fraud detection techniques and build audit practices to detect red flags of AP fraud Implement best-practice Anti-Fraud Control strategies for AP Advise management on fraud risk mitigation through transaction monitoring, technology/information

technology tools and low-cost internal controls Recommend better anti-fraud management structure (Board of Directors/Executive Management, Line

Management, Compliance, General Counsel, etc.)

Major Subjects Vendor/billing fraud schemes… Check fraud and tampering… ACH fraud… Fraudulent AP financial reporting… Kickbacks/bribery… Conflicts of interest… P-Card fraud… Red flags of AP fraud… Fraud risk assessment basics… Fraud detection/fraud audit… Anti-fraud control best practices Presentation Method Field of Study Group-live; lecture and group discussion of cases Auditing and discussion questions Level of Knowledge Availability Date Intermediate 5/1/2012 Prerequisites Author(s) Basic familiarity with institutional/occupational fraud Peter Goldmann, MSc., CFE Advance Preparation Recommended CPE Credit None 8 hours Course taught by Bernie Brown, Greg Clark, Christa Dunn, John Fleming, Peter Goldmann, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Bob Schapperle, and James Woy


Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards RAS Why Attend This Course? Since the implementation of the risk-based audit standards for 2007 fiscal year audits, auditors of private entities have struggled to create an efficient and effective audit strategy while in many cases having to make significant changes to their overall audit approach. This program will review the requirements of risk-based auditing using the redrafted audit standards issued by the Auditing Standards Board in 2011, address best practices when conducting planning and risk assessment procedures, describe audit testing strategies including sampling and internal control testing, and illustrate documentation examples that comply with the risk assessment standards. Designed for Audit practitioners having responsibility for planning and supervising audits as well as other members of audit engagement teams involved with audits of non-public entities. Objective Participants will be able to: Apply the risk-based audit standards Apply risk assessment audit procedures Develop effective and efficient audit strategies for private entity audits Select effective and efficient audit testing strategies Determine when it might be more efficient to perform internal control testing Major Subjects Risk assessment process… Risk assessment procedures… Audit planning… Audit strategy… Testing strategies… Internal control testing… Risk assessment audit standards… Sampling applications… Sufficiency of evidence… Documentation… Best practices… Linked and tailored audit procedures. Presentation Method Field of Study Lecture and group discussion Auditing

Level of Knowledge Availability Date Basic / Intermediate 2/15/2012

Prerequisites Author(s) Basic auditing course or equivalent experience John Fleming, CPA, MBA

Laurie Horvath, CPA William Kraut, CPA


Course taught by Greg Clark, Christa Dunn, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Bob Schapperle and Marci Thomas

NEW


Loscalzo’s Compilation and Review Essentials – CRE Rules for Local Practitioners Why Attend This Course? Compilation and review issues have dominated the profession during the past few years due to the updating of the compilation and review literature by the SSARS Committee and the issuance of SSARS 19 effective for compilations and reviews performed for periods ending after December 15, 2010. This program addresses the changes and current performance requirements in the compilation and review literature such that practitioners will be able to perform these services in compliance with the current standards.

The manual also includes a number of “Best Practices Tips”.

Designed for Practitioners who perform bookkeeping, compilations, and reviews for non-public entities.

Objective Participants will be able to: Identify changes made to the SSARS standards Effectively perform compilations and reviews under the new standards Efficiently document compilations and reviews under the new standards Identify requirements when non-traditional issues are faced

Major Subjects SSARS codification… Compilation performance requirements… Review performance requirements… How to document and perform compilations and reviews under SSARS 19… Special Purpose Frameworks financial statements – what they are and when they can be used... How to perform and document analytical procedures appropriately, including developing expectations and easy to use templates… Independence… Common issues raised in peer reviews Presentation Method Field of Study Group-live; lecture and group discussion of Auditing discussion questions


Prerequisites Author(s) Basic familiarity with SSARS William Loscalzo, CPA


Course taught by Greg Clark, Christa Dunn, Jack Ellovich, Richard Ferdinand, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Jim Newhard, Robin Ring, Deborah Rose, Bob Shapperle, and James Woy Participant Comments “Very good reference material for later.” “I didn't think you could say anything new about compilations & reviews but you did.” “Program was a great quality as usual!” “Always excellent. Thank you.” “The Loscalzo materials are always a good reference.” “Very good course! Not just an update of new rules, but a great reminder of the old rules ongoing. Just what I needed.” “Excellent course! Likely the best combination of presenter, relevancy, and course materials I have ever experienced. I highly recommend this course and presenter.” “The BEST compilation and review course I have attended.” “The course was very educational and interesting.” “Very good summary of changes in standards.” “Course is very informative.” “This course is very helpful and will serve as a useful resource for the local practitioner.”


Loscalzo’s Documentation Techniques for Entry Level Staff WPT Why Attend This Course? Prepare workpapers that will minimize review notes and cut down on your time. Through interactive cases, you will learn how to: Perform procedures typically assigned to first year staff accountants Document accounting, compilation, review, and audit services Link identified risks to audit responses This course is a must to help new staff “hit the ground running.”

Designed for New entry level staff accountants (less than one year of experience). The course allows participants to easily make the transition from the classroom to the “real world”. Objective Participants will be able to: Prepare documentation for a compilation, a review, and an audit that clearly, concisely, and completely

document the work performed Perform those procedures typically assigned to first year staff accountants Major Subjects Topics include: Practical documentation formats that eliminate unnecessary work... The ABCs of preparing documentation, including SAS 103 (redrafted) requirements... Typical documentation deficiencies... Analysis of receivables... Property, plant and equipment – capitalization, depreciation and leases... Payables and other accrued liabilities... Documentation of revenue and expenses Presentation Method Field of Study Group-live; lecture and group discussion of cases Auditing requiring actual preparation of documentation Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Loscalzo, CPA and John Fleming, CPA

Advance Preparation Recommended CPE Credit Participants should bring a calculator 8 hours to the session Course taught by Christa Dunn, Richard Ferdinand, John Fleming, Laurie Horvath, Carolyn Jeff, and Rebecca Lee Participant Comments “A very good course before taking the audit/attestation part of the CPA exam.” “I enjoyed the case studies. They helped us understand the topics better.” “I feel the course material will be very helpful in preparing as well as reviewing workpapers.” “Like the cases and groupwork. Nice program materials => good resource.”


Loscalzo’s Hands on Guide to Understanding and HGTC Testing Internal Control Why Attend This Course? Following the Auditing Standards Board’s (ASB) risk assessment standards, auditors have no choice but to better understand internal controls in order to assess the design of controls and determine if they have been implemented. This course will provide the auditor of small to midsize entities with tips, tools and techniques to efficiently document their understanding of the client’s controls and to determine where it is either necessary or more efficient to test them. In addition, the program will illustrate how to test internal controls efficiently at the financial statement and assertion level. This program is also recommended for persons working in industry who would like to learn more about improving their entity’s internal controls and avoiding SAS No. 115 comments.

Designed for Audit practitioners working on audits of non-public companies Accountants in industry who want to improve their entity’s internal controls

Objective Participants will be able to: Apply the five COSO elements of internal control Differentiate between understanding and testing internal controls Document the understanding of internal controls at the appropriate level Test and document the results of tests of internal controls Issue a SAS 115 report

Major Subjects Introduction to the risk assessment audit approach… COSO Framework… Internal Control Over Financial Reporting: Guidance for smaller public companies (COSO publication)… Monitoring (COSO publication)… Understanding the design of controls at the entity level and at the activity (financial statement assertion) level with an emphasis on manual control activities… Determining whether controls have been implemented… Effective and efficient tests of controls… Multi-purpose tests... Documentation techniques... Use of service auditor reports (updated for SSAE 16)… SAS 115 reporting requirements… Sample SAS 115 and management letter comments and recommendations

Presentation Method Field of Study Group-live; lecture, case studies, and discussion questions Auditing


Prerequisites Author(s) Basic audit course or experience Margaret Thomas, CPA, MHA

Advance Preparation Recommended CPE Credit None 8 hours Course taught by Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Mark Mishler, Marci Thomas, and James Woy

Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

It is recommended that this course not be scheduled back to back with “Loscalzo’s Not-for-Profit Auditing Made Easy.” Participant Comments “Nice overview of internal control, when and how to test and what the auditor must consider in evaluating the usefulness of controls.” “There are some good case studies and real world applications related to overall risk assessment process that will be helpful in developing efficiencies.” “This was one of the best courses related to the risk assessment/internal control courses I have ever been to.” “Excellent – love the hands on experience perspective of this course.” “Outstanding. Excellent reference material.” “The course was full of beneficial ideas and useful tips that our firm will use.” “Excellent course in dealing with internal controls & the associated documentation needed to comply with the standards.” “The course was great for any level employee.” “The examples for small and mid-size companies were extremely helpful.” “Take this course if you are going to do audits.”


Loscalzo’s Implementation Guide to the PPDA Risk Assessment Standards Includes templates for audit strategy and audit plans

Why Attend This Course? Looking for a course that will help you understand exactly what is required under the risk assessment standards. With these standards, auditors of smaller non-public companies may be overwhelmed with the level of documentation they believe is required to satisfy professional standards. This program will help you understand how to perform and document the most efficient audit possible under the risk assessment standards. This program provides a practical approach to controls, sampling and linking risk assessment to required audit procedures.

Designed for Practitioners looking for a practical approach to designing and completing a non-public company audit under the risk assessment SASs

Objective Participants will be able to: Prepare documentation of the audit plan and audit strategy Link risk assessments with further audit procedures Customize audit programs

Major Subjects Practical guidance on required work for real world smaller company internal controls… Determining when to assess controls and how to do it… Performing tests of controls to streamline substantive testing… Documenting the audit strategy… Performing risk assessment procedures… Performing substantive tests in the most efficient manner… Evaluating known and likely misstatements

Presentation Method Field of Study Group-live; using a small non-public company, the Auditing participants will walk through selected areas of an audit, with complete illustrative templates

Level of Knowledge Availability Date Basic 5/1/2012

Prerequisites Author(s) None William Loscalzo, CPA

Advance Preparation Recommended CPE Credit None 8 hours Course taught by Greg Clark, Christa Dunn, John Fleming, Laurie Horvath, Rebecca Lee, and James Woy


It is recommended that this course not be scheduled back to back with “Loscalzo’s Not-for-Profit Auditing Made Easy.” Participant Comments “Excellent as usual (expectations met/exceeded)” “One of the best seminars I have been to in the last 16 years.” “Great hands on examples provided in manual that can be easily utilized in our practice.” “Really helpful, practical class – thanks!” “Best course yet in regards to risk assessment.” “The quality of Bill’s material is standard setting, and this is very important where new promulgation is concerned.” “Best course I’ve attended in a long time. Have attended other courses related to this topic and this is the best presentation & best discussion leader & materials.” “Discussion leader was great. Even greater were the audit planning/programs in your materials.” “I’ve been to several Loscalzo seminars and they are always the best, most educational and informative.” “The course will certainly benefit everyone who has an audit upcoming at the end of the year.” “Materials were well laid out and will be referred to many times.” “I go to many classes every year. This seminar was one of the best I have ever been to. Extremely practical.” “This was one of the best seminars I’ve attended.” “Best auditing class I have had.” “Let’s use Loscalzo more often. We older practitioners like fresh ideas and presentations.”


Loscalzo’s Tips on How to Review Documentation Effectively WPR Includes Practice Aid Why Attend This Course? Cut down review time by: Understanding the documentation issues caused by SSARS, and the Risk Assessment Audit Standards Learning tips on how to quickly catch problems and motivate staff to correct them Motivating staff to correct documentation “deficiencies”

Through a series of interactive cases, you will get practice with reviewing engagement files.

Designed for The in-charge accountant responsible for supervising the engagement

Objective Participants will be able to: Perform an effective review of documentation Document the review process Communicate deficiencies to staff Differentiate between review responsibilities of an in-charge, supervisor, and partner

Major Subjects Program illustrates how effective review of documentation can prevent peer review problems... Documentation requirements under the risk assessment SASs and SSARS requirements... Common documentation problems... Approaches to workpaper review... Effective communication techniques that boost morale, not deflate it... Documentation of the review process... Case studies dealing with “live” documentation problems for both reviews and audits Presentation Method Field of Study Group-live; lecture and case study approach. Participants Auditing will be asked to review problem documentation


Prerequisites Author(s) None John Fleming, CPA and Margaret Loscalzo, CPA


Course taught by Greg Clark, Christa Dunn, Jack Ellovich, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Deborah Rose, Bob Shapperle, and Marci Thomas Participant Comments “Very good material and case study.” “The best auditing seminar I have attended!” “Good to see actual examples.” “This is the first CPE I’ve taken that I enjoyed the case studies.” “This is probably one of the best classes I have taken recently. The class was interactive and very useful to my role set at work.” “I would recommend this course highly for new in-charges, seniors, etc.” “Excellent seminar also very up to date with the latest SSARS, SASs & FASBs.” “Superb Presentation.” “Course material will be a good reference to workpapers in the future.” “The role playing is an excellent idea. Keeping the audience involved is very important.” “Hands-on exercises and assignments will help retain subject matter.”


Loscalzo’s Frequently Asked Questions on Audit Issues Why Attend This Course? Using the popular “Frequently Asked Question” format, this session will take a deeper dive into issues where auditors continue to have questions. It will deal with risk assessment implementation issues, efficiency issues for smaller clients, sampling and more.

Designed for All practitioners in public practice

Objective Participants will be able to efficiently apply auditing literature to a variety of troublesome issues

Major Subjects Audit risk… Documenting consideration of presumed risks of fraud… Inherent risk and its role in combined risk… Monitoring… Key controls... Process vs. controls… When testing controls makes sense and when it doesn’t… Significant risks… Difference between assessment of risk at high and significant risks… Linkage… Report on internal control (significant deficiencies and material weaknesses)… Communications with those charged with governance (in planning and at the end of the audit)… Using a service organization auditor’s report (SSAE 16) Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Thomas, CPA, MHA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, Christa Dunn, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Marci Thomas



Loscalzo’s Planning Cost Efficient And Effective Audits Why Attend This Course? Many auditors still view planning as merely a compliance requirement. But those conducting profitable audits know that planning is the key to good realization. This program will walk you through the technical requirements of audit planning under the redrafted audit standards and illustrate how those requirements can truly identify how to cut time on the job. Designed for Those in public practice Objective Participants will be able to plan an engagement following the risk assessment standards Major Subjects Using knowledge of the client and its industry to identify risk areas… Materiality decisions that streamline testing… Revisiting control risk assessment under the risk assessment SASs… Applying fraud risk assessment rules… Making the best use of analytical procedures Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None John Fleming, CPA, William Loscalzo, CPA, and Deborah Rose, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, Christa Dunn, John Fleming, Laurie Horvath, Rebecca Lee, and Deborah Rose Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Substantive Analytical Procedures Workshop Why Attend This Course? This course will provide participants with hands-on techniques on how to perform substantive analytical procedures (APs) in an audit engagement. Designed for Accountants in public practice Objective Participants will learn how to develop expectations, perform and document substantive analyticals Major Subjects Types of analytical procedures and which work best – period to period comparisons; scanning the general ledger; analysis of relationships among accounts; comparison to industry standards; comparison of financial to non-financial data; comparison to anticipated results; ratios… Developing expectations… Factors to be considered in using APs as a substantive test… Disaggregated and nonfinancial analytical procedures… Evaluation of differences… Documentation issues Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None John Fleming, CPA, Margaret Loscalzo, CPA, William Loscalzo, CPA, and Deborah Rose, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


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Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis (AFS) – 8 hours ... 3-2

Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing (FAQ) – 8 hours .................... 3-3

Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs (DAT) – 8 hours ........................................................................................... 3-4

Loscalzo’s Disclosure - The Key To Financial Statements (DKFS) – 8 hours ................................................... 3-5

Loscalzo’s GAAP Refresher (GAAP) – 8 hours ................................................................................................. 3-6

Loscalzo’s Introduction to the International Financial Reporting Standards (IFRS) – 8 hours .......................... 3-7

Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special Purpose Frameworks) (SPF) – 8 hours ............................................................................. 3-8

Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues (TPAR) – 8 hours ............................ 3-9

Loscalzo’s Fair Value Accounting in the 21st Century – 4 hours ...................................................................... 3-10

Loscalzo’s Frequently Asked Questions in GAAP Financial Statements – 4 hours ........................................ 3-11

Loscalzo’s Pitfalls and Problems in Financial Statement Disclosures – 4 hours ............................................. 3-12

Loscalzo’s Using Tax Basis and Other Special Purpose Frameworks Presentations Effectively – 4 hours .... 3-13


Loscalzo’s Analyzing Financial Statements, AFS Including Techniques for Cash Flow Analysis Good Industry Course

Why Attend This Course? Re-examine traditional analysis techniques to recognize their strengths and limitations when performing financial statement analysis. Take analysis to a new level by incorporating cash flow based measurements. Utilize cases ranging from public companies to small privately-helds to assess profitability and management of resources.

Designed for CPAs and accountants in industry who analyze financial results to enhance evaluation of operations and develop business strategies

Objective Participants will be able to: Apply both traditional and non-traditional financial statement analysis techniques for specific entities and

objectives Use cash flow statements and cash-based ratios to find the real meaning behind accrual-based data Evaluate the quality of reported earnings Incorporate use of industry data for benchmarking and best practices analysis

Major Subjects Reading between the lines – what the numbers really mean... Impact on analysis of GAAP trends and information outside the financial statements… The importance of cash flows… Cash flow analysis techniques… Finding and using relevant industry data for large and small companies… Examples of reports generated by commercial software packages… Which ratios tell the real story? Presentation Method Field of Study Group-live; lecture and group discussion of case studies and Accounting discussion questions


Prerequisites Author(s) None Deborah Rose, CPA John Fleming, CPA and Denise Stefano, CPA


Course taught by Bernie Brown, Greg Clark, Jack Ellovich, Richard Ferdinand, John Fleming, Rebecca Lee, Mark Mishler, Jim Newhard, and Deborah Rose Participant Comments “Outstanding!” “Best accounting/finance course ever.” “I like that we had to do problems in and during the course so that you are actually learning sometimes instead of just sitting and listening.” “I really got a lot out of the class that I can use in my job.” “Best financial statement analysis presentation I’ve seen.” “Very good and interesting case studies.” “Good information on ratios that banks are looking at to extend loans. Also, good for determining financial health of companies.” “Relaxed style, non-confrontational approach. Working in teams a great idea. I was never bored all day!” “This was probably the largest course I’ve attended and my initial reaction was that I wasn’t going to get much out of it. On the contrary – this is probably one of the best if not the best course I’ve attended.” “Very good course – I liked the case examples – made it very interesting and interactive – one of the better CPE course that I’ve taken.” “My first NJSCPA sponsored course. I’ll never go anywhere else again; if I can help it. I was prepared for another boring, useless seminar and was pleasantly surprised. I definitely gained knowledge that I will be able to use. Great Job!” “Best class so far this year.” “This course teaches the importance of non-accounting information for analyzing financial data. I wish they taught this course to first year auditors when I started in audits.” “Presentation was informative and helpful and even a lot of fun.” “Very interesting material – I learned a lot!”


Loscalzo’s Answer to Frequently Asked Questions FAQ in Accounting and Auditing Highly rated Q&A format used

Why Attend This Course? This program hits the mark by reviewing real issues and questions asked prior to the session by accountants who are past attendees of our seminars. The manual includes approximately 70 “live” issues dealing with accounting and disclosures, compilations, reviews, and audits. Get quick and practical solutions to issues that may confront you. Specific emphasis on issues associated with variable interest entities. Designed for Practitioners in public practice who need to keep on top of changing needs and current issues in the profession Objective Participants will be able to: Recognize issues impacting their clients Resolve emerging practice problems Address problems before they arise Major Subjects Accounting and disclosure issues – cash and cash equivalents, capitalized costs, investments in closely-held entities, related and affiliated entities, variable interest entities, nonmonetary transactions, debt and equity transactions, and revenue recognition… Compilation and review issues – documentation, interim reporting, special presentations and reports, special purpose framework… Auditing and reporting issues – inadequate accounting records, investments in closely-helds, inventory, receivables and payables, sampling issues, and SAS 115 Presentation Method Field of Study Group-live; lecture and group discussion of questions Accounting Auditing Level of Knowledge Availability Date Intermediate 5/15/2012 Prerequisites Author(s) Basic audit and accounting course or experience Margaret Loscalzo, CPA Advance Preparation Recommended CPE Credit None Accounting – 5 hours Auditing – 3 hours Course taught by Greg Clark, Christa Dunn, John Fleming, Kenneth Heaslip, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Bob Schapperle Section on auditing and reporting qualifies for the 24 hour Yellow Book requirement. Section on accounting and disclosure qualifies for the 24 hour requirement if auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. Participant Comments “Very good presentation - this subject is difficult and I thought it was presented in an interesting manner.” “We drive 2 hours to attend this seminar because you people are the best. Keep up your excellent work.” “Instructor was exceptional. Material was interesting and relevant to my needs. Manual is great reference material.” “I really liked the question/answer format of the text material. So many times you can read about the updates and the SASs, however it is when you need to apply them that questions arise. The format of the questions as situations and then the ‘what do I do now?’ was great.” “The format of the written material was particularly helpful.” “Evaluations were very good! Great class.” “Excellent material in this program.” “Very well presented with real life examples.” “This was a great course. Too many courses are just theoretical. This was hands on actual cases.” “Questions and answers resulted in a more interesting A&A course.” “Best money spent on an A&A course in years.”


Loscalzo’s Deceptive Revenue Recognition and DAT Other Accounting Techniques – Recognizing the Warning Signs Emphasizes Revenue Recognition Issues

Why Attend This Course? Don’t join the growing list of accounting professionals in trouble. We will discuss: The accounting “stories” behind over 40 famous financial statement frauds such as Fannie Mae, McAfee,

Parmalat, Tyco, Waste Management, and WorldCom Deceptive accounting practices The warning signs of problems in areas such as revenue recognition, related parties, significant estimates,

capital items vs. expenses, choices among accounting methods, and improper activity to evade taxes

Designed for Practitioners in industry and in public practice

Objective Participants will be able to: Identify creative accounting practices used to deceive financial statement users Identify those risk characteristics normally associated with fraudulent financial reporting Emphasize improper revenue recognition practices and techniques to identify them Major Subjects Back to the basics – GAAP revisited… New revenue recognition guidance as a result of a joint FASB/IASB project… Live cases dealing with improper revenue recognition and other misleading practices... When is revenue “real”… Related parties and other off-balance sheet schemes… Reserves, accruals, writedowns and asset impairments… Significant estimates… Capitalized assets and inventory… Fair value abuses Presentation Method Field of Study Group-live; lecture and case discussions Accounting


Prerequisites Author(s) None Deborah Rose, CPA and John Fleming, CPA

Advance Preparation Recommended CPE Credit Basic familiarity with accounting standards 8 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Mark Mishler, Jim Newhard, Deborah Rose, and Bob Schapperle


Participant Comments “Very good course - enjoyed having the live cases where things had gone wrong.” “Excellent course. Very applicable to real world.” “This course exceeds expectations!” “It is a great course. It is very applicable to more than just revenue recognition.” “Covers a very important accounting topic given recent events that have occurred and received publicly.” “This was one of the best CPE events I have ever taken. The cases that we discussed were very interesting. Sometimes it is hard for a CPA in industry to find CPE classes that are beneficial. I would highly recommend this course.” “I would recommend this course to any auditor or finance professional, as the topic is most relevant in today’s economic environment.” “This course was excellent and should be required by every auditor.” “This is an outstanding course!” “This course should be required at least every other CPE cycle for those who do A&A.” “Very good flow of background then walking through real life examples.” “Cases and speaker stories provided excellent additional information.” “The course content was very interesting and instructor made the contents very understandable.” “Great examples of various industries, instructor did a great job in applying theory to practice.” “Book is of higher than regular quality.” “I liked the Case Studies, they added much color to the material.” “This course is very informative and does a great job outlining deceptive revenue recognition and has interesting case studies that effectively illustrate the topics.” “This is probably the best CPE I’ve attended.” “I am a tax person and frankly expected a boring FASB review. But all of this stuff was riveting!! Great course.”


Loscalzo’s Disclosure - The Key To Financial Statements DKFS

Why Attend This Course? Keep your professional reputation stellar by making sure your financial statements are “up-to-speed”. This course will: Explain and illustrate disclosure requirements Clear up misconceptions on practice problems such as fair value Correct disclosure deficiencies most frequently cited by peer reviewers

Designed for Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public financial statements. This program is a must for those practitioners who will undergo peer review.

Objective Participants will be able to prepare disclosures necessary for privately-held companies

Major Subjects This program does not discuss SEC requirements. Special emphasis is given to common disclosure deficiencies noted in practice… Recent changes in subsequent events, going concern, loss contingencies, financial instruments, and fair value... Risks and uncertainties and accounting policies... Liabilities – how debt violations impact classification... Uncertain tax positions... Accounting changes, error corrections, and other categories in the income statement… Cash flows statement Presentation Method Field of Study Group-live; lecture and group discussion of cases Accounting based on “live” client situations


Prerequisites Author(s) Participants should be familiar with current accounting Margaret Loscalzo, CPA issues and Deborah Rose, CPA


Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. Course taught by Bernie Brown, Greg Clark, Christa Dunn, Jack Ellovich, Richard Ferdinand, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Mark Mishler, Robin Ring, Deborah Rose, and Bob Schapperle Participant Comments “Very good. One of the best classes I have been to in a while. I enjoyed the course.” “Most understanding class I have ever taken for accounting CPE.” “Yes I will tell others about this course.” “Excellent and practical.” “Great class! Very helpful!” “Materials are outstanding.” “This CPE vendor is my favorite because the book and the instructors always present the material in a way that is practical to the CPA of a small firm.” “Quality of the Materials – One of Best I’ve ever had.” “Very good class to update for disclosure. Very detailed, only focused on current change. Very meaningful class.” “Probably the best class I’ve had in a long time – thanks.” “Excellent in all respects.” “Good course with a quality instructor.” “Very useful class – It held my interest the entire day. I took it approximately 5-6 years ago and find much that applies to my day to day practice.” “Best disclosure course I’ve taken, outstanding. Material is superior.” “Extremely valuable information and presented expertly.” “Loscalzo courses for A&A are the best. No one does it better.”


Loscalzo’s GAAP Refresher GAAP Good Industry Course Why Attend This Course? Get your arms around those complex GAAP rules most likely to result in financial statement restatements. You will be provided with clear, concise, realistic examples of financial instruments, fair value, deferred taxes and uncertain tax positions, leases, derivatives, impairments and other “troublesome issues.”

Designed for CPAs preparing financial statements. This course provides answers to some of the more complicated accounting issues facing accountants

Objective Participants will be able to: Explain the accounting and disclosure requirements of specific challenging GAAP requirements Apply troublesome pronouncements

Major Subjects FASB Codification… Troublesome areas in accounting for income taxes, including uncertain tax positions… Financial instruments and fair value… Economic downturn issues… Frequent “errors” in the statement of cash flows… Problems in accounting for leases and upcoming changes to lease accounting Presentation Method Field of Study Group-live; lecture and group discussion of cases Accounting and discussion questions


Prerequisites Author(s) None Deborah Rose, CPA

Advance Preparation Recommended CPE Credit Participants should be familiar with the accounting 8 hours guidance dealing with the topics covered Course taught by Bernie Brown, Greg Clark, Christa Dunn, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Mark Mishler, Robin Ring, Bob Shapperle, and Deborah Rose Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. Participant Comments “These Loscalzo trainings are excellent.” “One of the better classes I've experienced there. However, the course materials themselves will provide good self-study material.” “The topic is good and necessary.” “Very relevant. Will attend in future years.” “This class was so helpful and timely – one of the best I’ve been to.” “A great course! One of my criteria for gauging a course is how I feel when I leave a course. If I leave a course thinking…‘My God, I didn’t know how much there is to know about this stuff, then it’s a great course’. The instructor really knew her stuff.” “Good Course & presentation – relevant topics and informative material.” “The best CPE I attended this year.” “It was an excellent class and very appropriate to my job.” “This was absolutely the most relevant CPE course I have ever attended. The material was right on and I know I will be using it extensively.” “Great use of examples and timely practical tips.” “Excellent as always!” “...had numerous real world examples for small business.” “The book is an excellent resource.” “I learned a lot about real life business experiences. That was refreshing.”


Loscalzo’s Introduction to the International Financial IFRS Reporting Standards Why Attend This Course? Increasingly, practitioners and users are being forced to address the requirements and applications associated with International Financial Reporting Standards (IFRS). This program will review IFRS standards with broad applicability having significant differences from U.S. GAAP. Differences will be illustrated with references to applications or disclosures from IFRS reporting entities. In addition, we will identify and summarize critical provisions from IFRS for SMEs to enable practitioners to understand the scope of the accounting basis. Designed for The program is intended to be an introduction to International Financial Reporting Standards sufficient to enable practitioners with little or no prior knowledge of IFRS standards to begin the process of developing some competency in this area. Objective Participants will be able to: Explain the accounting and disclosure requirements of specific IFRS standards Identify significant differences between U.S. GAAP and IFRS reporting standards Discuss the financial reporting requirements for first-time adopters of IFRS. Major Subjects IASB… IFRIC… IFRS convergence… IASB’s Conceptual Framework… IFRS standards… First time adoption of IFRS… Primary differences between IFRS and U.S. GAAP… IFRS for SMEs… Current joint projects of the FASB and IASB… Useful IFRS related web sites… Review of a complete set of IFRS financial statements Presentation Method Field of Study Group-live; lecture and group discussion Accounting with application illustrations


Prerequisites Author(s) None John Fleming, CPA and Denise Stefano, CPA

Advance Preparation Recommended CPE Credit None 8 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Rebecca Lee, Mark Mishler, Jim Newhard, and Bob Shapperle Participant Comments “Great update on convergence status and many IFRS/GAAP differences.” “This is the first course covering IFRS topics I've taken that has given me a handle on what to expect from IFRS. Very well done.” “Materials well written and will be a good reference.” “This is the first course covering IFRS topics I’ve taken that has given me a handle on what to expect from IFRS. Very well done.”


Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements SPF and Other Alternatives to GAAP (Special Purpose Frameworks) Why Attend This Course? Find some “relief” from GAAP standards that are costly to implement and incomprehensible to financial statement users. This program will: Explore alternatives that permit professional presentations that don’t cut corners but are cost efficient Illustrate exactly what is necessary when preparing tax, cash, or modified cash basis financial statements Provide hard to find report, presentations and disclosure examples Address the SSARS 19 provisions as they relate to special purpose frameworks

Designed for Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, financial statements where special purpose frameworks or special purpose presentations can be beneficial

Objective Participants will be able to: Address the issues unique to special purpose frameworks presentations Determine when special purpose frameworks or special presentations are appropriate Distinguish between circumstances when special purpose frameworks or GAAP departures are the most

appropriate Prepare financial statements on an other comprehensive basis of accounting Prepare special purpose presentations

Major Subjects When is a presentation a special purpose frameworks or a GAAP departure... Differences between cash and modified cash... Common book vs. tax differences... Tax basis financials – what to do with non-taxable and non-deductible items... GAAP disclosures – which apply and which can be omitted... Statement of cash flows – how to treat in a special purpose frameworks presentation... Using special purpose presentations... Reporting considerations... Using GAAP departures… Common special purpose frameworks deficiencies Presentation Method Field of Study Group-live; lecture and group discussion of discussion questions. Accounting The course manual contains pro forma financial statements and notes.


Prerequisites Author(s) None Deborah Rose, CPA, William Loscalzo, CPA, and John Fleming, CPA


Course taught by Greg Clark, Jack Ellovich, John Fleming, Kenneth Heaslip, Rebecca Lee, Jim Newhard, Robin Ring, Deborah Rose, and Bob Schapperle Participant Comments “Excellent presentation. Everyone walked away with important information.” “Excellent materials. Like a workbook.” “Excellent practical material that we can use in practice.” “Real life experience/stories were a great addition to the course.” “Excellent presentation on FIN 46(R) – I actually understood it! Great explanation on OCBOA statements and SSARS 8.” “Very good program – learned a lot.” “Materials are exemplary! Very well done. Lots of example verbiage for the various cases.” “Enjoyed the presentation – very useful.” “Good program that covered real world uses of OCBOA.”


Loscalzo’s Tax Practitioner’s Guide to Accounting TPAR and Reporting Issues Why Attend This Course? Meet your A&A CPE requirement with topics that relate to your responsibilities. You will: Learn why a tax return and a tax basis financial statement are not the same Learn what book versus tax differences need to be disclosed in tax basis financial statements Address frequently encountered accounting and performance issues by tax practitioners Address uncertain tax positions Designed for Tax practitioners who are associated with compiled or reviewed GAAP and tax basis financial statements Objective Participants will be able to: Identify differences between GAAP requirements and the tax return Recognize problems in compilations and reviews, and apply the provisions of SSARS 19 Apply the provisions of recent accounting standards updates Major Subjects Highlights new and troublesome issues for those tax practitioners who are responsible for issuing compilation and review reports… Examination of book versus tax differences… Changes needed to the body of the statements when tax basis financials are presented… Tax basis financials – what disclosures are really necessary… Revised deferred tax requirements, including uncertain tax positions… Problems and issues in compilations and reviews, including an update of SSARS 19... Overview of recent relevant accounting standards updates… Standards for tax and consulting services Presentation Method Field of Study Group-live; lecture and group discussion of questions Accounting Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None William Loscalzo, CPA and John Fleming, CPA Advance Preparation Recommended CPE Credit None Accounting – 5 hours Auditing – 3 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Rebecca Lee, Jim Newhard, Deborah Rose, and Bob Shapperle Participant Comments “The speaker gave concrete examples of implementing these standards for "small businesses & clients" which is very pertinent to our practice.” “I went home with more useful information than usual. Materials were very good also, but we didn't cover too much of the written material. Lots of good letters and standard reports.” “Good practical examples.” “Well suited A&A course for the tax practitioner.” “A&A topics like this are great for tax practitioners and private company CPAs who need info on OCBOA financials, particularly cash or accrual tax basis financials.” “Class was outstanding!” “The seminar was an excellent update of current events in the subject area. The manual will make a good reference tool.” “Very informative for tax people-good presentation skills for a boring subject.” “Material is relevant and well presented.” “I am leaving the class with a much better understanding of the scope of responsibility and wider knowledge of what to look for.” “The subject matter was complex but I still feel that I got my money’s worth. I will definitely be using the materials in my practice.” “Peer review comments a plus – thanks.”


Loscalzo’s Fair Value Accounting in the 21st Century Why Attend This Course? Fair value accounting has become a frequent topic of discussion for accountants, users, and government regulators during the past few years. ASC 820, Fair Value Measurements and Disclosures, continues to cause confusion among practitioners not only when applying recognition and measurement guidance but with the extensive required disclosures. This program will address fair value issues frequently encountered by practitioners. Designed for Those in public practice and industry Objective Participants will be able to apply the recently issued fair value guidance to financial reporting issues Major Subjects Summarize the main provisions of ASC 820…Identify by type, financial assets and financial liabilities and non-financial assets and non-financial liabilities…Demonstrate with examples, fair value input levels for each type of financial asset and financial liability and non-financial asset and non-financial liability…Asset and goodwill impairment issues…Apply ASC 820 to ASC 805 issues, business combinations, and specifically non-financial assets and non-financial liabilities…Illustrate fair value disclosure examples… Fair value option issues Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None John Fleming, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Mark Mishler, and Deborah Rose


Loscalzo’s Frequently Asked Questions in GAAP Financial Statements Why Attend This Course? This program uses a question and answer format to discuss real practice questions that have been raised by Loscalzo clients. Note: This program is a four hour version of “The Loscalzo Answer to Frequently Asked Questions in Accounting and Auditing.”

Designed for Those in public practice and industry Objective Participants will be able to: Recognize issues Resolve emerging practice problems Address problems before they arise Major Subjects How to treat refinancing costs… Cash and cash equivalents – what qualifies… Purchase/supply commitments… Capitalized costs… Leases… Debt issues… Revenue recognition… Statement of cash flows… Shipping and handling costs… How to record initial capital contributions made in property… Accounting when there is an exchange of non-monetary assets… Problems in applying the equity method… Consolidation issues… Investments in closely held entities… Equity transactions… Computer software capitalized costs… Professional employer organization… and Impact of new FASB pronouncements Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Loscalzo, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, Christa Dunn, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Mark Mishler, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Pitfalls and Problems in Financial Statement Disclosures Why Attend This Course? This four hour program highlights the most common disclosure errors being made in financial statements. Special emphasis will be on problem disclosures identified in peer review. Note: This program is a four hour version of “Loscalzo’s Disclosure – The Key to Financial Statements.” Designed for Accountants in public practice and industry Objective Participants will be able to prepare disclosures for privately-held companies Major Subjects General disclosures including accounting policies, contingencies, subsequent events, fair value, risks and uncertainties, and related parties… Balance sheet items including cash and investments… Liabilities issues, including classification problems… Income statement areas - accounting changes and error corrections, extraordinary items, discontinued operations, and income taxes, including uncertain tax positions… and Cash flow statement Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Loscalzo, CPA and Deborah Rose, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Using Tax Basis and Other Special Purpose Frameworks Presentations Effectively Why Attend This Course? With the complexities and cost of GAAP financials, many practitioners have encouraged clients to use tax basis and other special purpose frameworks financial statements. This program will address special purpose frameworks reporting and disclosure requirements, including the AICPA interpretation and practice aid on special purpose frameworks. Note: This program is a four hour version of “Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP.” Designed for Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, non-GAAP financial statements Objective Address the issues associated with special purpose frameworks presentation Prepare financial statements on an other comprehensive basis of accounting Major Subjects What are the most common GAAP versus tax differences? Which footnotes can be eliminated in special purpose frameworks presentations? What does "communicate the substance of GAAP disclosures" mean under the AICPA interpretation? Are changes needed to the body of statements when tax basis financials are presented? Should tax basis statements include non-taxable and non-deductible items? Can any financial statements be eliminated in a special purpose frameworks presentation? Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None William Loscalzo, CPA, Deborah Rose, CPA, and John Fleming, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Jim Newhard, Deborah Rose, and Bob Schapperle


SSEECCTTIIOONN 44:: NNOOTT--FFOORR--PPRROOFFIITT AACCCCOOUUNNTTIINNGG && AAUUDDIITTIINNGG PPRROOGGRRAAMMSS

Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits (FMI) – 8 hours ..................................... 4-2

NEW! Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues (GASB) – 8 hours ...... 4-4

Loscalzo’s Not-for-Profit Auditing Made Easy (NFPME) – 8 hours ................................................................... 4-5

Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues (NFPARA) – 8 hours ......... 4-7

Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency (HGCA) – 8 hours ............. 4-8

Loscalzo’s Allocating Costs in Not-for-Profit Organizations – 4 hours ............................................................ 4-10

Loscalzo’s Case Studies in Compliance Auditing – 4 hours ............................................................................ 4-11

Loscalzo’s Case Studies in Complex Not-for-Profit Accounting and Disclosure Issues – 4 hours .................. 4-12

Loscalzo’s Identifying and Addressing the Risk of Fraud in Not-for-Profit Organizations – 4 hours ................ 4-13

Loscalzo’s Testing Internal Control Over Compliance and Compliance for Major Programs and Evaluating and Reporting the Results Obtained – 4 hours ........................................................................... 4-14


Loscalzo’s Analytical Procedures for Not-for-Profit Organizations – 2 hours .................................................... 8-3

Loscalzo’s Effective Use of OMB Circulars – 2 hours ....................................................................................... 8-5

Loscalzo’s Selecting Major Programs for OMB Circular A-133 Audits – 2 hours .............................................. 8-9

Loscalzo’s Understanding the Requirements of Government Auditing Standards (Yellow Book) – 2 hours ... 8-12


Loscalzo’s Frequently Missed Issues for FMI OMB Circular A-133 Audits Why Attend This Course? Peer reviewers have been notified by the AICPA that they should consider audits that do not meet all the requirements listed on the A-133 Peer Review Checklist (Part A) as NOT MEETING professional standards. Given all the changes in the 2009 GAS and A-133 Audit Guide and the scrutiny by peer reviewers and federal and pass-through agencies, this is an important time to ensure that you are current on all the new developments and are performing all the steps necessary to comply with professional standards. This course addresses the changes to the Audit Guide, paying particular attention to those that relate to sampling and the SEFA audit program and disclosure checklist. It will also discuss the recent OMB alerts, SAS 115 on internal control reporting, SAS 117 on Compliance Auditing and SAS 119 on Supplementary Information. The changes to the Yellow Book issued in 2011 will also be discussed.

This course will: Help you avoid recurring common failures in audits under Government Auditing Standards and OMB

Circular A-133 Provide you with the latest changes in professional literature, as well as changes to the Compliance

Supplement. Designed for Audit practitioners working on not-for-profit and/or public sector clients who need audits performed in

accordance with the Yellow Book and OMB Circular A-133 Accountants in not-for-profit or government organizations that need a compliance audit Objective Participants will be able to: Identify areas for improvements in their Government Auditing Standards (GAS) and OMB Circular A-133

audits Implement changes to audits as a result of changes to professional standards Major Subjects Using the very popular “Loscalzo Frequently Asked Question Format”, the major subjects covered will include: documentation, multipurpose testing, design of compliance and internal control tests, sampling applications, reporting findings, consideration of abuse, documentation and testing of all five elements of internal control (COSO), lack of segregation of duties, schedule of federal awards, and identifying major programs Presentation Method Field of Study Group-live; frequently asked question format Auditing encouraging discussion


Prerequisites Author(s) Assumed knowledge of not-for-profit and governmental Margaret Thomas, CPA, MHA accounting and reporting, Yellow Book and OMB Circular A-133


Course taught by Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy



It is recommended that this course not be scheduled in conjunction with “Loscalzo’s Step by Step Guide to Compliance Auditing – A Gateway to Efficiency.”

Participant Comments “Very well presented - left course with greater understanding of material than previously other attended courses.” “Material organized as Q&A very good!” “As soon as I left the class, I started making lists and writing memos for the job that I was taking this course for.” “This course was great. The content was presented in a very effective manner as well as the instructor kept the participants involved. The program had the adequate amount of information for the time and prepared the staff/managers for issues/items to keep in mind for the upcoming summer jobs.” “The questions and answer format was a refreshing change in presentation and not only kept the program interesting but was thought provoking and sparked discussions.” “Q&A format of material was unique and good way to present material.” “The format of Q&A in the materials made the seminar enjoyable rather than a lecture format. This also encouraged interaction from attendees.” “Great topic to address recurring issues from practitioners – very insightful for old and new professionals who practice in the field.” “This provides a very well-organized, logical understanding of these requirements, and was very well presented.” “I liked the format of questions and answers. It kept my interest and zeroed in on the problems and issues.” “Q&A format was very useful and kept it clear and easy to understand.” “I really like the question and answer format. It provides real audit situations which all of us have experienced in one way or another or may experience in the future. This definitely helps grasp the topics discussed and keep our attention.” “I love this course!!!, Everyone should take this course!!!, I will tell the World!!!” “Very difficult subject to present. Group leader did a good job with the topic materials.” “This provides a very well-organized, logical understanding of these requirements and was very well presented.” “Good course.”


Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues GASB

Why Attend This Course? Governmental entities are subject to very complex accounting and disclosure requirements. Over the last 3 years, the GASB has issued numerous pronouncements, nine of which have effective dates through June 30, 2012. In this environment, governmental executives and their auditors must focus on the transparency in financial reporting. In addition, many governments are experiencing fiscal crises, and there has been an increase in auditors issuing going concern opinions. This program provides a 2012 update of the issues at the forefront of industry to assist the auditor in assessing risk. It also includes consideration of the major accounting and disclosure issues specific to governments.

Designed for Practitioners working with governments in public practice Accountants working in governments who need to keep on top of current accounting and disclosure

requirements

Objective Participants will be able to: Apply solutions to the issues faced by governments in today’s environment which will help them assess risk Recognize and deal with major accounting and disclosure issues impacting their clients or entities Prepare complete and accurate financial disclosures

Major Subjects Governmental industry update 2012… Major accounting and disclosure issues specific to governmental entities– Reporting entity, Management’s Discussion & Analysis, leases, cash and investments (valuation and disclosure), compensated absences, landfill closure and postclosure care costs, nonexchange transactions, risk financing and insurance related activities, capital assets, debt and other obligations, pensions, postemployment benefits, educational and other governmental entities

Presentation Method Field of Study Group-live; lecture and group discussion of questions Accounting


Prerequisites Author(s) Basic familiarity with governmental accounting Margaret Thomas, CPA, MHA

Advance Preparation Recommended CPE Credit None 8 hours Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

Course taught by Margaret Thomas

NEW


Loscalzo’s Not-for-Profit Auditing Made Easy NFPME Practice Aids

Why Attend This Course? Audits of not-for-profit organizations can be challenging. Not-for-profits have their own specific accounting principles, giving rise to different audit issues. Many small to midsize not-for-profits lack sophisticated accounting personnel, causing challenges in the auditor’s understanding of internal controls and assessment of risk. In addition, the integration of a financial statement audit with the requirements of Government Auditing Standards and OMB Circular A-133 adds another layer of complexity. This course also addresses SAS 115 on Communication of Internal Control Deficiencies, SAS 117 on Compliance Auditing and SAS 119 on Supplementary Information. In addition, this course illustrates how to document the risk assessment procedures, including the understanding of internal control and the linkage between the risk assessment, and the audit programs for a very small volunteer fire department with less than $300,000 in revenue. This course includes updates on the current issues for 2011-2012 including a discussion of the professional literature recently issued. The 2011 Yellow Book will also be discussed. Designed for Practitioners who audit not-for-profit organizations, CPAs or others new to working in not-for-profit organizations or interested in how audits are conducted Objective Participants will be able to: Plan and perform audits for small to mid size not-for-profits as efficiently as possible Consider the design of internal controls and determine whether the internal controls have been

implemented (including areas specifically identified by the not-for-profit audit guide) Perform risk assessments under the new risk assessment auditing standards Integrate requirements of Government Auditing Standards and A-133 in the planning and conduct of the

financial statement audit to gain efficiencies Audit areas that specifically apply to not-for-profits Consider the likely ramifications of SAS 115 on not-for-profits and draft reports with comments for not-for-

profit organizations Use tools and templates contained in the manual to enable their clients to do a better job of preparing

internal control documentation, as well as financial statements and disclosures Prepare the level of documentation needed to support the risk assessment for a very small client

(<$300,000 in revenue)

Major Subjects Understanding and documenting the system of internal control over financial reporting… Defining the risk of material misstatement… How to create audit plans that are responsive to identified significant risks… Coordinating fraud risk assessment and risk assessment procedures… Holding a risk assessment discussion with the audit team… Performing specific risk assessment procedures… Identifying significant risks… Substantive tests for not-for-profit specific account balances and classes of transactions … Use of electronic confirmations… SAS 115 requirements... Tools and templates that will enable clients to do a better job of preparing internal control documentation, as well as financial statements and disclosures… Discussion of new accounting principles

This course will not cover how to audit major programs although we will discuss the integration of A-133 procedures with financial reporting procedures for nonprofits.

Presentation Method Field of Study Group-live; lecture and group discussion Auditing


Prerequisites Author(s) Basic audit course or experience Margaret Thomas, CPA, MHA



Course taught by Allen Fetterman, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

It is recommended that this course not be scheduled back to back with “Loscalzo’s Implementation Guide to the Risk Assessment Standards,” “Loscalzo’s Hands on Guide to Understanding and Testing Internal Control,” or “Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues.” Participant Comments “The course was great and full of very useful tips and information.” “The program was very useful for me as a staff member. I have worked on about 4 or 5 audits of nonprofit organizations and the information covered helped clarify questions.” “Good examples. Clearly presented. Content very helpful. Best, straight forward audit class I’ve attended.” “Finally, an audit course with practical examples.” “Love the practice tools.” “Excellent.” “Great speaker – Easy to listen to, good examples, etc. Materials can be used in practice as excellent reference.” “It was a great course. Allen had a good knowledge of the subject. He excellently pointed out the new risk assessments, applicability to non-profit accounting. Excellent material reference as well.”


Loscalzo’s Not-for-Profit Industry Update and NFPARA Major Accounting and Disclosure Issues

Why Attend This Course? Not-for-profits are under more intense scrutiny than ever before from regulators to donors. In this environment, not-for-profit executives and their auditors must focus on the transparency in financial reporting. This program provides a 2012 update of the issues at the forefront of industry to assist the auditor in assessing risk. It also includes consideration of the major accounting and disclosure issues specific to not-for-profit organizations.

Designed for Practitioners working with not-for-profit organizations in public practice Not-for-profit industry accountants who need to keep on top of current accounting and disclosure

requirements

Objective Participants will be able to: Apply the issues faced by not-for-profits in today’s environment which will help them assess risk Recognize and deal with major accounting and disclosure issues impacting their clients or organizations Prepare complete and accurate financial disclosures Enhance transparency in financial reporting

Major Subjects Not-for-profit industry update 2012… Major accounting and disclosure issues specific to not-for-profit organizations– cash and cash equivalents, including concentration of bank deposits, contributions received and made, contributed services, gifts in kind, contributed utilities and use of long-lived assets, split interest agreements, agency transactions, investments, special considerations for endowments, guarantees, unrelated business income taxes, fund raising costs, consolidations, functional expenses, functional classifications… Fair value... Mergers and acquisitions

Presentation Method Field of Study Group-live; lecture and group discussion of questions Accounting


Prerequisites Author(s) Basic familiarity with not-for-profit accounting and auditing Margaret Thomas, CPA, MHA


Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. It is recommended that this course not be scheduled back to back with “Loscalzo’s Not-for-Profit Auditing Made Easy.”

Course taught by Allen Fetterman, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Marci Thomas, and James Woy Participant Comments “Excellent CPE with relevant materials and good stories.” “Great explanation of statistics related for materials and very informative.” “Well-organized presentation with good reference materials thru web sites, AICPA, etc.” “I just hit the jackpot. All 5 of my courses were terrific – I took more notes than I ever have and I will definitely utilize my resource materials.” “James said it the best – this is one of the best strictly accounting courses that I have seen. I learned so much today and could not have asked for a better course to help me out as a controller for a non-profit. Please offer this course again next year!” “Very good written materials –lots of good examples.” “Fabulous examples in the book – well thought through- Thanks for a great workshop!!.” “Great seminar – Good information presented that I haven’t seen presented in detail before. Information I needed for financial structure in my organization. This type of course has been much needed to provide better guidance and interpretation of accounting pronouncements and guidance.” “The material handed out is well prepared and can be used as a resource on a continuing basis.” “This course was a surprise. It was more meaningful than I anticipated.” “Excellent as usual for Loscalzo seminars.” “This course surpassed expectations.” “Great course – Thank You!”


Loscalzo’s Step by Step Guide to Compliance Auditing - HGCA A Gateway to Efficiency Includes Practice Aids – Start to finish guidance on performing OMB Circular A-133 audits. Includes guidance on how to efficiently integrate a compliance audit into the financial statement audit using the risk assessment standards. Also includes assessing internal control findings using the guidance in SAS 115 and discusses the new sampling guidance and how to audit the SEFA. Why Attend This Course? Peer reviewers have been notified by the AICPA that they should consider audits that do not meet all the requirements listed on the A-133 Peer Review Checklist (Part A) as NOT MEETING professional standards. Given all the changes in the 2009 GAS and A-133 Audit Guide and new requirements related to SASs 117 and 119, this is an important time to ensure that you are current on all the new developments and are performing all the steps necessary to comply with professional standards. Following a workshop step by step format, this course addresses the changes to the GAS with the issuance of the 2011 Yellow Book and A-133 Audit Guide related to sampling and evaluating deviations noted in testing. It also discusses the AICPA’s new practice aids on internal control and the Schedule of Federal Awards (SEFAs), SAS 117 on Compliance Auditing and SAS 119 Supplementary Information. Equally important is performing the audits efficiently by integrating the audit of internal control over financial reporting and internal control over compliance, by judiciously using practice aids and by performing and documenting the “right” level of work.

Designed for Audit practitioners working on not-for-profit and/or public sector clients who need audits performed in accordance with the Yellow Book and OMB Circular A-133. Also accountants in not-for-profit or government organizations that need a compliance audit. Although this course does not specifically address HUD issues, there are many similarities between HUD engagements and ones conducted under OMB Circular A-133.

Objective Participants will be able to: Plan, calculate sample size, test transactions, conclude and report in accordance with Yellow Book

requirements and the OMB Circular A-133 Integrate the financial statement audit with the compliance audit for efficiency Properly document work performed during the audit Identify the appropriate findings to report Identify the appropriate compliance opinion to use Write appropriately worded findings for the Schedule of Findings and Questioned Costs and the Data

Collection Form Draft applicable reports using the appropriate report forms

Major Subjects Participants will be engaged in a number of hands on step by step exercises designed to lead them through the planning and executing of a financial statement/ A-133 audit. Emphasis will be given to “frequently missed” areas as identified by the PCIE report. At the conclusion of this session, participants should feel more comfortable with their level of documentation skills and more confident that their work will stand up to peer review or review by governmental agencies


Presentation Method Field of Study Group-live; combination of lecture and hands-on Auditing application of principles


Prerequisites Author(s) Assumed knowledge of not-for-profit and governmental Margaret Thomas, CPA, MHA accounting and reporting, Yellow Book and OMB Circular A-133


Course taught by Allen Fetterman, Joe Scudese, Marci Thomas, and James Woy


It is recommended that this course not be scheduled in conjunction with “Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits.” Participant Comments “I liked the comprehensive approach to A-133.” “Clear, logical, easy to understand presentation of the subject matter.” “Thank you for the detailed examples.” “Being my first CPE Conference, I felt as though it offered me a great opportunity to get some insight into compliance auditing and effective techniques.” “Very good class, thank you!” “Always enjoy your seminars - great speakers and very informative!” “The most practical single audit course I have ever attended.” “Very good and informative course! Very timely course.” “Good focus on planning and compliance.” “It was refreshing to have a book that had information and was not just pictures of PowerPoint presentations.” “I was very impressed by this seminar. This was one of the best CPE courses I have attended.” “Loscalzo, as usual, did a great job with the course material.” “Case studies very useful.” “This is one of the most informative and engaging CPE classes I have been to. It has provided very useful information.” “I thoroughly enjoyed the hands on portion of this workshop. I learn and understand more from doing than listening to lecture.” “This is the best A-133 course I’ve been to.” “This was the clearest, least confusing seminar on Compliance Audits.” “I was looking for means on how to improve our audits. Instructor gave them to me in a very understandable manner.”


Loscalzo’s Allocating Costs in Not-for-Profit Organizations

Why Attend This Course? Indirect costs represent the expenses of doing business that are not readily identified with a particular grant, contract, project function or activity, but are necessary for the general operation of the organization. Although not-for-profit organizations focus on program related costs, the cold hard fact is that there are administrative costs involved in running an organization and grant programs cover only a limited amount of that cost. Therefore, it is important for accountants to understand how to maximize the amount of administrative costs that are allocable to grant programs. This course will help participants navigate the concepts involved in preparing and auditing indirect cost proposals for not-for-profit organizations. Designed for Auditors in public practice and practitioners in industry or public accounting interested in allocating costs to award programs in not-for-profit organizations Objective Participants will be able to: Identify the activities carried on by the not-for-profit and their costs Classify activities and costs as direct or indirect Eliminate unallowable or distorting costs and compute rates for allocation Audit indirect cost rates under OMB Circular A-133 Major Subjects Identification of the activities carried on by the not-for-profit and their costs… Classification of activities and costs as direct or indirect… Elimination of unallowable or distorting costs… Computation and approval of indirect cost rates, provisional rates, final rates, predetermined rates, fixed rates with and without carryforward… Modified total direct cost as a base… Salaries and wages as a base… Auditing indirect cost rates under OMB Circular A-133 Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Thomas, CPA, MHA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Allen Fetterman, Laurie Horvath, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Case Studies in Compliance Auditing

Why Attend This Course? The AICPA has responded to the criticism leveled at it and other organizations (GAO and OMB) in the PCIE’s Report on the Statistical Sample of Compliance Audits. As a result, additional guidance is being provided on many of the deficiencies found during the study. This four hour module will take a look at the changes that SASs 117 and 119 as well as the audit guide have made to compliance auditing, as well as other puzzling aspects of compliance auditing using a case study format. Designed for Auditors of clients that expend federal awards and CPAs working in those organizations Objective Participants will be able to address compliance issues affecting auditors today and learn how the AICPA has addressed comments by the PCIE report. Major Subjects New SAS and revised audit guide on compliance auditing… Sample size… Writing compliance audit programs when there is no published compliance supplement… Program clusters… Documentation for very small A-133 audits… Internal control… Evaluating evidence obtained and reporting findings Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Thomas, CPA, MHA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Case Studies in Complex Not-for-Profit Accounting and Disclosure Issues

Why Attend This Course? This course will delve into complex issues that not-for-profits and their auditors face today. The literature will be discussed followed by a case study that will provide participants with the opportunity to explore the ways it could be handled using the literature. This module will concentrate on organizations of moderate size and larger. Designed for Auditors of not-for-profit organizations and CPAs working in the not-for-profit industry Objective Participants will be able to efficiently apply auditing literature to a variety of complex issues Major Subjects Endowments… Mergers and acquisitions… Split interest agreements… Fair value… Consolidation… Agency transactions (foundations) Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Thomas, CPA, MHA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Allen Fetterman, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Identifying and Addressing the Risk of Fraud in Not-for-Profit Organizations

Why Attend This Course? This four hour module will help auditors and those working in not-for-profit organizations to identify and address the most common fraud and abuse schemes that are perpetrated against them. Using a case study format, participants will learn how these fraud schemes can be prevented and detected. The issue of fraud is especially important to understand in an economy where incentive and pressure to commit a fraudulent act is intensified.

Designed for Auditors of not-for-profit organizations and CPAs working in the not-for-profit industry Objective Participants will be able to identify situations where there is a risk of fraud and create ways to prevent and detect them Major Subjects Identification of fraud risk… Major fraud schemes… Internal controls that are responsive to those risks Presentation Method Field of Study Group-live Auditing Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Margaret Thomas, CPA, MHA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Allen Fetterman, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Testing Internal Control Over Compliance and Compliance for Major Programs and Evaluating and Reporting the Results Obtained

Why Attend This Course? In 2007, a report was issued on a statistical sample of audits selected for quality control review under the auspices of the President’s Council on Integrity and Efficiency (PCIE). This study quantified what was generally already known by federal agencies – many audits do not meet the required standards. In fact, over half of the audits reviewed had deficiencies. Some commonly noted deficiencies related to testing internal control over compliance, determining sample size for compliance testing and evaluating the results obtained. This course will walk through how to perform each of these tests, how to evaluate the evidence obtained, report the findings and issue the appropriate opinion.

Over the past 24 months the AICPA and OMB addressed many of these changes. The October 2009 version of the GAS and A-133 Audit Guide contains significant changes related to Sampling for internal control and compliance testing. It also contains additional considerations for evaluating deviations noted during testing. There will also be a discussion of how to identify compliance requirements when the program does not have a CFDA number.

Designed for Auditors in public practice and practitioners in industry or public accounting interested in understanding internal controls over compliance and tests of compliance that will be performed by the independent auditor on major programs

Objective Participants will be able to: Differentiate between internal control over financial reporting and internal control over compliance Identify the internal controls over compliance to understand and to test Evaluate the tests of internal controls performed and draw conclusions about the sample size needed for compliance Evaluate the tests of compliance and determine the findings to be reported under OMB Circular A-133 and the

appropriate opinion on compliance

Major Subjects Internal control over financial reporting- control environment, risk assessment, information and communication, monitoring and control activities… Compliance supplement – part 6, internal controls over compliance at the 5 levels… Understanding controls over compliance… Looking for overlap with controls over financial reporting where appropriate… Identifying key controls… Testing controls… Evaluating the results of tests of internal controls… Determining a compliance sample size… Testing compliance… Evaluating the results of tests performed… Schedule of findings and questioned costs… Compliance opinions… Report forms for internal control over compliance and compliance for major programs

Presentation Method Field of Study Group-live Auditing


Prerequisites Author(s) None Margaret Thomas, CPA, MHA


Course taught by Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy



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Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) (DCPP) – 8 hours ...... 5-2

Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans (AEBP) – 8 hours ... 5-3

Loscalzo’s Accounting and Auditing Considerations for 403(b) Plans – 4 hours ............................................ 5-4 Also see the following program:

Loscalzo’s 11-K Employee Benefit Plan Audits – 2 hours .............................................................................. 8-2


Loscalzo’s Audits of Defined Contribution Pension Plans DCPP (Emphasizing 401k Plans) Why Attend This Course? Learn how to avoid the most common problems and deficiencies found by the DOL. Discuss how to: Determine if a plan needs to be audited Identify unique employee benefit plan audit risks Perform the right type and amount of audit testing Draft GAAP and DOL compliant financial statements

Designed for Practitioners in public accounting firms that audit defined contribution pension plans

Objective Participants will be able to: Audit defined contribution plans in accordance with GAAS and DOL requirements including the new 403(b)

audit requirements Identify audit risk areas for defined contribution plans Develop and perform appropriate tests to address these risks Avoid mistakes in drafting financial statements

Major Subjects Defined contribution audit requirements… Typical EBP audit and reporting deficiencies… Unique audit planning characteristics in EBP audits… 403(b) plan audit requirements and considerations… Difficult audit areas in EBP engagements... Limited scope and full scope audit requirements… Recent changes to 401k financial statement reporting and disclosure requirements… Updating and documenting the RAS standards in EBP audits… Filing and reporting requirements for Form 5500… Unique employee benefit plan accounting and financial reporting requirements… Fair value accounting, reporting and disclosure considerations and changes

Presentation Method Field of Study Group-live; lecture, case examples, and discussion questions Accounting Auditing


Prerequisites Author(s) Experience in conducting audits of defined Gregory Clark, CPA contribution plans

Advance Preparation Recommended CPE Credit None Accounting – 4 hrs Auditing – 4 hrs Course taught by Greg Clark, Matt Cohen, Christa Dunn, Laurie Horvath, Rebecca Lee, Joe Manfre, Robin Ring, and James Woy Participant Comments “Class was helpful - especially with 403(b) audit info.” “I came away from the day with much new and practical knowledge.” “This was the best seminar I have ever been to.” “Left seminar with several pages of notes for specific ideas to fold into our audit practice right now.” “I work at a small firm (less than 20 people) and complete around 5 retirement plan audits per year and this course is exactly what we were looking for.” “The course was full of helpful ideas that we will use.” “The material should be a great reference tool also.” “Excellent course. Honest and practical.” “The instructor’s presentation was excellent. One of the best!” “This manual is TERRIFIC and will be very useful in the field.” “I wanted exposure to this subject. The class absolutely succeeded in doing that.” “This class was well worth the time and fee. I’ve attended Loscalzo seminars before and they are always very professional and interactive.” “Phenomenal class. Very informative.” “Excellent seminar. Good planning ideas expressed, changes in regulation, financial disclosures – well done.” “Great job! Very useful info.” “I enjoyed having examples of what really happens in the real world and how to correct the problems.” “Great reference manual – effective presentation. Appreciate updates for new SASs what’s to come.” “Very insightful and eye-opening ideas on what to do and what not to do when auditing pension plans.”


Loscalzo’s Current Practice Issues and Solutions AEBP In Audits of Employee Benefit Plans Includes Practice Aids – Updated for New Developments Why Attend This Course? Employee benefit plan audits continue to present a myriad of practice issues and risks that practitioners must address.

This advanced course will give you the skills to: Identify and address difficult and complex accounting, audit and financial reporting issues Stay current on ongoing regulatory initiatives Effectively document required auditing procedures

Designed for Practitioners in public accounting firms that audit employee benefit plans

Objective Participants will be able to: Address and implement current changes and issues in financial reporting for employee benefit plans

including the new 403(b) audit and reporting requirements Address current auditing issues and challenges facing employee benefit plans Prepare adequate and sufficient audit documentation Avoid mistakes in audit testing and financial reporting

Major Subjects Current legislative and compliance initiatives and issues... Current DOL and EBSA programs, initiatives and regulatory requirements... Form 5500 filing requirements, issues and changes... Current auditing issues and risk areas inherent in plan audits… Fair value accounting measurement, disclosure and reporting issues… 403(b) plan audit requirements considerations… Updating planning and testing of the RAS standards in EBP audits... Common noted practitioner deficiencies and errors... Common peer review issues and requirements... EBP financial statement disclosure issues and problems... Unique accounting requirements for defined benefit plans and health and welfare plans Presentation Method Field of Study Group-live; lecture, case examples, and discussion questions Accounting Auditing

Level of Knowledge Availability Date Intermediate to Advanced 5/15/2012

Prerequisites Author(s) Experience in conducting audits of employee benefit plans Gregory M. Clark, CPA

Advance Preparation Recommended CPE Credit None Accounting – 4 hrs Auditing – 4 hrs

Course taught by Greg Clark, Matt Cohen, Christa Dunn, Laurie Horvath, Rebecca Lee, Joe Manfre, Robin Ring, and James Woy Participant Comments “The course materials will be utilized as a resource during my EBP audits.” “I very much appreciated the practical work-level approach to the subject.” “The workbook will be very beneficial resource on new disclosures.” “Very informative – One of the best courses I have attended at KYCPA.” “EBPs are dry, dry, dry, and this was the most entertaining CPE on this topic I have ever had.” “The material was up to date and relevant to our need for EBP’s.” “The program answered a few “burning” questions on EBPs.” “Great update that was lively, relevant and interesting. Wonderful to get a benefit plan course other than basic level.” “Good use of materials—easy to follow.” “It will be easy to use as a reference tool back in the office.” “Good use of practical examples.” “In prior years, we have had difficulty finding courses on pension plans. This was by far the best one we have attended, with respect to the information presented and our needs.” “Nice blend of practical with principles to produce a rich and rewarding course.” “This was the best CPE course I’ve experienced in 8 years of CPE classes.”


Loscalzo’s Accounting and Auditing Considerations for 403(b) Plans Why Attend This Course? Recently the IRS issued the first comprehensive regulations for 403(b) plans, thereby more closely aligning accounting, auditing, and reporting standards set for these plans with those of 401(k) plans. This program is designed to assist practitioners in understanding the accounting, auditing and reporting for 403(b) plans, which typically are offered to employees of schools, hospitals, religious organizations, charities, and certain other tax-exempt organizations. Designed for Practitioners in public practice who have clients with 403(b) plans and CPAs employed by certain tax-exempt organizations who are required under the new IRS regulations to prepare IRS Form 5500 and attach audited financial statements of such plans Objective Participants will be able to: Address which 403(b) plans are subject to the new IRS regulations Describe the unique audit considerations associated with financial statements of 403(b) plans and various

reporting requirements Major Subjects Limited versus full scope audits… Fair value measurement and valuation testing, including use of specialists… Initial audits of 403(b) plans… Recent accounting standards updates… Reporting requirements Presentation Method Field of Study Group-live Accounting Level of Knowledge Availability Date Basic 6/1/2012 Prerequisites Author(s) None Gregory M. Clark, CPA Advance Preparation Recommended CPE Credit None 4 hours Course taught by Greg Clark, Matt Cohen, Christa Dunn, Laurie Horvath, Rebecca Lee, Joe Manfre, and James Woy


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LOSCALZO ASSOCIATES has almost 30 years of experience designing what staff need to perform their day-to-day accounting and auditing duties – efficiently and effectively. Through a combination of lecture and case studies, participants will be given an opportunity to perform real engagement functions. Manuals include practice aids – review and audit programs, client representation letters, and technical review checklists.

Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days (SL1) – 16 hours .................................................... 6-2

Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days (SL2) – 16 hours .................................................. 6-3

Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days (SL3) – 16 hours ............................................................... 6-4


Loscalzo’s A&A Staff Level 1 - Entry Level Staff (2 Days) SL1

Why Attend This Course? This course is a must for firms who need to transition newly hired staff from the academic environment to the practice world. The program demonstrates to inexperienced staff with limited “real world” experience a variety of workpapers for typical assignments in the first year in the field. This program combines the one day program Loscalzo’s Documentation Techniques for Entry Level Staff with a discussion of compilation, review and audit issues. Designed for New entry level staff accountants (less than one year of experience). The course allows participants to easily make the transition from the classroom to the “real world”. Objective Participants will be able to: Prepare documentation for compilations, reviews, and audits that clearly, concisely, and completely

document the work performed Perform or describe those procedures typically assigned to first year staff accountants Link identified risks to audit responses Major Subjects The ABCs of preparing documentation, including SAS 103 requirements... Practical documentation formats that eliminate unnecessary work… Typical documentation deficiencies... Cash procedures... Analysis of receivables... Property, plant and equipment – capitalization and depreciation... Payables and other accrued liabilities... Revenue and expense procedures... Illustrations of documentation for all three levels of service Presentation Method Field of Study Group-live; lecture and group discussion of cases requiring Auditing actual preparation of documentation


Prerequisites Author(s) None Margaret Loscalzo, CPA and John Fleming, CPA

Advance Preparation Recommended CPE Credit Participants should bring a calculator to the session 16 hours Course taught by Matt Cohen Christa Dunn, Richard Ferdinand, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, and Rebecca Lee Participant Comments “I really enjoyed this 2 day seminar. After day 1 I found myself looking forward to coming back & learning more.” “An excellent course for anyone that needs initial new staff training.” “I was extremely surprised at how informative this seminar actually was. This was partly due to our instructor’s wonderful personality & knowledge of the material. I just hope I will be able to retain all of the information she shared with us.” “I enjoyed this class and felt this class will help my career as a whole.” “Appreciated calculations and working through examples. I’ve never done that with CPE.” “Very informative. I look forward to level 2 next year.” “The two day class lecture was extremely informative and was relevant to everyone. This course was absolutely worth it, and I cannot wait till next year.” “Very helpful course for someone at the beginner’s level.” “The course was very worthwhile.” “Case studies were useful.” “Material very helpful, lots of it and will be useful.” “Everything is perfect.” “Great seminar!” “I would recommend this course to all entry-level staff.” “I recently changed careers and needed a refresher course on Auditing/Reviews/and Compilations. The class was great. I really learned or re-learned a lot.” “It helped as a “jumpstart” to a career right out of college. Speaker was fun, broke up the presentation nicely with real life stories to move it along.” “This was definitely a must for all first-year staff accountants. It cleared many gray areas that I had in my audits and other types of services I was providing.” “This course was helpful in bridging gaps between college material and real world usefulness.” “The course was able to provide useful information and I was able to ask questions freely.”


Loscalzo’s A&A Staff Level 2 - Experienced Staff (2 Days) Why Attend This Course? As they gain more experience, staff are expected to take on more complex assignments with minimal supervision. This program provides the basics on tailoring audit programs and preparing GAAP financials. This program combines two one-day courses: Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards (RAS) and Loscalzo’s Disclosure – The Key To Financial Statements (DKFS). Designed for Experienced staff accountants (one to three years of experience) Objective Participants will be able to: Apply the risk-based audit standards Apply risk assessment audit procedures Develop effective and efficient audit strategies for private entity audits Select effective and efficient audit testing strategies Determine when it might be more efficient to perform internal control testing Prepare disclosures for privately held companies Major Subjects Risk assessment process… Risk assessment procedures… Audit planning… Audit strategy… Testing strategies… Internal control testing… Risk assessment audit standards… Sampling applications… Sufficiency of evidence… Documentation… Best practices… Linked and tailored audit procedures… Disclosure requirements for GAAP, with an emphasis on common peer review deficiencies Presentation Method Field of Study Group-live; lecture and group discussion of cases and discussion 8 hours in Accounting questions. For the audit segment, participants will walk through 8 hours in Auditing selected areas of an audit.

Level of Knowledge Availability Date Intermediate 7/1/2012 Prerequisites Author(s) Participants should be familiar with recent Laurie Horvath, CPA, accounting issues William Kraut, CPA Margaret Loscalzo, CPA, and Deborah Rose, CPA Advance Preparation Recommended CPE Credit Participants should bring a calculator to the session 16 hours

Course taught by Christa Dunn, Richard Ferdinand, John Fleming, Laurie Horvath, Carolyn Jeff, and Rebecca Lee

Audit Section (Day 1) qualifies for the 24 hour Yellow Book requirement. Disclosure Section (Day 2) qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. Participant Comments “Very informative and relevant information which was well suited for my background & experience and will be helpful going forward professional.” “Excellent course for anyone with limited experience, or a refresher course for someone with a lot of experience.” “Text was incredibly informative and touched on a great number of current issues and issues which are at times forgotten about or overlooked.” “This was excellent in format and informative – best CPE in a while. Excellent resources to back up speaking points.” “More fun than a barrel of monkeys.” “Very organized and planned program. I liked the interactive approach to learning.” “This seminar was one of the more positive and informative experiences I’ve had.” “I thought the course was great. It really helped me with understanding what is expected of me as far as procedures go.” “Excellent course. I will highly recommend.” “I really learned many auditing points. Great course!” “Easy to understand. Well prepared presentation materials.”


Loscalzo’s A&A Staff Level 3 - In-Charge (2 Days) SL3 Why Attend This Course? Many accountants find “doing” much easier than delegating. This program concentrates on building supervision and engagement management skills. It also addresses: Reviewing documentation Writing review comments

This course includes the one-day program, Loscalzo’s Tips on How to Review Documentation Effectively.

Designed for Staff with in-charge responsibility (over three to four years of experience)

Objective Participants will be able to: Plan and tailor the engagement following the new risk assessment standards Supervise staff Perform an effective review of documentation Document the review process Communicate documentation deficiencies to staff Differentiate between the review responsibilities for the in-charge, supervisor and partner

Major Subjects Role of the in-charge… Engagement and time management… Planning considerations, including fraud risk assessment, and the risk of material misstatement… Documentation requirements under the risk assessment SASs and SSARS requirements… Common documentation problems… Approaches to workpaper review... Effective communication techniques that boost morale, not deflate it… Documentation of the review process

Presentation Method Field of Study Group-live; lecture, role play, and group discussion of Auditing cases involving a review of review and audit documentation


Prerequisites Author(s) Participants should have staff level experience John Fleming, CPA and Margaret Loscalzo, CPA


Course taught by Christa Dunn, Richard Ferdinand, John Fleming, Laurie Horvath, Carolyn Jeff, and Rebecca Lee Day 1 topic: “Planning Cost Efficient And Effective Audits (4 hours)” qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.

Participant Comments “The course was very helpful and interactive which made it a great learning experience”. “Very applicable and interesting. One of the best CPE courses I’ve ever attended.” “I think this class is a must for any in-charge new to the role of a more experience in-charge.” “The course was very informative and helpful. I would recommend this course to other colleagues.” “I really enjoyed the course & the materials, the interaction with the other students.” “Great course! Methods used help to reinforce what’s presented and to keep one’s attention.” “The examples and role playing were great to keep everyone attentive and alert.” “Very good interaction and case studies. Course material in manual appears to be good resource.” “Liked case studies & actual walk through examples – helped tremendously in understanding.” “Role play examples were excellent.” “Great examples. Now I have the “audit” fever! I thought that the material was well organized.” “Case studies worked very well in application of materials.” “Case studies were informative and applicable.” “Seminar was great and enhanced my skills as a reviewer and ability to manage engagements and staff.” “This course was great. It outlined, in detail, all that is expected of a senior and how to meet and achieve those expectations.” “Course was excellent. Having more experience than most other participants, I noted that everything was on point and good advice. Hope the younger participants listened, will recommend to others.” “I thought the group interaction was very helpful. Kept us motivated.”


SSEECCTTIIOONN 77:: PPRROOFFEESSSSIIOONNAALL EETTHHIICCSS PPRROOGGRRAAMMSS Loscalzo’s Professional Ethics for CPAs – 4 hours ........................................................................................... 7-2


Loscalzo’s Professional Ethics for CPAs ETHICS Why Attend This Course? With the profession in the hot seat, CPAs need to be aware of standards and principles that impact the services they provide. This program covers ethical issues affecting CPAs in practice and industry.

Designed for CPAs in public practice as well as CPAs employed in private industry

Objective Participants will be able to: Identify independence issues Comply with other ethics requirements such as client records, commissions and contingent fees, etc.

Major Subjects Issues impacting attest services, including independence issues… Issues impacting non-attest practices and engagements… Issues impacting CPAs in industry

Presentation Method Field of Study Group-live; lecture and group discussion of questions Regulatory Ethics


Prerequisites Author(s) Basic knowledge of professional ethics rules Kenn Heaslip, CPA and regulations


NOTE: This four hour ethics program can be combined with any of our four hour programs.

Course taught by Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, and Deborah Rose

NOTE: Our ethics curriculum includes a generic ethics program and several state board specific programs. Please check with your state board ethics requirements to see if a generic ethics program or a state board specific program is required.

Participant Comments “Excellent! This was the first ethics course actually relevant to situations in public practice. Very helpful and informative.” “This was one of the best Ethics courses that I’ve attended. I especially liked the question/answer format.” “Excellent presentation – great way to present ethics.” “Well done. Good balanced ethics review with case studies.” “Very informative class. Discussed problems and resolution of these problems that are practical to small practices.” “I really learned about a dozen new things. Great course.” “Ethics presentation was excellent and relevant. Real life experiences help to reinforce understanding of the requirements. Very good!!!” “Course was excellent and very, very informative.” “This course was much improved over the ethics course from the last 3 year period. The discussion, using case studies on independence were very good. The CPE information was excellent. I found this course to be useful and interesting.”. “Prior to attending, I perceived an ethics continuing education requirement was a waste of my time. The quality of the discussion leader and the material presented proved me wrong. This was a very informative and educational program.” “Perfect for interactive case-study style presentation.” “Practical applications and examples are excellent.” “Great seminar – very useful, thorough materials.” “I really enjoyed the program – much better than I thought it was going to be.”


SSEECCTTIIOONN 88:: LLOOSSCCAALLZZOO’’SS TTWWOO HHOOUURR SSHHUUFFFFLLEE PPRROOGGRRAAMMSS The Ultimate in CPE Flexibility

These two hour programs have been designed to allow flexibility in scheduling a training program that meets the specific needs of the client. These programs can be combined with other four or two hour programs.

Level of Knowledge Field of Study Basic Accounting and/or Auditing Advance Preparation Availability Date None 6/1/2012

Loscalzo’s Two Hour Shuffle Programs: Loscalzo’s 11-K Employee Benefit Plan Audits ................................................................................................. 8-2 NEW! Loscalzo’s Accounting Standards Update ............................................................................................... 8-2 Loscalzo’s Acquisition Accounting ..................................................................................................................... 8-3 Loscalzo’s Analytical Procedures for Not-for-Profit Organizations .................................................................... 8-3 Loscalzo’s Analytical Procedures for Reviews and Audits ................................................................................ 8-4 Loscalzo’s Common Peer Review Disclosure Deficiencies and How to Solve Them ....................................... 8-4 Loscalzo’s Consolidation of Variable Interest Entities Revisited ...................................................................... 8-5 Loscalzo’s Effective Use Of OMB Circulars ....................................................................................................... 8-5 Loscalzo’s High Risk Areas — Inventory and Receivables ............................................................................... 8-6 Loscalzo’s How to Analyze Financial Statements ............................................................................................. 8-6 Loscalzo’s Meeting Workpaper Documentation Requirements ......................................................................... 8-7 Loscalzo’s Practice Problems with Related Party Transactions ........................................................................ 8-7 Loscalzo’s Recent Compilation and Review Issues .......................................................................................... 8-8 Loscalzo’s Reviewing Documentation for Efficiency and Effectiveness ............................................................ 8-8 Loscalzo’s SAS 115 Communication Issues ..................................................................................................... 8-9 Loscalzo’s Selecting Major Programs for OMB Circular A-133 Audits .............................................................. 8-9 Loscalzo’s The Dangers of Improper Revenue Recognition ........................................................................... 8-10 Loscalzo’s Troublesome Accounting and Auditing Issues — A Potpourri of Engagement Issues .................. 8-11 Loscalzo’s Understanding the Requirements of Government Auditing Standards (Yellow Book) ................... 8-12 Loscalzo’s Use of a Service Organization Auditor Report by Management and the User Auditor .................. 8-13 Loscalzo’s Using Nonstatistical Sampling for Efficient Audits ......................................................................... 8-14

Participant Comments “Materials are well developed and make great references and include references to professional literature.” “4 hour courses that appeal to industry are helpful.” “I like these short courses at the end of the year. It provides a great deal of flexibility.” “Resource materials provided were excellent.” “Great presentation with good examples, good material.” “Great course. Covered a lot of good topics.” “Excellent. This is what CPE should be.” “I liked the concept of having 4 different topics wrapped into one day – provides diversity.” “2 hour class formats are great! To the point and very informative.” “I learned a lot from the sampling discussion. Everything was useful.” “Very effective!”


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s 11-K Employee Benefit Plan Audits Employee Benefit Plans that offer shares of plan sponsor securities to participants for investment are required to register the shares with the SEC. As a result, these plans are subject to annual reporting and disclosure responsibilities under the SEC Act of 1934. This requirement is satisfied by the Plan filing an 11-K. Plans that are required to file an 11-K are considered separate issuers and as such, the audits performed are subject to the provisions of the Sarbanes Oxley Act of 2002 and the auditing standards and rules of the Public Company Accounting Oversight Board (“PCAOB”). This program will discuss many of the unique requirements of an 11-K audit engagement. Designed for Practitioners in public accounting firms with experience in auditing employee benefit plans Objective Participants will be able to: Identify the unique requirements of an 11-K audit engagement Prepare audit reports in accordance with SEC requirements Implement the PCAOB standards Identify the major differences in performing an audit under PCAOB standards versus generally accepted

auditing standards (“GAAS”) Major Subjects Firm’s registration with the PCAOB… Annual and Special Reporting to the PCAOB… PCAOB Inspections… PCAOB Standards and Rules… Independence Rules… Prohibited Non-Audit Services… Concurring Partner Reviews… PCAOB Engagement Quality Review… Partner Rotation… Pre-approval of Services… Audit Report and Opinion… SEC Filing Requirements… Consent Letter… SAS 61 Letter… Communication of Significant Deficiencies and Material Weaknesses Field of Study Course taught by Auditing – 2 hrs Greg Clark NEW! Loscalzo’s Accounting Standards Update This session will provide an overview of changes made by accounting standards updates issued after June 2011. Only pronouncements which are relevant to local accounting firms or privately-held companies will be covered in detail. For other issues, a quick synopsis will be provided. Designed for All firms, all staff, all CPAs in privately-held companies – all accountants needing a good year-round update on recently issued accounting standards Objective Participants will be able to apply new accounting literature Major Subjects Relevant pronouncements issued since June 2011 Field of Study Course taught by Accounting – 2 hrs Greg Clark, Matt Cohen, John Fleming, Kenneth Heaslip,

Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, Bob Schapperle, and Marci Thomas



Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Acquisition Accounting Your client just purchased a rental property. Simple asset purchase or business acquisition? With the fair value requirements now applying to "hard assets", acquisition accounting takes on a whole new meaning. This session will discuss not only how the business combination pronouncement expands what is accounted for as a business acquisition but it also discusses the nuances of items never before required to be valued. The program will use specific examples of what and how acquired items must be valued. Designed for Those in public practice and industry Objective Participants will be able to identify assets and liabilities including any noncontrolling interest that requires special fair value considerations Major Subjects Fair Value Measurements (Overview)… Valuation of Assets and Liabilities… Business Combinations… Determination of the Useful Life of Intangible Assets… Noncontrolling Interests in Consolidated Financial Statements Field of Study Course taught by Accounting – 2 hrs John Fleming, Jim Newhard, and Bob Schapperle Loscalzo’s Analytical Procedures for Not-for-Profit Organizations Auditors are required to perform substantive tests of all significant account balances and classes of transactions. This testing can take the form of tests of details, substantive analytical procedures (SAP) or a combination of the two. Since sample sizes for tests of details can be very large, especially for statement of activity accounts, many auditors are turning to substantive analytical procedures. Designed for Auditors in public practice and practitioners in industry or public accounting interested in performing substantive analytical procedures Objective Participants will be able to: Assess when it makes sense to perform substantive analytical procedures Perform and document these procedures Major Subjects Determining whether it is efficient or effective to perform SAPs… Testing reports used when performing SAPs… Plausible and predictable relationships in data used for SAPs… Setting expectations… Refining expectations… Evaluating precision… Regression analysis… Concluding based on the audit evidence obtained Field of Study Course taught by Auditing – 2 hrs Allen Fetterman, Laurie Horvath, Carolyn Jeff, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor's Yellow Book clients. Note that the determination of course qualification is a matter of an auditor's professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Analytical Procedures for Reviews and Audits There’s no question that analytical procedures require a great deal of judgment in deciding just how much “digging” must be done to develop expectations and evaluate fluctuations and other anomalies that are discovered. And it’s true that analytical procedures require a thorough understanding of the client’s operations. But these two characteristics are exactly why analytical procedures can be effective evidence on reviews and audits and a strong tool for increasing efficiency. This program is designed to clear up misconceptions in implementing professional performance standards and increase effectiveness and efficiency in the performance of analytical procedures. Designed for Accountants in public practice Objective Participants will be able to perform and document analytical procedures appropriately and cost effectively Major Subjects Using knowledge of the client and changes to develop expectations… Knowing when to stop investigating fluctuations… Selecting the most effective and efficient APs… Documenting APs Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Laurie Horvath,

Carolyn Jeff, Rebecca Lee, Deborah Rose, and Bob Schapperle Loscalzo’s Common Peer Review Disclosure Deficiencies and How to Solve Them This program reviews the most common disclosure “errors” cited in peer review over the last decade.

Designed for Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public financial statements. This program is a must for those practitioners who will undergo peer review. Objective Participants will be able to prepare disclosures for commonly deficient areas for privately-held companies Major Subjects Accounting policy errors… Risks and uncertainties… Related party problems… Balance sheet "deficiencies"… Classification of liabilities and other debt issues… Income statement areas… Cash flow statement Field of Study Course taught by Accounting – 2 hrs Greg Clark, John Fleming, Kenneth Heaslip, Carolyn Jeff, Rebecca Lee, and Deborah Rose Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Consolidation of Variable Interest Entities Revisited This program will provide you with the most up-to-date revised guidance issued based in ASC 810, Consolidation. Designed for Accountants in public practice and industry Objective Participants will be able to determine if and how to consolidate variable interest entities and to prepare the appropriate disclosures related to consolidating VIEs Major Subjects Determining when an entity is a variable interest entity… Determining if a primary beneficiary exists… New reconsideration events… Expanded disclosures for private and public companies effective in 2010

Field of Study Course taught by Accounting – 2 hrs Greg Clark, John Fleming, Rebecca Lee, and Deborah Rose Loscalzo’s Effective Use Of OMB Circulars Recipients of federal grants must follow Office of Management and Budget (OMB) guidelines in their administration. OMB circulars set standards for financial management, and include written procedures for determining the reasonableness and permissibility of costs with the condition of the award. Designed for Auditors in public practice and practitioners in industry or public accounting interested in applying the provisions of OMB cost and administrative circulars to not-for-profit or governmental entities Objective Participants will be able to apply the provisions of: OMB Circular A-21 OMB Circular A-122 OMB Circular A-87 OMB Circular A-102 OMB Circular A-110 Major Subjects OMB Circular A-21 Cost Principles applicable to educational institutions… OMB Circular A-122 Cost Principles applicable to nonprofit organizations… OMB Circular A-87 Cost Principles applicable to state, local and Indian tribal governments… OMB Circular A-102 Administrative Requirements applicable to state and local governments… OMB Circular A-110 Uniform Administrative Requirements applicable to educational, hospital and other nonprofit organizations… Composition of total costs… Factors affecting allowability of costs, reasonable costs, allocable costs, applicable credits, direct costs, indirect costs, allocation of indirect costs and determination of indirect cost rates… Integration of circulars with A-133…. Changes brought about as a result of SAS No. 117 on compliance auditing Field of Study Course taught by Auditing – 2 hrs Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s High Risk Areas – Inventory and Receivables Covers guidance on analytical procedures including in both SSARS and audit guidance

The headlines continue to “blast” accounting firms for fraud and misstatement of inventory and accounts receivable, and those are only the ones that make it into the newspapers. This program deals with the key exposure areas for inventory and receivables and how accountants can reduce risk when performing a compilation, review or audit. Designed for Those in public practice Objective Participants will be able to perform compilation, review, and audit procedures for inventory and receivables Major Subjects Inventory audit problems… Inventory – compilation and review problems… Accounts receivable – audit problems… Revenue risk issues… Problems with receivables in SSARS engagements Field of Study Course taught by Auditing – 2 hrs Greg Clark, Matt Cohen, John Fleming, Laurie Horvath, Rebecca Lee, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement. Loscalzo’s How To Analyze Financial Statements While all CPAs know how to analyze financial statements, recent articles in the financial press on improper revenue recognition, quality of earnings and cash flow issues have emphasized the importance of understanding financial statement relationships beyond traditional accrual analysis. This program uses analysis techniques that would identify unusual or unexpected financial statement relationships. Cash flow analysis and use of industry data will be emphasized. Designed for CPAs and accountants in industry who analyze financial results to enhance evaluation of operations and develop business strategies Objective Participants will be able to apply both traditional and non-traditional financial statement analysis techniques for specific entities and objectives Major Subjects Traditional financial statement analysis… Cash flow measurements… Enhancing ratio analysis with cash flow measurements… Quality of earnings considerations… Use of industry data with closely held companies Field of Study Course taught by Accounting – 2 hrs Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Mark Mishler, Jim Newhard, Deborah Rose, and Bob Schapperle


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Meeting Workpaper Documentation Requirements Various standard setting bodies have expanded the requirements for both workpaper preparation and retention. This, coupled with recurring documentation deficiencies noted in peer review, increases the importance of adopting best practices for engagement documentation. Designed for Accountants in public practice Objective Participants will be able to prepare workpapers for compilations, reviews and audits that meet professional standards Major Subjects What workpapers must be prepared in a compilation and review… Audit documentation required by SAS 103 (redrafted) and the risk assessment SASs… Common documentation “problems”… Workpaper retention – what and how long?... Samples of key workpapers will be included in the manual Field of Study Course taught by Auditing – 2 hrs Greg Clark, Matt Cohen, John Fleming,

Laurie Horvath, Carolyn Jeff, Rebecca Lee, and Deborah Rose

Loscalzo’s Practice Problems With Related Party Transactions Many notorious accounting scandals included related party scams, and small business owners misrepresenting the substance over form requirements of GAAP when related party transactions are involved. Should a related party transaction be accounted for differently from an arms-length transaction? Is disclosure an “out” to handle related party transactions any way the company wants? Using a series of “live” cases, this program will answer these two questions and discuss proper presentation and disclosure in the financial statements, as well as examine accounting issues involving related parties that are equity method investees. Designed for Accountants in public practice and industry Objective Participants will be able to recognize, account, and disclose related party transactions Major Subjects A closer look at related party transactions and the related accounting guidance… The equity method of accounting for investments in common stock… Special cases – equity method Field of Study Course taught by Accounting – 2 hrs Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Recent Compilation and Review Issues SSARS 19 effectively rewrote and codified most of the compilation and review standards. This program is designed to address these revised standards. Designed for Practitioners who perform compilations and reviews for small business clients Objective Participants will be able to: Effectively perform compilations and reviews Efficiently document compilations and reviews Identify problem and exposure areas Major Subjects Revised report language… Required engagement letter… Optional disclosure when independence is impaired… Required documentation… Performance standards Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Jim Newhard, and Deborah Rose Loscalzo’s Reviewing Documentation for Efficiency and Effectiveness With the time pressure of getting the job “out the door”, often review of documentation is limited to checking that the financial statement numbers tie into the documentation and that major technical issues are addressed. Although this approach is clearly important to insure high quality, it does little to train the staff on how to cut out extraneous procedures and documentation. This program will discuss a process that can be used by the reviewer to balance risk and efficiency. It will discuss SAS and SSARS documentation requirements and use an actual review exercise and illustrations on documenting the review process. Designed for The in-charge accountant responsible for supervising the engagement Objective Participants will be able to perform and document an effective review of documentation Major Subjects Documentation contents… Selecting documentation to be reviewed… The actual documentation review… Documenting the documentation review Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Marci Thomas


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s SAS 115 Communication Issues SAS 115 defines significant deficiencies and material weaknesses and describes the communication (reporting) necessary to alert management and those in charge of governance of deficiencies in internal control. This program reviews the guidance in SAS 115 and provides examples of significant deficiencies and material weaknesses. In addition, illustrative communication reports are described. Designed for Those in public practice Objective Participants will be able to apply SAS 115 communication issues Major Subjects Distinguishing between control deficiencies, significant deficiencies and material weaknesses… Evaluating the impact of compensating or complementary controls… Form and content of SAS 115 report… Timing requirements for issuance of the report… Samples of the most common SAS 115 comments Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, Deborah Rose, and Marci Thomas Loscalzo’s Selecting Major Programs for OMB Circular A-133 Audits In 2007, a report was issued on a statistical sample of audits selected for quality control review under the auspices of the President’s Council on Integrity and Efficiency (PCIE). With over half of the audits having deficiencies, one recurring noted deficiency related to the implementation of the risk based approach. If the auditor does not choose the right programs to audit according to the guidance, then the audit is deficient.

Designed for Auditors in public practice and practitioners in industry or public accounting interested in understanding how major programs are selected under OMB Circular A-133

Objective Participants will be able to: Apply the risk based approach described in OMB Circular A-133 Determine coverage requirements Prevent deficiencies in program selection identified in the PCIE study

Major Subjects This program walks through the risk based approach with a step by step case study and addresses application of the risk based approach… Low risk auditee… Exceptions to the risk based approach… Setting the threshold and coverage… Type A risk criteria… Type B risk criteria… Excluded B programs… Clusters of programs… Requested programs… Instances where the risk based approach is not applicable… This course includes a case study for participants to test their knowledge.


Field of Study Course taught by Auditing – 2 hrs Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s The Dangers Of Improper Revenue Recognition Headline after headline points out how pervasive improper revenue recognition is. Finally, the FASB has added a project to revisit revenue recognition. Through lecture and short case write-ups, this program will identify improper revenue recognition techniques. In addition, the program will address quality of earnings – so much in the forefront in this scandal-ridden environment.

Note: This is a two hour version of our full day program “Loscalzo’s Deceptive Accounting and Revenue Recognition Techniques – Recognizing the Warning Signs.”

Designed for Practitioners in industry and in public practice

Objective Participants will be able to: Identify creative accounting practices used to deceive financial statement users Identify those risk characteristics normally associated with fraudulent financial reporting Apply accounting rules the right way

Major Subjects General revenue recognition principles… New revenue recognition guidance as a result of a joint FASB/IASB project… Accounting for product financing arrangements… Accounting for sales of real estate… Software revenue recognition… Service transactions and construction contracts… Improper revenue recognition: A problem for the profession… Other deceptive revenue recognition practices

Field of Study Course taught by Accounting – 2 hrs Greg Clark, John Fleming, Kenneth Heaslip, Laurie Horvath, Rebecca Lee, Jim Newhard, Deborah Rose, and Bob Schapperle Qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Troublesome Accounting And Auditing Issues – A Potpourri Of Engagement Issues Time and time again, professionals are having difficulty applying, in a practical way, a variety of accounting and auditing pronouncements. This program will pick out and review the most common areas of concern for both the peer reviewer or firm quality control professional.

Designed for Those in public practice

Objective Participants will be able to address troublesome accounting and auditing pronouncements

Major Subjects Some of the areas to be addressed are departures from GAAP or special purpose frameworks… Leasing issues for privately held companies… Reporting issues encountered by local practitioners… Implementation issues regarding the risk assessment standards

Field of Study Course taught by Accounting – 1 hr and Auditing – 1 hr Greg Clark, John Fleming, Laurie Horvath, Carolyn Jeff, Rebecca Lee, and Deborah Rose Section on auditing standards qualifies for the 24 hour Yellow Book requirement. Section on accounting standards qualifies for the 24 hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Understanding the Requirements of Government Auditing Standards (Yellow Book) In 2011, the GAO issued a new version of the Yellow Book (Government Auditing Standards) which incorporates the new GAAS professional standards and includes some new material. The program will discuss the elements of the Yellow Book. Auditors cannot afford to ignore GAS since they are required to issue a report on internal control and a report on compliance over financial reporting. In addition, if either the general standards or specific standards are violated, the auditor will be required to specifically state that in the scope section of the report on the financial statements. Designed for Auditors in public practice and practitioners in industry or public accounting interested in understanding the requirements of government auditing standards Objective Participants will be able to: Determine when the Yellow Book applies Address the general provisions of the Yellow Book Implement fieldwork and reporting provisions of the Yellow Book

Major Subjects When the Yellow Book applies to audits… GAS independence rules… GAS continuing professional education requirements… GAS quality control and peer review requirements… Consideration of internal control over financial reporting… Consideration of noncompliance… Consideration of abuse… Written representations from management… Reporting

Field of Study Course taught by Auditing – 2 hrs Allen Fetterman, Carolyn Jeff, Rebecca Lee, Joe Scudese, Marci Thomas, and James Woy



Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Use of a Service Organization Auditor Report by Management and the User Auditor This program is designed for practitioners who wish to use service organizations’ reports to reduce the scope of their work and become more efficient as well as those in industry who need to understand how reliably the transactions that they trust to service organizations are being handled. The course also addresses the controls that the user organization needs to have in place.

Note: This program is especially important for practitioners who perform employee benefit plan audits.

Designed for Those in industry who use service bureaus and want to understand how they can help ensure that the controls at the service organizations are appropriately designed (and are effective for those obtaining type 2 reports) as well as those in public practice who use the reports in their audits

Objective Participants will be able to determine how to use service organizations’ reports in their audits

Major Subjects Changes in SAS requirements and SSAE 16… Differences in the two types of reports… What work is required on each report... User organization controls… When and how these reports can reduce work… Frequent traps and peer review issues involving service organization reports

Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Laurie Horvath, Rebecca Lee, Deborah Rose, and Marci Thomas Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


Loscalzo’s Two Hour Shuffle Programs Loscalzo’s Using Nonstatistical Sampling For Efficient Audits Many auditors do little sampling in their audits because of the misconception that sampling must be statistical. This program illustrates the guidance in the current AICPA Audit Sampling Guide relating to nonstatistical sampling applications designed to improve audit engagement efficiency. Designed for Those in public practice Objective Participants will be able to select, perform, and evaluate samples Major Subjects Requirements under the risk assessment standards… Planning nonstatistical procedures… Sampling when testing controls and when performing substantive tests… Sampling techniques… Determining sample sizes… Use of probability proportional to size sampling… Sampling error evaluation problems Field of Study Course taught by Auditing – 2 hrs Greg Clark, John Fleming, Laurie Horvath, Rebecca Lee, Bob Schapperle, and Deborah Rose Qualifies for the 24 hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80 hour requirement.


SSEECCTTIIOONN 99:: LLOOSSCCAALLZZOO’’SS 22001122 DDIISSCCUUSSSSIIOONN LLEEAADDEERRSS

BERNIE BROWN, CPA, is a discussion leader for LOSCALZO ASSOCIATES, LTD. Bernie is a CEO with The Power of We, a firm specializing in Fractional C-Suite services, CEO, CFO, VP of Sales, Business valuations, Strategic Planning, operations and sales and marketing planning. With more than twenty-five years’ experience as a CFO, VP of Finance, Treasurer, and Risk Manager, Bernie has participated in fast-growing multi-national businesses. He has significant hands on experience with bank relationships, reorganizations, cost reductions, acquisitions and divestitures.

Bernie has worked with Tyco International, Noel Group LLC, Nomaco Inc., Holliston LLC. He is a graduate of Penn State University with degrees in Business Administration & Professional Accountancy, and has also taught Personal Finance 101, Health and Welfare Wellness seminars. Bernie has been recognized as a leader in his local community, the chairmen of the Finance committee at St. Raphael’s Catholic Church, the Grand Knight for the local Knights of Columbus Chapter, is a member of Delaware CPA Society, American Institute of Certified Public Accountants (AICPA), and the Financial Executive Networking Group (FENG).

Average Ratings: N/A

Teaches the following:

Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s GAAP Refresher Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness


Loscalzo’s 2012 Discussion Leaders (continued) GREG M. CLARK, CPA, CISA, CFE is an author and discussion leader for LOSCALZO ASSOCIATES LTD. and a Principal with the Business Compliance & Controls Group (BCCG) an accounting consulting firm specializing in employee benefit plan audits and compliance, internal controls auditing, consulting and assessments, and technical accounting training and consulting. With extensive experience in the audit and business compliance field, Greg has participated in all aspects of employee benefit plan engagements, including plan audit and business risk assessments, plan internal control assessment and design, plan regulatory compliance, data retention management, and administrative contract compliance. BCCG provides technical accounting and auditing consulting services, quality control and effectiveness reviews and compliance

assistance to CPA firms performing both general attest and employee benefit plan engagements. Greg is an internationally known speaker on the topics of employee benefit plans, technical accounting and auditing, operational auditing and internal controls evaluations, data retention management, organizational risk assessments and various other topics. Greg has worked with accountants and auditors from international companies throughout the world, many Fortune 500 companies, numerous local, regional, and national CPA firms, and for more than 40 State CPA societies.

Average Ratings: 4.7


Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s Accounting and Auditing Conference Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special

Purpose Frameworks) Loscalzo’s Tips on How to Review Documentation Effectively Professional Ethics for CPAs


Loscalzo’s 2012 Discussion Leaders (continued) EMANUEL MATTHEW COHEN, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. and is associated with a CPA firm in Indiana focusing on the performance of attest engagements including the audits of employee benefit plans, non-public private companies, and not-for-profit organizations. He has also taught a variety of accounting courses as an adjunct instructor at Indiana State University. Matt has over 20 years of accounting experience including over seven years as a senior financial officer for not-for-profit organizations. Matt’s career experience includes Director of Finance/Treasurer, Gibault Inc; Chief Financial Officer, AP&S Division of Union Hospital; Accounting Supervisor, Hamilton Center, Inc; and Business Administrator, Terre Haute Coca-Cola Bottling, Inc. He is a member of the American Institute of Certified Public

Accountants and the Indiana CPA Society. He serves on the Leadership Cabinet of the Indiana CPA Society. He received his Bachelor of Science in Accounting and Masters of Business Administration from Indiana State University. While finishing his MBA at Indiana State University, he completed his comprehensive exam with distinction.

Average Ratings: N/A Teaches the following:

Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency


Loscalzo’s 2012 Discussion Leaders (continued) CHRISTA M. DUNN, CPA, CFE, CEBS, ACI is a discussion leader for LOSCALZO ASSOCIATES LTD. and member with Christa M. Dunn, CPA, LLC focusing on the performances of attest engagements including the audits of employee benefit plans. She has also taught a variety of accounting courses as an adjunct professor at Trident Technical College and the Citadel Military College of South Carolina. Christa Dunn is a member of the South Carolina Association of Certified Public Accountants and the American Institute of Certified Public Accountants. She received a Master of Accountancy and Bachelor of Business Administration degrees from the University of Georgia. In addition to being a Certified Public Accountant, Christa is also a Certified Fraud Examiner (CFE) and holds the Certified Employee Benefits Specialist (CEBS) and the Associate of Captive Insurance (ACI) designations.



Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff Loscalzo’s GAAP Refresher Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Tips on How to Review Documentation Effectively


Loscalzo’s 2012 Discussion Leaders (continued)

JACK ELLOVICH, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. and is a sole practitioner in Hartford, CT. He has over 35 years of accounting experience, which includes six years with Price Waterhouse, Manager of Internal Audit, and Vice President of audit for a Fortune 500 company and an asset based lender. Jack has also been the managing partner of a local firm. His audit and accounting experiences have included SEC, as well as privately held companies and not for profit entities. In addition, he has performed business valuations, and served as an expert witness in several litigation support engagements. Jack served as an adjunct professor at Central Connecticut State University for eleven years, and has presented continuing education courses in 33 states. Jack has received the Outstanding Discussion Leader recognition

from the Connecticut Society of Certified Public Accountants, New Hampshire Society of Certified Public Accountants, and Florida Institute of Certified Public Accountants. Jack has been published in Thinking Big in Small Business, Connecticut Society of Certified Public Accountants, Hartford, CT 1985 and 1986, as well as being the co-author of a staff training course.

Average Ratings: 4.5 Teaches the following:

Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special

Purpose Frameworks) Loscalzo’s Tips on How to Review Documentation Effectively


Loscalzo’s 2012 Discussion Leaders (continued) RICHARD FERDINAND, CPA, MBA is a discussion leader for LOSCALZO ASSOCIATES LTD. and is the Chief Financial Officer of Ensconce Data Technology, the creator of the Digital Shredder, an IT appliance that erases all data on computer hard drives beyond forensic recovery. Previously, Rich was the CFO of a Los Angeles magazine publisher and spent several years as a consultant for a crisis management consulting firm. For over 25 years, Rich has served as a discussion leader for continuing professional education seminars. He is a past recipient of the AICPA’s Outstanding Instructor Award and Award for Instructor Excellence from the California Foundation of CPAs. Rich has also been an accounting instructor at UCLA and is an alumnus of Deloitte & Touche.



Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff



ALLEN L. FETTERMAN, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. He lectures extensively throughout the country on not-for-profit accounting, auditing, federal compliance audits (OMB A-133), tax compliance, governance and professional ethics. Mr. Fetterman was an assistant professor of accounting at a college and has been a guest lecturer at Yale University and New York University. He is a past recipient of the AICPA’s and FAE’s Outstanding Discussion Leader Award. He has written articles published in national accounting periodicals in the United States and Israel on accounting and taxes for not-for-profit organizations. He retired in 2003 from Loeb & Troper, where he spent thirty-six years serving not-for-profit organizations as an auditor and consultant, the last twenty-five years as a partner. In addition to his client

responsibilities, he was the partner in charge of the firm’s quality control and technical resources. He has served on the AICPA’s Not-for-Profit Organizations Committee, Not-for-Profit Audit and Accounting Guide Task Force and Joint Trial Board. He has chaired the New York State Society of CPAs Not-for-Profit Organizations, Professional Ethics, Audit, and Quality Controls Committees and the AICPA Joint Trial Board. He also served as Vice President of New York State Society of CPAs. Mr. Fetterman received his BBA in Accounting from The City College of New York in 1968 and his MBA in Accounting from the Bernard M. Baruch College in 1972. He was elected to Beta Gamma Sigma, the national honorary society in business. He received his CPA certificate in 1973 and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. Allen has served on the governing boards of not-for-profit organizations. He currently chairs the audit committee of his local United Way.



Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency



JOHN M. FLEMING, CPA, MBA is the President of LOSCALZO ASSOCIATES LTD., a wholly owned subsidiary of SmartPros LTD. John has been associated with LOSCALZO ASSOCIATES for twenty-two years, most of that time as Loscalzo’s Director of Accounting and Auditing. As President of Loscalzo Associates, John is responsible for operations, program development, client relationships, and business growth. As Director of Accounting and Auditing, John has conducted approximately 2,300 continuing professional education programs and was responsible for developing, technically reviewing and delivering accounting and auditing CPE programs for CPA societies, professional associations, accounting firms, and corporate accounting groups. John has been a frequent presenter on accounting and auditing topics in SmartPros

monthly video series CPA Report. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance. John’s practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. Concurrent with John’s responsibilities with Loscalzo Associates in the past, he has performed numerous consulting assignments with various regional professional services firms in the areas of quality control, documentation review, technical compliance, and staff training and development. John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee as well as co-chair of the Philadelphia Chapter’s International Financial Reporting Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.


Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo’s Accounting and Auditing Conference Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special Purpose

Frameworks) Loscalzo’s Tips on How to Review Documentation Effectively Professional Ethics for CPAs



PETER GOLDMANN, MSc., CFE is a discussion leader for LOSCALZO ASSOCIATES LTD. and is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter has published White-Collar Crime Fighter since 1998 and has interviewed hundreds of fraud investigators, forensic accountants, white-collar crime attorneys, ex-convicts and auditors.

In addition, White-Collar Crime 101 has developed the leading employee fraud awareness training program, FraudAware. This is a user-friendly workshop, Webinar and E-learning training tool designed to educate employees at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct. The training, which is

customized for individual corporate, non-profit and government agency clients, reinforces companies’ whistleblowing programs, by enabling employees to detect fraudulent activity that can then be reported to supervisors or managers or by using the organization’s confidential hotline.

Peter has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a member of the Editorial 170 Detecting and Preventing Fraud in Accounts Payable Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the Institute of Internal Auditors, the High-Tech Crime Investigation Association and InfraGard. He is a regular columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud topics. He has appeared on The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine.


Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them


Loscalzo’s 2012 Discussion Leaders (continued) KENNETH HEASLIP, MS, MBA, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. He is a frequent speaker in all areas of accounting and taxation as well as careers in accounting. He recently served as Vice President of the NJSCPA and Secretary of their Scholarship Fund. He is an active member of several Society committees in taxation and student affairs. A past President of the Essex Chapter of the NJSCPA, as well as Trustee of the State Society, Kenn is Director of Taxation and Private Client Services of Leaf, Saltzman, Manganelli, Pfeli & Tendler LLP in Fairfield, NJ, a regional CPA firm. Kenn is an Associate Professor of Accounting at Bloomfield College. He previously was an Executive in Residence at Seton Hall University where he was the students’ choice as “Educator of the Year” two years in a row. He taught in the Executive MBA program at Rutgers University and has been with Becker CPA Review since 1983. Until 1998, Kenn was the National Director of the Becker CPA Review Course, where he was responsible to oversee and train over 350 instructors as well as be the lead editor of the course materials. Kenn lectured extensively throughout the United States, as well as in Canada and Asia. Kenn earned his B.A. from Rutgers College and two graduate degrees, an M.S. in Taxation and M.B.A. in Finance, from Seton Hall University.



Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special



Loscalzo’s 2012 Discussion Leaders (continued) LAURIE SEWARD HORVATH, CPA, is a discussion leader for LOSCALZO ASSOCIATES, LTD. and has over eighteen years public accounting experience, currently as a senior manager specializing in not-for-profit accounting. Her public accounting experience includes 4 years in a National Office role at a Big 4 firm working on international auditing and accounting curriculum and 5 years at a regional firm as the Director of Assurance Training and Education. Laurie has 15 years of non-for-profit and benefit plan experience as well as technical reviewer of financial statements. She specializes in not-for-profit and privately held companies. She is a graduate of the University of Michigan, Ann Arbor and has an MBA from Michigan State University specializing in Finance and Accounting. Laurie also teaches auditing and accounting as an Associate Professor at Walsh College in Troy, Michigan and contributed to supplemental materials for several auditing text books. Laurie serves as the Vice-Chair of the Board of Trustees for the Lighthouse of Oakland County, a human services agency in Pontiac, Michigan, and the Treasurer of the St. Joseph Mercy Oakland Hospital Foundation. She is a member of the American Institute of CPAs and the Michigan Association of CPAs.



Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Tips on How to Review Documentation Effectively Professional Ethics for CPAs


Loscalzo’s 2012 Discussion Leaders (continued) CAROLYN L. JEFF, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD., and is a manager with Warren, Averett, Kimbrough & Marino, LLC, a full-service CPA firm and the largest locally-owned firm in the state of Alabama. Carolyn has more than sixteen years’ experience in auditing, with an emphasis in serving not-for-profit and healthcare clients. She has provided assurance, business consulting, and internal control evaluation services. Carolyn has worked with not-for-profit and governmental hospitals, HMOs, foundations, trusts, and numerous small to medium not-for-profit clients, as well as a variety of clients in the manufacturing and construction industries. Carolyn is a graduate of the College of Charleston (cum laude) with a degree in Accounting and Business Administration. Carolyn has authored courses in not-for-profit accounting and auditing. She has also lectured on accounting and auditing updates, implementation of risk assessment auditing standards, and taught auditing to staff from the intern to the experienced senior level. Carolyn has served on the internal quality control team for Big Four and local firms. Carolyn is a member of the AICPA, the Alabama Society of CPAs, and the Healthcare Financial Management Association.



Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Professional Ethics for CPAs


Loscalzo’s 2012 Discussion Leaders (continued) REBECCA M. LEE, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. She was a principal organizer of Brooke, Freeman & Lee, Birmingham, Alabama, in 1982. As the Firm’s audit partner, she is responsible for the Firm’s audit practice and serves as a quality control reviewer for other firms. She has served on numerous AICPA and state society committees including the AICPA Management Consulting Service Professional Practice Subcommittee and Small Business Consulting Practices Subcommittee and is a past member of the Institute’s MAS Executive Committee and Personal Financial Planning Executive Committee. She has chaired both the Management Advisory Committee and the Personal Financial Planning Committee of the Alabama Society of CPAs. She currently serves as Chairman of the South Carolina Association of CPAs’

Continuing Professional Education Committee. She holds a BS degree in Accounting from Jacksonville State University, Jacksonville, Alabama, along with a Masters Degree in Accounting from Birmingham Southern College, Birmingham, Alabama. Ms. Lee is a discussion leader for all staff level audit training programs as well as, other accounting and auditing technical courses. She is a frequent speaker at CPA conferences, and has lectured extensively in the area of management advisory services at professional meetings and seminars for state societies and the American Institute of CPAs. Ms. Lee has served as professor of management accounting in the graduate studies (Master in Public and Private Management) program at Birmingham-Southern College. She is a member of the Alabama Society of CPAs, the South Carolina Association of CPAs and the AICPA.



Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s A&A Staff Level 1 – Entry Level Staff - 2 Days Loscalzo’s A&A Staff Level 2 – Experienced Staff - 2 Days Loscalzo’s A&A Staff Level 3 – In-Charge - 2 Days Loscalzo’s Accounting and Auditing Conference Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s Documentation Techniques for Entry Level Staff Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special Purpose

Frameworks) Loscalzo’s Tips on How to Review Documentation Effectively Professional Ethics for CPAs


Loscalzo’s 2012 Discussion Leaders (continued) JOSEPH E. MANFRÉ, CPA, is a discussion leader for LOSCALZO ASSOCIATES LTD. He is Co-Founder and Member of Sacco Manfre CPA, PLLC, Accountants and Advisors, located in White Plains, New York. He is licensed in the State of New York and has been servicing the needs of single employer and multi-employer benefit plans for most of his 30 year career in public accounting. He is currently the chairman of the NYSSCPAS Employee Benefits Committee and has been for many years and is currently, a speaker on audits of employee benefit plans at their annual conference. Joe has been quoted in the BNA Daily Tax Report, and is referred to by the NYSSCPA hotline for audit and tax related questions on employee benefit plans.

His experience and contacts in the employee benefits industry prove invaluable to Benefit Funds Trustees and Management. Joe is a member in good standing of the AICPA, NYSSCPA and the International Foundation of Employee Benefit Plans. He earned his BBA degree in Accounting from Bernard Baruch College.


Teaches the following: Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans



MARK MISHLER, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. and is the Chief Financial Officer of Breeze-Eastern Corporation in Whippany, New Jersey and currently serves as an adjunct professor of Accounting at Seton Hall University. Mark’s thirty years of business experience include positions as a financial analysis, director of finance, corporate controller, international controller, financial vice president and treasurer. His industry experience includes: chemicals, business information services, medical, manufacturing, consumer products, and aerospace. Mark is a global finance leader with CFO, controllership, treasury, SEC, SOX, and strategic planning skills and has managed over twenty business acquisitions during his career. Mark has functioned as a business partner to manage innovative change and improve operational efficiency

in his various positions. His core strengths are in analysis, problem solving, and cross-functional team leadership. Mark is active with Dale Carnegie and currently serves as Treasurer of the New Jersey Chapter of the Financial Executives International.



Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Improve Your Accounting and Finance Teams Effectiveness Loscalzo’s Introduction to the International Financial Reporting Standards


Loscalzo’s 2012 Discussion Leaders (continued) JAMES J. NEWHARD, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. After 7½ years of public practice with a regional and national CPA firm in the A&A departments, Jim established the firm James J. Newhard, CPA in December, 1986 focused on small business entrepreneurs, individuals and not-for profit organizations. Jim is an established CPA practitioner with over 31 years of experience providing a wide variety of tax (preparation and planning), accounting (review, compilation, CFO, and QuickBooks ProAdvisor), auditing & attestation, and advisory services to individuals, small-to-medium sized businesses (including start-up businesses), not-for-profit entities, estates, and trusts. Jim’s client service has ranged from small start-ups to small publicly-owned companies, providing assistance in compliance (from business licensing to drafting 10-K financial statements, disclosures and Management’s Discussion & Analysis). Jim graduated from Rider University in 1979 with degrees in Accounting and Management & Organizational Behavior, and is currently mid-way through a Masters in Taxation at Philadelphia University. Jim is a member of both the American and Pennsylvania Institutes of Certified Public Accountants, and is an AICPA “CPA Ambassador” representing the PICPA. As Greater Philadelphia Chapter past-president (2006-07) and recipient of the Volunteer Service Award (2009), Jim serves on several PICPA committees at the state level (Committee on Practitioners, Budget & Finance, CPA Image Enhancement, Member Services, State & Local Taxation, Legislation, A&A, and the Health Care Task Force) and the Philadelphia Chapter level (Committee on Practitioners [committee chair for 10 years], Budget & Finance [past chair], CPA Image Enhancement Committee [committee co-chair for 7 years], Local Taxation & Legislation Committee, Member Services, the IFRS Committee, and the Executive Committee). Additionally, Mr. Newhard serves as the editor of the Practitioner’s column for the Pennsylvania CPA Journal, and has authored several columns and features.



Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special

Purpose Frameworks)



ROBIN RING, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. and is a partner with Alexander, Offenberger & Root, Inc., and is currently the firm’s quality control director. With more than twenty-eight years’ experience, he provides a wide variety of audit, tax, accounting, and consulting services to his clients. His primary focus is with privately held companies in the manufacturing, non-profit, service, and construction industries. Robin performs audits of pension plans as required by ERISA and the Department of Labor. He also performs audits in the following industries: employee benefit plans, construction, manufacturing, common interest realty associations, not-for-profits, and rural electric distribution cooperatives. He is proficient in small business accounting, auditing, and taxation and also performs both system and

engagement peer reviews. He received his Bachelor of Science degree from St. Joseph's College. He is a member of the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants. He is also a member of the Review Advisory Board, the CPE Scheduling Committee, a member of the Practicing Aspects of Reviews and Compilations Committee and the Audit and Accounting Committee for the Ohio Society of CPA’s. He is the past CPE chairman of the Columbus Chapter of OSCPAS. Robin has been a seminar leader for various professional organizations.



Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special

Purpose Frameworks)



DEBORAH ROSE, CPA is an author and discussion leader for LOSCALZO ASSOCIATES LTD. and a partner with Loescher, Rose & Co., CPAs. She is also a full-time lecturer at the University of Rhode Island, College of Business Administration where she has taught accounting courses since 1978. Debbie has 32 years of public accounting experience, nine of which were with Deloitte, Haskins and Sells and Arthur Young & Company. In addition to teaching and writing curriculum for Loscalzo Associates since 1988, she taught numerous regional and national programs for her firms and has been recognized as an Outstanding Discussion Leader by the AICPA. Debbie has served as a board member for the Rhode Island Society of CPAs, and served for many years on its CPE Committee. She authored instructional materials for several Prentice Hall

accounting textbooks and also participated as an invited speaker at that publisher's regional conferences for accounting educators. Debbie Rose holds an MS in Accounting degree from the University of Rhode Island and BS in Mathematics from Simmons College.


Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s Accounting and Auditing Conference Loscalzo’s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special




ROBERT F. SCHAPPERLE, CPA, MBA, is a discussion leader for LOSCALZO ASSOCIATES LTD. Bob is a recently retired Deloitte & Touche partner, with over 30 years of experience as a partner serving a variety of clients in the areas of health care, higher education, manufacturing, distribution, and life sciences. Bob’s practice experience includes: Audit Partner in Charge of the Philadelphia Office; Practice Leader of the Philadelphia Office’s Real Estate Group, Litigation Support Services Practice, and Computer Audit Services Practice; as well as National Service Line and Industry Practice Leader for Higher Education Services. Bob has also served as an advisory partner in Deloitte’s Office of General Counsel, and a mergers & acquisitions partner in Northern California and Hawaii. Bob is a graduate of Villanova University and the

Wharton Graduate School of the University of Pennsylvania. He has been an Adjunct Instructor at LaSalle University and at the Wharton Graduate School, as well as a discussion leader and instructor at various Deloitte & Touche sponsored training programs. He is a member of the American Institute of CPAs (AICPA) and received the Alexander E. Loab Gold Medal Award for the highest grades in Pennsylvania in the November 1970 CPA Examination and the AICPA Elijah Watt Sells Award.


Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s Accounting and Auditing Conference Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Answer to Frequently Asked Questions in Accounting and Auditing Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs Loscalzo’s Disclosure - The Key To Financial Statements Loscalzo’s GAAP Refresher Loscalzo’s Introduction to the International Financial Reporting Standards Loscalzo’s Tax Practitioner’s Guide to Accounting and Reporting Issues Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP (Special Purpose

Frameworks) Loscalzo’s Tips on How to Review Documentation Effectively



JOE SCUDESE, CPA, CFE, CGFM is a discussion leader for LOSCALZO ASSOCIATES LTD. and is a partner in the public accounting firm of WithumSmith+Brown, PC. He is also the firm’s Team Leader for State & Local Government Services Group. With more than forty years of experience in auditing and consulting on audits of Federal, State and Local governmental contracts and grants, Joe is a frequent speaker on various topics related to governmental auditing and in particular auditing under Office of Management Budget Circular A-133. Joe has worked with many Federal Agencies including the U.S. Department of Labor and the U.S. National Science Foundation, in addition Joe has also participated as a partner on numerous audits for the Office of Auditing, New Jersey Human Services. Joe has worked with various City of New York agencies, namely the

Department For The Aging, the Department of Health and Mental Hygiene and Department of Homeless Services. He is currently the lead partner on the firm’s consulting assignment with the City of New York, Office of Management and Budget to provide technical assistance on various grant and contract topics that the City has with federal and state grantors. Joe is a graduate of St. Peter’s College with a Bachelor of Science degree in accounting. He has authored the City of Philadelphia’s Sub-Recipient Audit Guide, the Audit Guides currently in use at the U.S. National Science Foundation and the City of New York, Department For The Aging. Joe is also a Certified Fraud Examiner and has participated as either an auditor or in testimony on potential fraudulent audits and examinations. He has been called as an expert witness on various audits performed for governmental agencies which have resulted in litigation.


Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency



MARGARET S. THOMAS, CPA, MHA is an author and discussion leader for LOSCALZO ASSOCIATES LTD. Ms. Thomas is also a clinical assistant professor at the University of North Carolina at Chapel Hill where she teaches Healthcare Consulting, Healthcare Strategic Management and Financial Leadership. Ms. Thomas also works with accounting firms, performing quality control and efficiency reviews. She works with nonprofit boards on strategic planning and governance issues. From 1986 through 1999 and again in 2005, Ms. Thomas worked for Deloitte, primarily in the accounting and advisory services department. Most recently, she was Director in Deloitte Consulting in strategy and operations practice in the Atlanta office. Marci specializes in working with not-for-profit organizations including those in the healthcare and higher education

arenas. In addition to those areas she is also a nationally recognized author and speaker on OMB Circular A-133 and Governance. Ms. Thomas received her Bachelor in Business Administration with a concentration in accounting from the Georgia State University and her Masters in Health Administration at the University of North Carolina at Chapel Hill. She is a frequent speaker at local, regional and national conferences. Ms. Thomas is a member of the Not-for-Profit Committee of the North Carolina Association of CPAs. She is a reviewer of Healthcare Risk Alert published by the AICPA. She also serves on the audit committee of the Marine Conservation Biology Institute. In addition to writing numerous training manuals for Loscalzo Associates Ltd., she is co-editor and author of a book published by Jossey Bass in 2004, Essentials of Physician Practice Management. Her new book, Best of Boards: Sound Governance and Leadership for Nonprofit Organizations will be published by the AICPA in June 2011. She is presently writing a book on Health Care Strategic Management which is expected to be published by Jossey Bass in 2012.



Loscalzo’s 2012 FASB and AICPA Update Loscalzo’s Auditing Manual Utilizing the Risk-Based Audit Standards Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s Governmental Update and Major Accounting and Disclosure Issues Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency Loscalzo’s Tips on How to Review Documentation Effectively


Loscalzo’s 2012 Discussion Leaders (continued) JAMES E. WOY, CPA is a discussion leader for LOSCALZO ASSOCIATES LTD. He is a Partner in the Butte office of Anderson ZurMuehlen & Co., P.C. (AZ) with twenty-nine years of public accounting in the employee benefit and government and not-for-profit field. He is the past President of the Montana Society of CPAs. Jim also performs peer reviews throughout the country and is a instructor for the AICPA peer review program. Jim is a technical reviewer for the MSCPA Peer Review Committee. Jim has served as a member of the AICPA’s Technical Issues Committee. He is an adjunct instructor of Auditing at Montana Tech of the University of Montana, and Board member of Granite Mt. Bank, Butte. Jim is a past President of the Butte Family YMCA and the Butte Exchange Club. He enjoys running.



Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them Loscalzo’s Audits of Defined Contribution Pension Plans (Emphasizing 401k Plans) Loscalzo’s Compilation and Review Essentials - Rules for Local Practitioners Loscalzo’s Current Practice Issues and Solutions In Audits of Employee Benefit Plans Loscalzo’s Frequently Missed Issues for OMB Circular A-133 Audits Loscalzo’s Hands on Guide to Understanding and Testing Internal Control Loscalzo’s Implementation Guide to the Risk Assessment Standards Loscalzo’s Not-for-Profit Auditing Made Easy Loscalzo’s Not-for-Profit Industry Update and Major Accounting and Disclosure Issues Loscalzo’s Step by Step Guide to Compliance Auditing - A Gateway to Efficiency

2012 cpe catalog - loscalzo associates · audit specific programs ... in addition, we continue to...

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