2015CPA Exam and Wiley CPAexcel Course Updates

More tables and graphics to aid understanding

of the content and organize the information.

New lessons for content areas that are highly

tested and particularly challenging to candidates

(e.g. general purpose financial statements, ratio

analysis, investments, debt / equity impairment

testing).

More content in areas where you have the most

questions (e.g. in accrual accounting, one of many

tools used in the FAR course for maximum impact).

Deep dive lectures for lessons where candidates

struggle most with concepts and how to answer

the questions (e.g. cash to accrual accounting as

applied to the statement of cash flows indirect

method).

Private Company Council (Little GAAP)

Liquidation Basis of Accounting

Impairment: Held-for-Sale and Assets in Use (Improved)

Impairment of Debt and Equity Securities (Improved)

Discontinued Operations

Going Concern Disclosures

One less thing to worry about for the 2015 CPA

exam! ASU 2014-10, issued June 2014, effective

December 2014, no longer requires special report-

ing requirements for Development Stage Entities.

Therefore, "inception-to-date" reporting is no

longer required!

Wiley CPAexcel has enhanced 100+ FAR Bite-Size lessons:

Up-to-date content includes changes to the 2015 CPA exam:

New lesson that provides an general purpose

financial statements using Coca-Cola as an

example, tying all of the FAR lessons to one core

set of statements and examples.

Impairment lessons are broken down for each

category where required (debt and equity

investments, receivables, ppe, intangibles, and

goodwill) which increases the clarity for various

impairment tests.

More guidance on how a topic is typically tested,

including what type of questions

candidates should expect on these topics.

Primary IFRS content is now in one area, and

a summary of the general purpose financial

statements under IFRS is unified in one lesson.

OVER 9 NEW HOURS OF VIDEO*

7 new content hours for FAR

2 new content hours for AUD *

WileyCPAexcel.comWiley CPAexcel®

WileyCPAexcel.com

Updates to AUD material: Code of Professional ConductIn the summer of 2014 the AICPA promulgated a

new electronic version of the Code of

Professional Conduct. It dramatically reorganizes

the Code and presents it in a searchable, easily-up-

dated electronic format. The new version also

contains several substantive changes. The Code is

now organized largely along the roles that CPAs

play in the business world.

The vast majority of the provisions deal with the

attest work done by what the new code calls “Mem-

bers in Public Practice.” There are also guidelines

for “Members in Business,” CPAs who work in

industry, for government agencies, for NGOs and

the like. There are even new provisions for what are

called “Other Members” for CPAs who may be

between jobs or retired.

Most provisions of the new version of the

Code go into effect December 15, 2014.

However, the Code also contains a “conceptual

framework” to help members of the AICPA resolve

ethical challenges when situations arise that are not

specifically addressed by the Code.

Those provisions become effective December 15,

2015.

Overall, the substantive changes and the way the

Code is organized bring it into closer alignment

with the International Federation of Accountants

(IFAC) Code of Ethics, reflecting the increasingly

global nature of the accounting profession.

— Professor Robert A. Prentice, J.D., Wiley CPAexel

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Meet some of our outstanding faculty

Professor Pam Smith, Ph.D., CPA, MBANorthern Illinois University: KPMG Professor of Accountancy

Professor Robert A. Prentice, J.D.University of Texas, Austin: Ed and Molly Smith Centennial Professor in Business Law, McCombs School of Business

2015CPA Exam and Wiley CPAexcel Course Updates

2 NEW HOURS OF AUD CONTENT

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