AUT2403. A&A Update 2024

In this session we will cover both recently issued accounting and auditing guidance, and updates to previously issued guidance. The session will cover how these standards and updates will impact dealerships when considering both year-end close and year-end accounting with their external accountants and auditors. Also included will be an overview of the agendas of different standard-setting groups, including the FASB and SEC/PCAOB, and a look at recent activity by the FASB’s Private Company Council.

Learning Objectives:

• Recall recently issued accounting standards and their potential impact on dealerships.
• Identify how these recent standards, and previously issued standards, will impact accounting for your business.
• Recognize ongoing activity at relevant standard-setters that could have a future impact on dealerships.