I’m in a financial reporting manager position but as an auditor didn’t have much experience with actually reading and applying guidance. Any suggestions on how I can get better at that so I can be successful at my job?

likesmarthelpful
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Hire consultants to do your job for you

likefunny

Easy shortcut is public company filing search. Even better if you have a research tool. You can usually find companies with similar situations and copy the disclosure.

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Read the guidance and then apply the guidance.

Use google to quickly narrow down what what guidance applies. Look at the list of ASCs and at least generally know what each of the standards cover. Understand what operations your companies does, what assets they hold, and how the company has money to operate. The financial statements are a summary of the financial position and results of operations so knowing all those things will help you know what ASCs to know the best.

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… you didn’t read and apply guidance on several occasions ? Which firm did you work for? That’s a hefty portion of the job

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I’ve never seen a clean client package before, must be nice

Control F Big 4 accounting guides and find illustrative examples

Yeah, read big 4 guides, and find the consensus opinion amongst the 4

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