Non-GAAP Financial Statement Options: Cash, Mod Cash & Tax Bas. [CMT4]
Subject:
Jul 17, 2023
Time: 08:30am-12:00pm
Accounting & Auditing
Time: 08:30am-12:00pm
Credit Hours:
4.00Price:
Member: $150.00
Non-member: $240.00
Discussion Leader: Randy Milligan, CPA
Full Description
Non-GAAP Financial Statement Options: Cash, Modified Cash,and Tax Basis (CMT4)
July 17th, 2023 / 8:30 am 12:00 pm
Pikes Waterfront Lodge / The Fireweed Room
1850 Hoselton Road
Fairbanks, AK 99709
For many businesses, preparing financial statements using a special purpose framework may provide an alternative to the complexity of U.S. GAAP. This course will provide you with an overview and hands-on application on preparing financial statements using common special purpose frameworks such as tax basis and cash or modified cash basis financial statements. You will learn the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example financial statements and illustrative disclosures. The course also includes common practice issues encountered when preparing SPF financial statements, including disclosure and reporting requirements. We will also review recent updates to both audit and SSARS standards that impact engagements performed on SPF financial statements.
Major Topics:
- An introduction to special purpose frameworks
- Authoritative and non-authoritative guidance used to prepare SPF financial statements
- Common issues in preparing SPF financial statements
- Cash basis and modified cash basis financial statements
- Income tax basis financial statements
- The AICPA's special purpose framework - FRF for SMEs
Learning Objectives:
- Review the limited authoritative and non-authoritative literature covering special purpose frameworks
- Learn how to prepare SPF financial statements using the cash, modified cash, and tax basis of accounting
- Be aware of SPF accounting and presentation issues
- Review the disclosure requirements for SPF financial statements
Designed For: Practitioners and staff involved with the preparation of cash and tax basis financial statements
CPE Credits: 4, Accounting & Auditing
Level of Knowledge: Basic
Prerequisite: None
Acronym: CMT4
Discussion Leader: Randy Milligan, CPA