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Other Comprehensive Basis of Accounting Fundamentals (4172308H)

 
Date:Wednesday, January 17, 2018
Time:11:30AM - 7:00 PM
(Registration at 11:00AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Accounting and Auditing
Vendor:California CPA Education Foundation
Course Level:Overview
Early Bird Price:Not applicable or see below.

Description:

Many practitioners are turning to Other Comprehensive Basis of Accounting (OCBOA) financial statement presentations as the complexity of Generally Accepted Accounting Principles (GAAP) increases. Before making this change, it is important for practitioners to understand the advantages and disadvantages of alternatives to GAAP financial statement presentations. Gain a working knowledge of the tools necessary to properly comply with the preparation, presentation, disclosure and reporting nuances of cash- and tax-basis financial statements. Additionally, key components of the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) will be discussed.

This course meets the specific OCBOA requirements that CPAs are required to meet for reissuance of their license.



Objectives:
  • Recognize professional standards applicable to OCBOA presentations.
  • Identify different disclosure requirements for preparing OCBOA and GAAP presentations.
  • Determine differences in the performance of OCBOA and GAAP engagements.
  • Identify key differences in various examples of financial statement presentations.
  • Recognize compilation, review and audit reporting requirements.
  • Outline key components of the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).


Major Topics:
  • OCBOA presentations: What and when?
  • Income tax-basis financial statement presentations.
  • Cash and modified-cash financial statement presentations.
  • OCBOA engagements.
  • Reporting on cash and tax-basis financial statements.
  • AICPA Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).


Who Should Attend:

Practitioners at all levels who are involved with the preparation of cash- and tax-basis financial statements.



Prerequisite:
None.

Advanced Preparation:
None.

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.