Mobile Edition


Small-Business Financial Statements (4172775D)

 
Date:Thursday, December 14, 2017
Time:11:30AM - 3:00 PM
(Registration at 11:00AM)
Facility:Webcast or Webinar, Online
CPE Credit:4.0 Accounting and Auditing
Instructor: Richard A. Ferdinand
Vendor:California CPA Education Foundation
Course Level:Overview
Early Bird Price:$120.00 FICPA Members, $180.00 Non-Members

Description:

Examine the bases of accounting available to small- and medium-sized privately owned businesses, including the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs); cash and tax bases of accounting; other special purpose frameworks; and GAAP. This course examines the features, benefits and risks associated with the use of each of these frameworks and offers guidance for the professional judgments accountants must make when applying each.

Formerly titled: Financial Reporting Framework for SMEs



Objectives:
  • Identify special purpose and GAAP frameworks.
  • Determine primary differences between the frameworks.
  • Recognize situations in which use of each framework might be useful.
  • Identify the risks to a company and its independent accountants associated with each framework.
  • Recognize ways that framework selection impacts financial statements, including disclosures, and impacts compilations and reviews.


Major Topics:
  • Special purpose frameworks vs. GAAP
  • AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs)
  • Cash and tax bases of accounting
  • Other comprehensive basis of accounting (OCBOA)
  • Revenue recognition
  • Accounting methods
  • Financial statements
  • Disclosures 
  • Compilation, review and audit reports


Who Should Attend:

Accountants who prepare financial statements or perform compilations, reviews or audits for small- and medium-sized businesses; tax accountants who need to understand financial statements in connection with performing tax services.



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.