ACPEN: Viewing A&A Through the Eyes of a Tax Practitioner

Overview

This session offers insight for tax practitioners beyond merely checking a box to satisfy accounting and auditing requirements for license renewal. We devote significant attention to extracting utility from financial statements to support decision needs of both external financial statement users and internal stakeholders. We explore best practices for cross-functional support within firms that perform tax, accounting solutions, financial statement, and consulting services. We also highlight similarities and differences between U.S. GAAP and tax-basis accounting.

Highlights

• The role of financial reporting for a myriad of users
• Fundamentals concepts
• Special Purpose Frameworks
• Financial statement analysis
• Cross-functional collaboration

Prerequisites

Basic working knowledge of financial statement reporting

Designed For

CPAs in public practice and members in industry

Objectives

• Recall fundamental concepts regarding external financial reporting
• Identify potential financial reporting frameworks
• Recognize major differences and similarities among United States GAAP, tax-basis accounting, and other special-purpose frameworks

Preparation

None