Preparing Financial Statements Under Special Purpose Frameworks

Course Information

Title:	Preparing Financial Statements Under Special Purpose Frameworks
Category:	Accounting and Auditing
Field of Study:	Accounting
Course Code:	M316
CPE Credits:	4.0
Price:	34.95

Description

Description:

Many businesses prepare financial statements using a special purpose framework as an alternative to the complexity of U.S. GAAP. This course provides an overview of how to prepare financial statements using common special purpose frameworks such as tax basis and cash or modified cash basis financial statements. This course teaches the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example illustrative disclosures and financial statements. The course also includes common practice issues encountered when preparing SPF financial statements, including reporting and disclosure requirements. This course will also review recent updates to both SSARS and audit standards that impact engagements performed on SPF financial statements.

Delivery Method: Online Interactive Self Study

Level: Basic

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Technical Details: Accounting: Technical

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Objectives

Objectives:

An introduction to special purpose frameworks
Income tax basis financial statements
Common issues in preparing SPF financial statements
Cash basis and modified cash basis financial statements
Authoritative and nonauthoritative guidance used to prepare SPF financial statements
The AICPA’s special purpose framework – FRF for SMEsTM

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents

Profession Identifiers: CPA