Course ID: SPF4

Tax Basis and Other Special Purpose Frameworks Presentations

With the complexities and cost of U.S. GAAP financials, many practitioners have encouraged clients to use tax basis and other special purpose frameworks financial statements (previously OCBOA). This program will address special purpose frameworks reporting and disclosure requirements, including the AICPA interpretation and practice aid on special purpose frameworks.


LEARNING OBJECTIVES
  • Participants will be able to:
  • Address the issues associated with special purpose frameworks presentation
  • Prepare financial statements using “an other comprehensive basis of accounting”

MAJOR TOPICS
  • What are the most common U.S. GAAP versus tax differences?
  • Which footnotes can be eliminated in special purpose frameworks presentations?
  • What does “communicate the substance of U.S. GAAP disclosures” mean under the AICPA interpretation?
  • Are changes needed to the body of statements when tax basis financials are presented?
  • Should tax basis statements include non-taxable and non-deductible items?
  • Can any financial statements be eliminated in a special purpose frameworks presentation?

DESIGNED FOR
Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, non-U.S. GAAP financial statements.

FIELD OF STUDY
Accounting

PREREQUISITES
None

COURSE PRODUCER
Loscalzo Associates

CPE CREDITS
4.0

LEVEL
Basic

This course is available for your group as:

Group Live
 

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