Surgent's Non-GAAP Financial Statement Options: Cash, Modified Cash, and Tax Basis - Download

Overview

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

Highlights

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

Prerequisites

None

Designed For

Practitioners and staff involved with the preparation of cash and tax basis financial statements

Objectives

Review the limited authoritative and non-authoritative literature covering special purpose frameworks
Learn how to prepare SPF financial statements using the cash, modified cash, and tax basis of accounting
Be aware of SPF accounting and presentation issues
Review the disclosure requirements for SPF financial statements