Small-Business Financial Statements Webcast | 4202775B

Course Details

Date

Wednesday, July 15, 2020

5:30am – 9:00am
(Registration: 5:00am)

Field of Study

Accounting

Course Number

4202775B

CPE Credit

4.0 hours CPE credit

Level of Knowledge

Overview

Vendor

CalCPA Education Foundation

Prerequisites

None.

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).
Review the cash and tax bases of accounting and other special purpose frameworks. Examine GAAP frameworks. Investigate the features, benefits and risks of each framework. Guidance for professional judgments.
This course, taken with Preparing Financial Statements for Clients (PRFS), also 4 units, meets the 8-unit accounting CPE requirement for accountants who prepare financial statements, but perform no audits, reviews or compilations.

Highlights





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

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.

Designed For




Accountants, tax practitioners and financial professionals.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$150.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$201.00
Your Price $201.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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