Non-GAAP Financial Statement Options: Cash, Modified Cash, and Tax Basis

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.

Designed For

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

Major Topics

• 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 SMEsTM

Learning 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

Prerequisites

None

Advanced Preparation

None

Level of Knowledge

Basic

Instructional Delivery Method

Group Internet Based

CPE Credit

Participants will earn 4.0 CPE credits

Field of Study

Accounting

Registration Requirement

Pre-registration is required for this event. To register, please visit our website at tx.cpa or contact our office at 800.428.0272. To receive the full CPE credit hours, you must be logged in and engaged for the duration of the program. Late arrivals and/or early departures will be captured by the submission of participant codes within the attendance monitoring application within the webinar broadcasting application.

Refunds and Cancellations

Registration changes can be made by calling 800-428-0272 or 972-687-8500 (option 2) or by emailing learning@tx.cpa. No shows forfeit the entire registration fee.

Cancellations for in-person conferences and events received at least 10 business days prior to the start of the event are eligible for a full refund. Cancellations received less than 10 business days prior to the start of the program are subject to a 50% cancellation fee due to facility, food and beverage fees being incurred.

Cancellations for webinars, webcasts, and online programs received at least five business days prior to the start of the program will be eligible for a full refund. Cancellations received less than five business days in advance of the program are subject to a 25% cancellation fee.

The Texas Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.