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Small-Business Financial Statements (4152775A)
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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); cash and tax bases of accounting; other special purpose frameworks; and GAAP. This course examines the features, benefits and risks associated with the use of each of these frameworks and offers guidance for the professional judgments accountants must make when applying each. Formerly titled: Fin

6/24/2016
When: 6/24/2016
9:30 AM - 1:00 PM
Where: Webcast/Webinar
Presenter: Richard A. Ferdinand, CPA
Contact: April Deneault
801-834-6634


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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); cash and tax bases of accounting; other special purpose frameworks; and GAAP. This course examines the features, benefits and risks associated with the use of each of these frameworks and offers guidance for the professional judgments accountants must make when applying each.
Formerly titled: Financial Reporting Framework for SMEs

 

 

Objectives:

Upon completion of this course you will be able to identify:
special purpose frameworks, as well as GAAP frameworks;
the primary differences between the frameworks;
the situations in which use of each framework might be useful;
the risks to a company and its independent accountants associated with each framework; and
the ways that framework selection impacts financial statements, including disclosures, and impacts compilations and reviews.


Major Subjects:

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



Designed For:

Accountants who prepare financial statements; perform compilations, reviews or audits for small- and medium-sized businesses; and tax accountants who need to understand financial statements in connection with performing tax services.

 

Prerequisite: None

 

Advanced Prep: None

  

Speaker: Richard A. Ferdinand, CPA

Vendor: CalCPA

Field of Study: Accounting & Auditing

Level: Overview

CPE Credit: 4 Hours

Acronym: FRF

 

 

Registration Fees:

Members: $140

Nonmembers: $188

 

Meet the Speaker:

Richard A. Ferdinand, CPA, is the chief financial officer of Ensconce Data Technology, creator of the Digital Shredder, an IT appliance that erases computer hard drives beyond forensic recovery. He is a past recipient of the Outstanding Instructor Award from the AICPA and a recipient of the Education Foundation's Award for Instructor Excellence and the Meritorious Service Award.

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