Preparing Financial Statements Under Special Purpose Frameworks (GALT)

Customer Rating
Field of Study
Accounting
Level
Basic
Credits
4
Qualifies For



Price:  $ 39.99

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.

Additional information

version

01

Credits

4

Format

On Demand

Pre-requistes:

None

Knowledge Level:

Basic

Major Topics:

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

Learning Objectives:

  • 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
  • Review the limited authoritative and non-authoritative literature covering special purpose frameworks

Designed For:

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

Customer Reviews

Based on 3 reviews
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P
Pamela N. (Wilmington, US)
Useful course

This course was very helpful and I have already found myself using what I learned to prepare, sort, and filter tables in Excel.

J
Jennifer S. (Foster, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)

L
Lauren V.D. (Montgomery Village, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)