Preparing Financial Statements Under Special Purpose Frameworks (GALT)

Pre-requistes:

Knowledge Level:

Major Topics:

• The AICPA’s new special purpose framework – FRF for SMEs^TM
• 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: