OCBOA Case Studies 2024

Overview

Understanding the advantages and disadvantages of alternatives to Generally Accepted Accounting Principles (GAAP) financial statement presentations is vital to making proper client choices. For example, practitioners may seek to use the Other Comprehensive Basis of Accounting (OCBOA) financial statement presentations, as GAAP will increase complexity and the cost of compliance. Here, we’ll explore compliance with the preparation, presentation, disclosure and reporting nuances of cash- and tax-basis financial statements. We’ll also discuss the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). This course meets the specific OCBOA requirements that CPAs must meet for the re-issuance of their license.

Highlights

• Income tax-basis financial statement presentations
• Cash and modified-cash financial statement presentations
• Innovative and EBITDA type reports
• OCBOA engagements
• AICPA Financial Reporting Framework for Small- and Medium-Sized Entities

Prerequisites

None

Designed For

Accounting and financial professionals.

Objectives

• Recognize professional standards applicable for OCBOA presentations
• Determine differences in disclosure and financial statement presentations for OCBOA and GAAP
• Identify compilation, review and audit reporting requirements
• Recognize AICPA Financial Reporting Framework for Small- and Medium-Sized Entities

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).