Small-Business Financial Statements 2023
Available Until
Self-study
4.00 Credits
Member Price $99.00
Non-Member Price $129.00
Overview
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). You’ll review the cash and tax bases of accounting and other special-purpose frameworks. The features, benefits and risks of each framework will be covered, and guidance for professional judgments. This course, taken with the 4-hour Preparing Financial Statements for Clients (PRFS), meets the 8-hour accounting CPE requirement for accountants who prepare financial statements but perform no audits, reviews or compilations.
Highlights
- 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
Objectives
- Identify the special purpose and GAAP frameworks
- Determine primary differences between the frameworks
- Recognize situations in which the use of each framework might be useful
- Identify the risks to a company and its independent accountants associated with each framework
- Recognize ways that framework selection impacts financial statements, including disclosures, and impacts compilations and reviews
Notice
This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.
Non-Member Price $129.00
Member Price $99.00