Tax Basis and other Special Purpose Frameworks 26-27

Overview

GAAP has become too complex for many small and private entities. As an alternative, many entities have adopted special purpose frameworks (formerly called OCBOA). This program guides entities through the acceptable methods of non-GAAP financial statements, the advantages and disadvantages of each, and presentation of the statements and disclosures.

Highlights

• Tax basis
• Cash and modified cash
• Contractual
• Regulatory
• Financial Reporting Framework for Small and Medium sized Entities (FRF for SMEs)
• Red-flags in fraud

Prerequisites

None.

Designed For

CPAs and other financial professionals in public and private practice.

Objectives

• Determine multiple frameworks
• Understand when there is a need for special purpose frameworks (SPFs)
• Recognize how to properly present and disclose such frameworks

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).