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Special Purpose Frameworks: Preparing and Reporting on Cash, Modified Cash & Tax (CMCT15)
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This course provides a comprehensive review and hands-on application for preparing and reporting on financial statements using a special purpose framework (SPF). Learn the unique measurement and disclosure requirements of various SPF options, using sample financial statements and illustrative disclosures. You’ll be introduced to the AICPA’s FRF for SMEs™. The course will also guide you through SPF engagements from acceptance and planning to reporting, highlighting common practice issues.

11/3/2015
When: 11/03/2015
8:30 AM until 4:30 PM
Where: LCPA Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Curtis Quickel


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Early Bird Fees (through 10/19)
Members $289
Non-Members $389
After 10/19, add $50 to your fee.

CPE: 8 hours
Level: Basic
Vendor: Surgent McCoy CPE, LLC
Category: Accounting & Auditing
Prerequisites: None
Advanced prep: None

Who should attend: Practitioners and staff involved with the preparation of cash and tax basis financial statements

For many businesses, preparing financial statements using a special purpose framework (SPF) may provide an alternative to the complexity of U.S. GAAP. This course will provide you with a comprehensive review and hands-on application for preparing and reporting on financial statements using a special purpose framework. You will learn the unique measurement and disclosure requirements of various SPF options, using example financial statements and illustrative disclosures. You will be introduced to the AICPA’s new SPF for small and medium-sized entities: FRF for SMEsTM. The course will also guide you through SPF engagements from acceptance and planning to reporting, highlighting common practice issues.

Objectives

• Review the limited authoritative and non-authoritative literature covering special purpose frameworks
• Learn how to prepare and report on 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
• Understand SPF reporting requirements

Major Topics

• An introduction to special purpose frameworks
• The AICPA’s new special purpose framework – FRF for SMEsTM
• Authoritative and non-authoritative guidance used to prepare SPF financial statements
• Common issues in preparing SPF financial statements
• Cash basis and modified cash basis financial statements
• Income tax basis financial statements * Accepting and planning SPF financial statement engagements
• AU-C Section 800: Special Considerations–Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks
• SSARS No. 19, Compilation and Review Engagements (provisions related to SPFs)
• Common SPF peer review deficiencies seen in practice

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Certified Public Accountants

2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

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