Other Comprehensive Basis of Accounting Fundamentals | 4152308D

Date :
July 1, 2015 8:30 AM - 4:30 PM
Location :
Sacramento Area
Facility :
Hyatt Regency Sacramento
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Level of Difficulty :
Overview
Member Price :
275.00
Nonmember Price :
375.00
CPE Credits :
CPE 8.00, AA 8.00
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Many practitioners are turning to Other Comprehensive Basis of Accounting (OCBOA) financial statement presentations as the complexity of Generally Accepted Accounting Principles (GAAP) increases. Before making this change, it is important for practitioners to fully understand the advantages and disadvantages of alternatives to GAAP financial statement presentations. Gain a working knowledge of the tools necessary to properly comply with the preparation, presentation, disclosure and reporting nuances of cash- and tax-basis financial statements. Additionally, key components of the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) will be discussed.

This course meets the specific other comprehensive basis of accounting (OCBOA) requirements that CPAs are required to meet for reissuance of their license.

Objectives:

  • Recognize professional standards applicable to OCBOA presentations.
  • Identify the different disclosure requirements for preparing OCBOA and GAAP presentations.
  • Determine the differences in the performance of OCBOA and GAAP engagements.
  • Identify key differences in various examples of financial statement presentations.
  • Recognize compilation, review and audit reporting requirements.
  • Outline the key components of the AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).

Major Subjects:

  • What are OCBOA presentations, and when are they appropriate?
  • Income tax-basis financial statement presentations
  • Cash and modified-cash financial statement presentations
  • Performing OCBOA engagements
  • Reporting on cash and tax-basis financial statements
  • AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs)

Advanced Prep:

None

Misc. Information:

Pay the lowest price and save up to 60% with the CalCPA Education Foundation’s discount programs.

To ensure that all credit is properly recorded, please review your information and update your CPA, CFP, CTEC or Bar license number(s).

Level of Difficulty:
Overview
Field of Interest:
Accounting
Prerequisites:

None

Designed For:

Practitioners at all levels who are involved with the preparation of cash- and tax-basis financial statements.

Instructors

Thomas E Noce, CPA, CFE, PFP

Tom Noce is a graduate of Rutgers University with a degree in accounting. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for non-profit organizations and government related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003. In 2003, Noce opened his own practice in Palm Springs. His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners’ associations, country clubs, non-profit organizations and others. His current practice emphasis focuses on tax and accounting issues related primarily to the real estate and hospitality industries. He also performs special engagements dealing with internal controls and fraud prevention and detection. Noce has authored and taught a number of courses for the CalCPA Education Foundation and chaired its first two fraud conferences as well as two audit and accounting conferences. In 2004 and 2010 he received the Foundation’s Award for Instructor Excellence. Currently, Noce presents six courses for the Foundation in the areas of fraud, audit and accounting standards and risk-based auditing.

Materials:

  • Materials - Hardcopy Textbook
  • Materials - ebook