Small-Business Financial Statements Webcast | 4202775D

Date :
December 3, 2020 8:30 AM - 12:00 PM
Location :
Virtual Learning+
Facility :
Webcast Rebroadcast
Level of Difficulty :
Overview
Member Price :
149.00
Nonmember Price :
199.00
CPE Credits :
CPE 4.00, AA 4.00
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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).

Review the cash and tax bases of accounting and other special purpose frameworks. Examine GAAP frameworks. Investigate the features, benefits and risks of each framework. Guidance for professional judgments.

This course, taken with Preparing Financial Statements for Clients (PRFS), also 4 units, meets the 8-unit accounting CPE requirement for accountants who prepare financial statements, but perform no audits, reviews or compilations.

Objectives:

  • Identify special purpose and GAAP frameworks.
  • Determine primary differences between the frameworks.
  • Recognize situations in which 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.

Major Subjects:

  • 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 
  • Compilation, review and audit reports

Advanced Prep:

None.

Misc. Information:

N/A
Level of Difficulty:
Overview
Field of Interest:
Accounting
Prerequisites:

None.

Designed For:

Accountants, tax practitioners and financial professionals.

Instructors

Richard Alan Ferdinand, CPA
Rich Ferdinand specializes in providing financial and general management services to the small and medium sized business market (SMBs). Mr. Ferdinand has served as Chief Financial Officer ranging from full time, interim or on a consulting basis for companies in various industries that are either early stage or mature, as well as requiring turnaround assistance. He is a past recipient of the Outstanding Instructor Award from the AICPA and a recipient of the Education Foundation's Award for Instructor Excellence and the Meritorious Service Award. He has previously taught part time at UCLA in the undergraduate and graduate business programs. Mr. Ferdinand is a licensed CPA in California and was formerly with Deloitte & Touche in Los Angeles. A native of NJ, Mr. Ferdinand graduated from Colgate University and received his MBA from the University of Chicago. He currently resides in New Hampshire with his wife and two daughters.

Materials:

  • Materials - ebook