Many entities prepare their financial statements using non-GAAP frameworks, such as tax and cash basis. Participants who attend this course will learn the unique reporting and disclosure requirements when preparing non-GAAP financial statements commonly referred to as special purpose frameworks (SPFs) or other comprehensive basis of accounting (OCBOA) financial statements.
Learning Objectives
Recognize the various types of special purpose frameworks Identify the key differences between GAAP and SPF financial statements Recall unique SPF reporting and disclosure requirements and avoid common errors Recognize the impact SPFs have on each engagement performed in accordance with American Institute of Certified Public Accountants'(AICPA) standards Identify peer review matters involving SPFs as described in the most recent AICPA's Peer Review Oversight Report
Major Topics
OCBOA financial statements Cash and Modified Cash Basis Tax Basis Unique Reporting and Disclosure Requirements Frequent Peer Review Matters
