Non-GAAP Financial Statement Options: Cash, Modified Cash, and Tax Basis

Description

For many businesses, preparing financial statements using a special purpose framework may provide an alternative to the complexity of U.S. GAAP. This course will provide you with an overview and hands-on application on preparing financial statements using common special purpose frameworks such as tax basis and cash or modified cash basis financial statements. You will learn the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example financial statements and illustrative disclosures. The course also includes common practice issues encountered when preparing SPF financial statements, including disclosure and reporting requirements. We will also review recent updates to both audit and SSARS standards that impact engagements performed on SPF financial statements.

Highlights

An introduction to special purpose frameworks 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 The AICPA's special purpose framework - FRF for SMEsTM

Objectives

Review the limited authoritative and non-authoritative literature covering special purpose frameworks Learn how to prepare 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

Designed For

Practitioners and staff involved with the preparation of cash and tax basis financial statements

Leaders

R Wells

Robert Wayne Wells, CPA, CFE Blankenship CPA Group, PLLC/Brentwood, Tennessee

Robert Wayne Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science Degree in Accounting and Economics.

Mr. Wells began his career in public accounting in 1970 with the national firm of what was then Touche, Ross & Co. in Nashville, Tennessee.

In 1974, he joined a local firm in Nashville. This firm provided accounting, auditing, fraud investigations, and tax services to small and medium size businesses as well as extensive tax services to individuals. After a total of over 45 years experience, he is today a Principal with Blankenship CPA Group, PLLC in Brentwood, Tennessee.

Mr. Wells annually instructs numerous continuing education seminars and in-firm training classes all over the US for the major continuing education providers in the areas of accounting, auditing, fraud, and taxation. Mr. Wells is a recipient of the 2013 Outstanding Discussion Leader Award presented by the Tennessee Society of Certified Public Accountants and the 2014 Outstanding Discussion Leader Award presented by the American Institute of Certified Public Accountants.

Mr. Wells holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the AICPA and the Association of Certified Fraud Examiners.