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April 20, 2018
2:00PM - 6:00PM ET



Course Description

Generally Accepted Accounting Principles (GAAP) have become increasingly complex. While these complexities are justified in many situations, many entities find that the cost does not justify the benefits. Consequently, many entities have turned to special purpose frameworks. In this course, we will look at a variety of popular and new alternative frameworks. Instructor Jeff Sailor also discusses theories involved in choosing the best special purpose framework to fit your and your clients' needs.


Jeff Sailor, CPA

Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.

Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He’s also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He’s also a featured speaker at national conferences as well as at state and regional meetings.

For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.

Course Specifics

Jun 8, 2016

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon completion of this course, the participant will be able to:

  • Define special purpose frameworks.
  • Recognize the differences between special purpose frameworks and OCBOA.
  • Specify the purpose of general-purpose financial statements.
  • Identify what make financial statements useful.
  • Cite the authoritative guidance for special purpose frameworks.
  • Recognize the four primary categories of special purpose frameworks.
  • Decide when it would be appropriate to use a special purpose framework.
  • Apply the cash, modified cash and tax bases of accounting.
  • Restate the theory behind regulatory and contractual bases of accounting.
  • Recall the major elements of IFRS-SME.
  • Apply resources for preparing financial statements under FRF-SME.

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