CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

OCBOA Fundamentals

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

Tired of the increasing complexity of GAAP? You are not alone! At an ever increasing rate, practitioners are moving their clients from traditional GAAP financial statements to Other Comprehensive Basis of Accounting (OCBOA). This course will provide you with the necessary background for you to gain the comfort needed to be in compliance with all applicable guidance related to the preparation and presentation nuances of OCBOA financial statements.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the professional standards applicable to financial statements prepared on OCBOA, noting the applicability and limitations of each of the appropriate OCBOA frameworks
  • Recognize the requirements of a pure cash basis and modified cash basis of accounting, noting the types of entities that would use each method
  • Identify the typical modifications to cash basis financial statements, including whether substantial support exists for the modification
  • Note the requirements of the income tax basis of accounting, including the treatment of special items
  • Recognize the conceptual differences between revenue and gross income as well as expenses and deductions
  • Specify the typical differences between GAAP and the income tax basis of accounting, noting the illustrative examples presented in the course materials
  • Recognize what comprises a complete set of OCBOA financial statements, noting applicable presentation and disclosure requirements

Course Specifics

Course ID
1163435VID
Revision Date
March 17, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Tom Noce Headshot
Tom Noce, CPA

Thomas Noce, CPA, CFE, has over 37 years of experience in the field of public accounting, including eight years as a partner in a midsized firm. He began his independent practice in 2003. His specific areas of experience include accounting and financial reporting, auditing, litigation support, fraud prevention and detection, business and personal financial planning, individual Indian taxation, and personal and business taxation. Thomas has been a teacher and lecturer at many events, including most recently the AICPA’s National Advanced Accounting & Auditing Technical Symposium in 2013. He has multiple publications and is a co-developer of the Risk Assessment Toolkit.

OCBOA Fundamentals

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$196.00

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

Tired of the increasing complexity of GAAP? You are not alone! At an ever increasing rate, practitioners are moving their clients from traditional GAAP financial statements to Other Comprehensive Basis of Accounting (OCBOA). This course will provide you with the necessary background for you to gain the comfort needed to be in compliance with all applicable guidance related to the preparation and presentation nuances of OCBOA financial statements.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the professional standards applicable to financial statements prepared on OCBOA, noting the applicability and limitations of each of the appropriate OCBOA frameworks
  • Recognize the requirements of a pure cash basis and modified cash basis of accounting, noting the types of entities that would use each method
  • Identify the typical modifications to cash basis financial statements, including whether substantial support exists for the modification
  • Note the requirements of the income tax basis of accounting, including the treatment of special items
  • Recognize the conceptual differences between revenue and gross income as well as expenses and deductions
  • Specify the typical differences between GAAP and the income tax basis of accounting, noting the illustrative examples presented in the course materials
  • Recognize what comprises a complete set of OCBOA financial statements, noting applicable presentation and disclosure requirements

Course Specifics

Course ID
1163435VID
Revision Date
March 17, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Tom Noce Headshot
Tom Noce, CPA

Thomas Noce, CPA, CFE, has over 37 years of experience in the field of public accounting, including eight years as a partner in a midsized firm. He began his independent practice in 2003. His specific areas of experience include accounting and financial reporting, auditing, litigation support, fraud prevention and detection, business and personal financial planning, individual Indian taxation, and personal and business taxation. Thomas has been a teacher and lecturer at many events, including most recently the AICPA’s National Advanced Accounting & Auditing Technical Symposium in 2013. He has multiple publications and is a co-developer of the Risk Assessment Toolkit.

OCBOA Fundamentals

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$196.00