CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

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NOTE:

  • New Federal Tax Update customers will get an immediate email with a coupon code for the free course once their Tax Update purchase is complete.
  • Current Customers that purchased the Premium, Plus, or Core (Total Value Package) 2021 Federal Tax Update will get an email with a coupon code to get the Tax Advisory Complement Bundle for free.

Special Purpose Frameworks - The Alternative to GAAP

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
3 Credits: Accounting

Course Description

Generally Accepted Accounting Principles (GAAP) has become increasingly complex due to the changing environment. While this complexity is justified in many situations, many entities find that the cost does not justify the benefits. As a result, many entities turn to Special Purpose Frameworks. In this course we will look at the most popular alternative frameworks as well as some new and other interesting frameworks. We’ll also spend time on the theory that should go into your decision- making when deciding to use a Special Purpose Framework.

Learning Objectives

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

  • Define Special Purpose Frameworks and provide examples.
  • Explain the differences between Special Purpose Frameworks and OCBOA.
  • Explain the purpose of general-purpose financial statements.
  • Explain what make financial statements useful.
  • Apply a methodology for deciding on footnotes for a Special Purpose Framework.
  • Cite the authoritative guidance for Special Purpose Frameworks.
  • Define 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.
  • Explain the theory behind regulatory and contractual bases of accounting.
  • Explain the major elements of IFRS-SME.
  • Explain the major elements of FRF-SME.
  • Apply resources for preparing financial statements under FRF-SME.

Course Specifics

Course ID
WC1120225427
Prerequisites

Basic Accounting

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Jeff Sailor Headshot
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 …

Jeff Sailor, CPA Read More »

Special Purpose Frameworks - The Alternative to GAAP

Expert Instructors
CPE CREDITS
3 Credits: Accounting

$147.00


Webcasts are available for viewing Monday – Saturday, 8am – 10pm ET.
This webcast is 3 hours in length so you must start it before 07:00 pm ET.
Start within 11 hour(s) and 22 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
3 Credits: Accounting

Course Description

Generally Accepted Accounting Principles (GAAP) has become increasingly complex due to the changing environment. While this complexity is justified in many situations, many entities find that the cost does not justify the benefits. As a result, many entities turn to Special Purpose Frameworks. In this course we will look at the most popular alternative frameworks as well as some new and other interesting frameworks. We’ll also spend time on the theory that should go into your decision- making when deciding to use a Special Purpose Framework.

Learning Objectives

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

  • Define Special Purpose Frameworks and provide examples.
  • Explain the differences between Special Purpose Frameworks and OCBOA.
  • Explain the purpose of general-purpose financial statements.
  • Explain what make financial statements useful.
  • Apply a methodology for deciding on footnotes for a Special Purpose Framework.
  • Cite the authoritative guidance for Special Purpose Frameworks.
  • Define 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.
  • Explain the theory behind regulatory and contractual bases of accounting.
  • Explain the major elements of IFRS-SME.
  • Explain the major elements of FRF-SME.
  • Apply resources for preparing financial statements under FRF-SME.

Course Specifics

Course ID
WC1120225427
Prerequisites

Basic Accounting

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Jeff Sailor Headshot
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 …

Jeff Sailor, CPA Read More »

Special Purpose Frameworks - The Alternative to GAAP

Expert Instructors
CPE CREDITS
3 Credits: Accounting

Webcasts are available for viewing Monday – Saturday, 8am – 10pm ET.
This webcast is 3 hours in length so you must start it before 07:00 pm ET.
Start within 11 hour(s) and 22 minutes to watch today.

$147.00