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Tuesday, November 28, 2017 Live

Special Purpose Frameworks (E1711083)

8:30 AM - 4:30 PM EDT

Registration: 8:00 AM EDT

APA Hotel Woodbridge

120 Wood Avenue South
Iselin , NJ 08830

8 CPE Credits in AA

OVERVIEW

Find some “relief” from GAAP standards that are costly to implement and incomprehensible to financial statement users. Practitioners often use alternative frameworks, referred to as special purpose frameworks (SPFs) (formerly OCBOA). This program will explore alternatives that permit professional presentations that don’t cut corners, but are still cost efficient; illustrate exactly what is necessary when preparing tax, cash, or modified cash basis financial statements; provide hard-to-find report, presentation, and disclosure examples; and address the SSARS 21 provisions as they relate to special purpose frameworks.

DESIGNED FOR

Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, financial statements where special purpose frameworks or special purpose presentations can be beneficial.

BENEFITS

  • Address the issues unique to special purpose frameworks presentations
  • Determine when special purpose frameworks or special presentations are appropriate
  • Distinguish between circumstances when special purpose frameworks or GAAP departures are the most appropriate
  • Prepare special purpose presentations

HIGHLIGHTS

  • When a presentation is a special purpose frameworks or a GAAP departure
  • The AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs)
  • Common book versus tax differences
  • Tax basis financials — what to do with non-taxable and non-deductible items
  • Disclosure rules for SPFs
  • Statement of cash flows in SPFs
  • Using special purpose presentations
  • Contractual and regulatory frameworks
  • Using GAAP departures
  • Common special purpose frameworks deficiencies

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Rebecca Lee

Rebecca M. Lee, CPA, CGMA

Kaplan Financial Education, Powered by Loscalzo

Rebecca M. Lee, CPA, CGMA Rebecca Lee, licensed as a CPA in Alabama and South Carolina, is a founding Principal with Brooke, Freeman & Lee. She served in areas of the assurance, quality control, and compliance responsibilities for the audit practice. She has served on numerous AICPA and state society committees, including the AICPA Management Consulting Service Professional Practice Subcommittee, Small Business Consulting Practices Subcommittee, and Council of the AICPA. She has chaired both the Management Advisory Committee and the Personal Financial Planning Committee of the Alabama Society of CPAs. Rebecca currently serves on the Illinois Society of CPAs Peer Review Committee, which serves multiple state societies of CPAs. Rebecca has served as professor of management accounting in the graduate studies (Master in Public and Private Management) program at Birmingham-Southern College. Rebecca holds a BS degree in accounting from Jacksonville State University, along with a master’s degree in Accounting from Birmingham Southern College. She is a member of the Alabama Society of CPAs, the South Carolina Association of CPAs, and the AICPA.

PRICING

$399.00 - Nonmember

$299.00 - Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Loscalzo Institute