Includes Practice Aids

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Find some “relief” from GAAP standards that are costly to implement and incomprehensible to financial statement users.  This program will:

• Explore alternatives that permit professional presentations that don’t cut corners but are cost efficient

• Illustrate exactly what is necessary when preparing tax, cash, or modified cash basis financial statements

• Provide hard to find report wording.

Designed For
Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, non-GAAP financial statements. 

Objective

Participants will be able to:

• Understand the issues associated with OCBOA presentation

• Prepare financial statements on an other comprehensive basis of accounting

• Prepare special purpose presentations

When is a presentation an OCBOA or a GAAP departure...  Differences between cash and modified cash... Common book vs. tax differences...  Tax basis financials - what to do with non-taxable and non-deductible items...  GAAP disclosures - which apply and which can be omitted...  Statement of cash flows - how to treat in an OCBOA presentation...  Using special purpose presentations...  Reporting considerations...  Using GAAP departures.

Presentation Method:  Lecture and group discussion of discussion questions.  The course manual contains an OCBOA disclosure checklist and pro forma financial statements and notes.

Level of Knowledge:  Basic

Prerequisites: None

Recommended CPE Credit:  8 hours

Field of Study: Accounting

Advance Preparation: None

Availability Date:  5/15/2008

Author(s):   Deborah Rose, CPA