A Tax Practitioner’s Guide to Accounting and Reporting Issues

*Covers FIN 48*

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Meet your A&A CPE requirement with topics that relate to your responsibilities.  You will:

• Learn why a tax return and a tax basis financial statement are not the same

• Learn what book versus tax differences need to be disclosed in tax basis financial statements

• Address frequently encountered accounting and performance issues by tax practitioners. 

Designed For
Tax practitioners who are associated with compiled or reviewed GAAP and tax basis financial statements. 

Objective
Participants will be able to:

• Identify differences between GAAP requirements and the tax return

• Recognize problems in compilations and reviews

• Understand the provisions of recent accounting pronouncements

Highlights new and troublesome issues for those tax practitioners who are responsible for issuing compilation and review reports… Examination of book versus tax differences… Changes needed to the body of the statements when tax basis financials are presented… Tax basis financials - what disclosures are really necessary… Revised FASB 109 requirements, including uncertain tax positions (FIN 48) and FSP FIN 48-1… Problems and issues in compilations and reviews, including an update of SSARS 16 and 17 and other recent SSARS standards and interpretations...  Overview of recent accounting pronouncements.

Presentation Method: Lecture and group discussion of questions.

Level of Knowledge:  Basic

Prerequisites: None

Recommended CPE Credit:  Accounting - 5 hrs and Auditing – 3 hrs

Field of Study:  Accounting and Auditing

Advance Preparation: None

Availability Date:  06/01/2008

Author(s): William Loscalzo, CPA