OCBOA & Special Purpose Frameworks: Something Old, Something New (Completed)
Date: Tuesday, February 28, 2017
Instructor: Pat Patterson
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
The presentation will be about the other comprehensive basis of accounting (OCBOA) for accounting engagements. The review will include the following basis of accounting for accrual, tax, cash, liquidation, and any related updates for these engagements. Further, the AICPA’s new OCBOA, Financial Reporting Framework for Small and Medium Sized Entities (FRF for SMEs) will be compared to the tax basis of accounting and GAAP. The participants will hear about new FASB pronouncements that may impact OCBOA and the impact of International Financial Reporting Standards (IFRSs) on OCBOA.
Who Should Attend
CPAs with an interest in private company accounting and auditing issues involving OCBOA, including those in public practice, management and accounting; professional employees in industry; officers, board members; and professionals with an interest for clients, friends or employers.
Topics Covered
- Accrual, tax, cash, modified cash, liquidation, estimated value basis and other bases of accounting
- AU-C 800 for audits of OCBOA financials
- Reporting issues and OCBOA
- Engagement Letter issues
- Disclosures for OCBOA
- Preparation Services and OCBOA
- Documentation for OCBOA
- The AICPA's FRF for SMEs
Learning Objectives
- Identify the new FASB pronouncements that may impact OCBOA
- Identify the impact of International Financial Reporting Standards (IFRSs) on OCBOA
- Prepare, compile, and audit financial statements using OCBOA
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic knowledge of OCBOA.
Advance Preparation
None
