WHY ATTEND THIS COURSE?
This 4-hour program is designed to update participants on this AICPA initiative to create an alternative to U.S. GAAP for private reporting entities. This initiative represents a standalone, self-contained special purpose framework (SPF) intended for use by privately-held entities in preparing their financial statements. We will discuss the components of the framework, how it differs from existing U.S. GAAP and income tax basis, choices that are available within the framework, as well as illustrate financial statement formats based on the framework.
CPAs in public practice and industry who prepare or report on private company financial statements.
Participants will be able to develop a comprehensive understanding and awareness of the AICPA’s private company financial reporting initiative.
Accounting and disclosure issues associated with private entities.
COURSE ACRONYM: FRF4
PRESENTATION METHOD: Group-live
LEVEL OF KNOWLEDGE: Basic
ADVANCE PREPARATION: None
FIELD OF STUDY: Accounting
RECOMMENDED CPE CREDIT: 4 hours
SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.