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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Tax Basis and Other Special Purpose Frameworks Presentations (SPF4)

4-Hour Program

WHY ATTEND THIS COURSE?

With the complexities and cost of U.S. GAAP financials, many practitioners have encouraged clients to use tax basis and other special purpose frameworks financial statements (previously OCBOA). This program will address special purpose frameworks reporting and disclosure requirements, including the AICPA interpretation and practice aid on special purpose frameworks. The tax aspects of this course have been updated to reflect the impacts of the new Tax Cuts and Jobs Act.

DESIGNED FOR...

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

OBJECTIVE

Participants will be able to:

  • Address the issues associated with special purpose frameworks presentation
  • Prepare financial statements using “an other comprehensive basis of accounting”

MAJOR SUBJECTS

  • What are the most common U.S. GAAP versus tax differences?
  • Which footnotes can be eliminated in special purpose frameworks presentations?
  • What does “communicate the substance of U.S. GAAP disclosures” mean under the AICPA interpretation?
  • Are changes needed to the body of statements when tax basis financials are presented?
  • Should tax basis statements include non-taxable and non-deductible items?
  • Can any financial statements be eliminated in a special purpose frameworks presentation?
  • How does the Tax Cuts and Jobs Act of 2017 impact tax basis financial statements?
  • What changes in presentation and disclosure are required with regards to the Tax Cuts and Jobs Act of 2017?

COURSE ACRONYM: SPF4

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Accounting

RECOMMENDED CPE CREDIT: 4 hours


NOTE: This course is available as an 8-hour and 4-hour program:

• Special Purpose Frameworks (SPF)
• Tax Basis and Other Special Purpose Frameworks Presentations (SPF4)


CPE Sponsor icon

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.