Haig’s Financial Reporting Frameworks Used by SMEs Update

Overview

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This course includes an analysis of all of the relevant authoritative pronouncements that a CPA must have an understanding of in order to properly perform preparation, compilation and review engagements. Troublesome areas as identified in peer reviews and litigation will be addressed.

Delivery Method: Group-live
CPE Credit: Accounting, Auditing
Program Level: Intermediate

Highlights

• Amendments to the U.S. Accounting Standards Codification (i.e. – U.S. GAAP) issued during the 18-month 
period prior to the program that impact SMEs
• Update and review of the tax and cash special purpose frameworks
• Update and review of the AICPA Financial Reporting Framework for SMEs
• Update on common errors and deficiencies as identified in peer reviews and in litigation

Prerequisites

None

Designed For

Practitioners in private business and public accounting who need to update their knowledge of the accounting standards issued during the past year that affect the preparation of financial statements of small- and medium-sized entities and who need to become aware of and learn how to handle common financial statement deficiencies.

Objectives

To obtain an update and review of the financial reporting frameworks commonly used by small- and medium-sized entities (SMEs); namely, the U.S. GAAP Financial Reporting Framework principles that apply to SMEs, the tax and cash special purpose frameworks, and the AICPA Financial Reporting Framework for SMEs. Troublesome areas in these financial reporting frameworks as identified in peer reviews and litigation will be highlighted.

Preparation

None