CPE Credit Hours: 10
Field of Study: Accounting & Auditing
Publication date: April 2023
The objective of this course is to discuss the general rules and applications used in the preparation of and reporting on tax-basis financial statements, and other bases of accounting found within the special purpose frameworks (also referred to as “other comprehensive bases of accounting”).
Topics include an overview of the types of special purpose frameworks, advantages and disadvantages of using tax-basis financial statements, tax-basis accrual versus cash basis, reviewing the key differences between GAAP and tax-basis revenue and expenses, tax-basis disclosures, reporting options for tax-basis financial statements, unusual reporting and presentation issues related to tax-basis financial statements, and more.
The course also addresses the presentation and disclosures for PPP loans, Employee Retention Credit (ERC), the Pass-Through Entity (PTE) tax, and leases.
This is a self-study CPE course.
Program level: Overview
Prerequisites: General understanding of U.S. GAAP, compilation and review and auditing standards, and federal income taxation
Advanced Preparation: None Required
Minimum Final Examination Passing Grade: 70%
Maximum Time Allowed To Complete Program: One Year From Date Of Purchase
