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FUS831 – Tax-Basis Financial Statements

Course and Test $ 140.00
Course and Test PDF $ 115.00
Additional Hard Copy Test $  30.00
Additional Online Test $  30.00
SKU: N/A Categories: ,

CPE Credit Hours: 10NASBA Color logo-1 inch

Field of Study: Accounting & Auditing

Publication date: April 2022


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).

Updated for changes made by the Tax Cuts and Jobs Act, the CARES Act, and the Consolidated Appropriations Act, 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 and other differences, tax-basis disclosures,  reporting options for tax-basis financial statements, unusual reporting and presentation issues related to tax-basis financial statements, and an overview of other types of special purpose frameworks.

This course also addresses the presentation and disclosures for PPP loans, Employee Retention Credit (ERC) and the Pass-Through Entity (PTE) tax.

More Information

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