Small-Business Financial Statements Webinar

• Identify special purpose and GAAP frameworks.
• Determine primary differences between the frameworks.
• Recognize situations in which use of each framework might be useful.
• Identify the risks to a company and its independent accountants associated with each framework.
• Recognize ways that framework selection impacts financial statements, including disclosures, and impacts compilations and reviews.

• Special purpose frameworks vs. GAAP
• AICPA's Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs)
• Cash and tax bases of accounting
• Other comprehensive basis of accounting (OCBOA)
• Revenue recognition
• Accounting methods
• Financial statements
• Disclosures 
• Compilation, review and audit reports