Tax Basis and other Special Purpose Frameworks

Overview

You could pay $0 for this course!

GAAP has become too complex for many small and private entities. As an alternative, many entities have adopted special purpose frameworks (formerly called OCBOA). This program guides entities through the acceptable methods of non-GAAP financial statements, the advantages and disadvantages of each, and presentation of the statements and disclosures. Emphasis is placed on the following frameworks:

 • Tax basis • Cash and modified cash • Contractual • Regulatory • Financial Reporting Framework for Small and Medium sized Entities (FRF for SMEs) • Red-flags in fraud

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13225. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Designed For

CPAs in public and private practice

Objectives

• To understand when there is a need for special purpose frameworks (SPFs) • To learn how to properly present and disclose such frameworks