Walter Haig's GAAP for SMEs, Tax & Cash Frameworks Update

Overview

This course provides an update of the recent changes that have occurred in the financial reporting frameworks commonly used by small and medium-sized entities (SMEs). Troublesome areas in these financial reporting frameworks as identified in peer reviews and litigation will be highlighted. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

None

Objectives

After attending this presentation you will be able to...

• Identify common mistakes in the preparation of financial statements for small- and medium-sized entities
• Handle common principle departures in the financial statements of small- and medium-sized entities
• Recall common footnote disclosures in small- and medium-sized entities
• Recognize the new lease accounting standard implementation issues

Highlights

The major topics that will be covered in this class include:

• 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 financial statements as identified in peer reviews and in litigation