Preparing Tax Basis Financial Statements: A Private Company GAAP Alternative (CL4TBS)

Bismarck Ramkota - 6/22/2010
4 CPE Hours
$135 Member ($165 Nonmember)
Add $25 after 6/8/2010

Instructor: William Eskin

The most frequent application of OCBOA is to prepare tax basis statements for tax entities. This course is a great way to brush up on the current standards and identify key issues in preparing and reporting on tax basis financial statements. The course covers the whole spectrum of tax basis financial statements: accounting, financial statements, and disclosures.  Special tax entities (S Corps and partnerships) are also examined.  At last, an accounting course even a tax practitioner can love!

Upon completion of this course, participants will be able to:  

• Identify the requirements to produce tax basis financial statements in conformity with all applicable current professional standards

Highlights:

• Discussions of practice issues among experienced practitioners
• Tax basis versus GAAP: financial reporting issues
• Financial statement presentation issues
• Tax basis financial statement disclosures
• Solutions to the challenges posed by sole proprietors, S Corps, partnerships, and other tax entities

Designed For: Corporate accountants as well as public auditors and tax staff preparing and reporting on tax basis financial statements
Level: Intermediate
Developer: AICPA
Prerequisite: Experience in financial statement preparation and/or tax returns. Previous OCBOA experience is helpful