Vermont Society of Certified Public Accountants

Courses

Loscalzo's Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP

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Member Price: $300.00 Non-Member Price: $450.00

Date/Time:: Dec 14, 2010, 8:30am–4:30pm
Venue:: Capitol Plaza Hotel & Conference Center, Montpelier
Developer:: Loscalzo Associates
CPE Credits:: 8 Hours
Field of Study:: Accounting
Level:: Basic
Instructor:: Jack Ellovich, CPA

Find some “relief” from GAAP standards that are costly to implement and incomprehensible to financial statement users. This program will:

· Explore alternatives that permit professional presentations that don’t cut corners but are cost efficient

· Illustrate exactly what is necessary when preparing tax, cash, or modified cash basis financial statements

· Provide hard to find report, presentations and disclosure examples

· Address the new SSARS 19 provisions as they relate to OCBOA

Objective:

Participants will be able to:

· Address the issues unique to OCBOA presentations

· Determine when OCBOA or special presentations are appropriate

· Distinguish between circumstances when OCBOA or GAAP departures are the most appropriate

· Prepare financial statements on an other comprehensive basis of accounting

· Prepare special purpose presentations

Major Subjects:

When is a presentation an OCBOA or a GAAP departure...
Differences between cash and modified cash...
Common book vs. tax differences...
Tax basis financials – what to do with non-taxable and non-deductible items...
GAAP disclosures – which apply and which can be omitted...
Statement of cash flows – how to treat in an OCBOA presentation...
Using special purpose presentations...
Reporting considerations...
Using GAAP departures…
Practice aid on OCBOA

Who Should Attend? Practitioners in public practice and CPAs in industry who are responsible for the preparation of non-public, financial statements where OCBOA or special presentations can be beneficial.

Participant Comments

“Manual set up to be used as a reference guide. I appreciate that.” “Real life experience/stories were a great addition to the course.” “The course material appears to be excellent and a good future resource.” “Excellent presentation on FIN 46(R) – I actually understood it! Great explanation on OCBOA statements and SSARS 8.” “Very good program – learned a lot.” “Materials are exemplary! Very well done. Lots of example verbiage for the various cases.” “Enjoyed the presentation – very useful.” “Good program that covered real world uses of OCBOA.”