This course approaches financial statement preparation and review from a tax practitioner's perspective. Often tax motivated clients have different needs concerning financial statements. Topics in the program are:
Target Audience
Accounting and financial professionals who are involved with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. and may also be suitable for public practice.
Course Objectives
Identify differences between U.S. GAAP requirements and the tax return
Recognize problems in performance and documenting of preparations, compilations, and reviews
Apply accounting standards and appropriate disclosure
Be able to compare and contrast tax returns and tax basis financial statements
Know US GAAP versus tax differences and disclosure requirements
Tax and other special purpose financial statement frameworks
Reporting requirements for SSARS engagements
Recent changes to GAAP that affect closely held businesses
Frequently encountered reporting and performance issues by tax practitioners
