OCBOA Case Studies 2024

Overview

Understanding the advantages and disadvantages of alternatives to Generally Accepted Accounting Principles (GAAP) financial statement presentations is vital to making proper client choices. For example, practitioners may seek to use the Other Comprehensive Basis of Accounting (OCBOA) financial statement presentations, as GAAP will increase complexity and the cost of compliance. Here, we’ll explore compliance with the preparation, presentation, disclosure and reporting nuances of cash- and tax-basis financial statements. We’ll also discuss the AICPA’s Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). This course meets the specific OCBOA requirements that CPAs must meet for the re-issuance of their license.

Highlights

• Income tax-basis financial statement presentations
• Cash and modified-cash financial statement presentations
• Innovative and EBITDA type reports
• OCBOA engagements
• AICPA Financial Reporting Framework for Small- and Medium-Sized Entities

Prerequisites

None

Designed For

Accounting and financial professionals.

Objectives

• Recognize professional standards applicable for OCBOA presentations
• Determine differences in disclosure and financial statement presentations for OCBOA and GAAP
• Identify compilation, review and audit reporting requirements
• Recognize AICPA Financial Reporting Framework for Small- and Medium-Sized Entities

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.