Tax Practitioner's Guide to Accounting and Reporting Issues 2024

Overview

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:

Highlights

• SSARS review • FASB Update • SPF-measurement and reporting issues • Preparation, compilation and review engagements • Selected litigation issues and cases

Prerequisites

None

Designed For

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.

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

Preparation

None