For many businesses, preparing financial statements using a special purpose framework may provide an alternative to the complexity of U.S. GAAP. This course will provide you with an overview and hands-on application on preparing financial statements using common special purpose frameworks such as tax basis and cash or modified cash basis financial statements. You will learn the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example financial statements and illustrative disclosures. The course also includes common practice issues encountered when preparing SPF financial statements, including disclosure and reporting requirements. We will also review recent updates to both audit and SSARS standards that impact engagements performed on SPF financial statements.

Learning Objectives:

- Review the limited authoritative and non-authoritative literature covering special purpose frameworks

- Learn how to prepare SPF financial statements using the cash, modified cash, and tax basis of accounting

- Be aware of SPF accounting and presentation issues

- Review the disclosure requirements for SPF financial statements

Major Topics:

- An introduction to special purpose frameworks

- Authoritative and non-authoritative guidance used to prepare SPF financial statements

- Common issues in preparing SPF financial statements

- Cash basis and modified cash basis financial statements

- Income tax basis financial statements

- The AICPA's new special purpose framework – FRF for SMEsTM

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.

Surveys show that the average North American company completes its monthly financial statement closing in six days. However, some companies can close their books in one day or less. You don’t have to sacrifice accuracy for speed. This session will show you how to close month-end faster, better and cheaper. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

• Trends in financial statement closings including the Quick Close, Soft Close and Virtual Close
• Review and discuss information systems’ headaches that slow you down
• Work through examples of close cycle “time killers” and how to resolve them
• Get inventory and cost of sales under control
• Identify the improvement projects that will yield the biggest benefit
• Review what leading edge finance managers are doing to close more quickly

Who will benefit: Corporate Financial Managers

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

This course provides tools and insights into financial statement analysis - both quantitative and qualitative. We'll look not only at the three main financial statements but also dive into the MD&A and footnotes. We'll also discuss the affect of industry nuances on comparability of different analysis tools. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics that will be covered in this class include:

• Balance sheet analysis
• Income statement analysis
• Cash flow statement analysis
• Clues in the notes and MD&A
• Industry nuances

Who will benefit: Anyone with a basic understanding of financial statements

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

Just about every company, no matter its size or the types of activities it undertakes, is at greater risk because of all the types of fraud that can be be carried out electronically. Potential perpetrators can be operating internally or externally and the scope of the damage that occurs is almost never limited to cyber-assets. While threat awareness is improving, there are still too many owners or top level executives that underestimate the scale of the issue. In this session, we delve into the types and the nature of many electronic defalcation schemes. The material then explores measures that organizations can implement to help stop these activities and add additional layers of security. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics covered in this course include:

• The actuation of online and other cyber frauds
• Fraudulent acts that are initiated electronically
• Automated and employee driven methods that can reduce cyber-fraud risk

Who will benefit: Accounting and other business professionals with a need to understand online fraud.

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

Every business will be sold eventually. When you have built a great business and decide to move on, you want the most you can get for that terrific organization! What are the steps to take to maximize the value realized? What do buyers really want? What are the three levers to achieve maximum value? If you want top dollar, preparing to sell takes years of planning. This course helps CEOs, entrepreneurs, CFOs, Board members, controllers, and their advisors prepare for a successful sale of the organization to maximize shareholder value. We will outline the process to get the most bang for the buck. Proper exit planning demands planning and time.

The major topics covered in this class include:

• What buyers really want
• Steps to take so the business will be attractive
• The process to prepare for a sale: steps and timing
• Pitfalls to avoid
• The value of a strong advisory team
• Key considerations

Who will benefit: CEOs, Corporate Financial Leaders, business owners, Corporate Financial Managers, entrepreneurs, CFOs, Controllers, CPAs, Accountants, Board members, advisors, Consultants and the professionals who advise them, CPAs in public. Professionals involved with an organization that may be sold.

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

Construction accounting is not just about revenue 

Although contract accounting deals with revenue, the other items on the financial statements are just as important and they should not be neglected. There are also items that may not be on financial statements, but do have an effect on the day-to-day operations.

While working with contractors, you'll probably come across surety bonds. When a project owner works with contractors, a surety bond gives the project owner a financial guarantee the work of the contractor will be done according to the contract.

In this webcast, you'll
- Listen to a detailed discussion of the contractor environment and the players in the industry
- Review how costs are allocated
- Learn a revised set of illustrative financial statements and footnotes
- Understand what it means to work with a surety

Learning Objectives:
· Identify techniques to provide efficient, high-quality audit and accounting services to construction clients.
· Recall up-to-date GAAP accounting methods applicable to construction contractors.
· Recall the demands of a surety and how a surety helps the contractor and the owner.
· Select the proper form and content for the revised auditor’s report.

Who will benefit:
· Accountants of all abilities who work with construction clients

THIS IS AN AICPA HOSTED WEBCAST. YOU WILL LAUNCH THE COURSE FROM YOUR OSCPA LEARNING CENTER. AICPA WILL ISSUE AND MAINTAIN YOUR CREDITS. PLEASE MAKE SURE TO DOWNLOAD YOUR CPE CERTIFICATE FROM AICPA WEBCAST PORTAL AT THE CONCLUSION OF THE WEBCAST.

Financial statement disclosures are important to provide the information necessary for financial statement users to make economic decisions. Disclosures further explain and clarify information provided in the basic financial statements, but also provide critical information about subsequent events, litigation risk, and other concerns. This course focuses on the most common financial statement disclosures for small- or medium-sized nonpublic entities. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics covered in this class include:

• General disclosures about the entity and its environment
• Common critical information useful to financial statement readers for making economic decisions
• Explain results of operations through information that supplements the face financial statements

Who will benefit: Accountants at all levels interested in remaining current with accounting and financial reporting requirements

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

This course explores the FASB codification provisions and AICPA financial reporting framework for transaction with related parties, including business owners and special purpose entities. Real-life examples are used to illustrate the various authoritative standards and discuss the consequences of failing to comply. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics covered in this class include:

• FASB codification provisions for transactions with related parties, including business owners and special purpose entities.
• Compare and contrast those rules with the AICPA financial reporting framework for small and medium-sized entities.
• Review the tax accounting related taxpayer standards.
• Real-life examples applying the various authoritative standards. Consequences of failing to comply with the standards.

Who will benefit: CPAs working in public accounting firms and members in industry.

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

Fraud in the workplace is not new, however, statistics show that the number of instances of internally actuated fraud schemes is increasing. Additionally, because of all the changes that have come about due to recent upheaval, fraud risk is at an all-time high. This session starts by reviewing the many reasons that fraud occurs; it then looks at ways to detect internal fraud and finally explores control measures that can help to reduce fraud risk. Those that take the class will learn just how invasive and damaging internal fraud can be. They will also know ways to detect and thwart fraudulent activity. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Major topics covered in this course include:

• Recognize why internal fraud occurs
• Policies, procedures, and control measures designed to fight fraud

Who will benefit: Accounting/business professionals that need to learn more about internal fraud.

THIS WEBCAST IS HOSTED ON CPA CROSSINGS PLATFORM. ATTENDEES WILL RECEIVE INSTRUCTIONS ON HOW TO ATTEND THE WEBCAST VIA E-MAIL.

Wednesday, December 6, 2023 - *Offered Online Only 

8:30 a.m. – 4:30 p.m. 

8 A&A CPE Credits

Course description: 

Keep abreast of the fast-paced changes in accounting and auditing. This comprehensive course covers relevant pronouncements, exposure drafts, and other guidance recently issued in the accounting, auditing, review, compilation, and preparation engagement arenas. Let us sort through the complexities and help you identify and apply recently issued FASB, PCAOB, ARSC, and ASB standards and guidance. With the rate of change in today’s regulatory environment, you must stay current on the topics impacting the profession — don’t get left behind! 

Learning Objectives: 

Identify key points related to recently issued FASB standards and guidance. 

Recognize the effect of recently issued auditing standards, attestation standards, and standards on accounting and review services. 

Identify key concepts related to exposure drafts and other projects in accounting, auditing, compilation, preparation, and review services. 

Topics Discussed: 

- Recently issued ASUs 

- Current FASB exposure draft and projects 

- Audit and attest engagements update 

- Recent PCAOB guidance 

- Latest activity from ARSC