Tax Practitioner's Guide to Accounting and Reporting Issues 2024

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:

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

Highlights

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

Who Will Benefit

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.

Credits