ifrs accounting 2017 - AICPA's Financial Framework For Small And Mid Sized Entities

Key Take Away:
If you intend to use FRF-SME, you may want to check your client’s loan and other legal agreements to see if they require financial statements in accordance with U.S. GAAP. The FRF-SME is not GAAP; therefore, its use may run afoul of loan (or other) agreements.
Overview:
Join us for a discussion of the new framework guidance developed by the AICPA for privately held entities as well as a discussion of when and why this framework can save time and resources in the accounting process. This discussion leads to an understanding of when it is desirable and acceptable to make a change from GAAP to the accrual basis accounting method developed by the AICPA. The course gives an overview of the new method as well as tips on convincing external users of the financial statements of the advantages of making a change.
Why Should You Attend:
Accountants and other financial professionals who deal with privately held entities wishing to reduce the cost and reporting burden that exists with reporting using Generally Accepted Accounting Principles should become familiar with the AICPA’s recently developed accrual basis framework of accounting.
Areas Covered In This Webinar:
The accounting framework is built upon a foundation of reliable and comprehensive accounting principles.
Historical cost is the primary measurement basis.
Disclosures are reduced, while still providing users with the relevant information they need
Familiar and traditional accounting methods are employed.
Adjustments needed to reconcile tax return income with book income are reduced.
The framework is a principles based framework, usable across industries by incorporated and unincorporated entities.
The framework contains less complicated, leaner, relevant financial reporting principles for small and medium size entities (SMEs).
Only financial statement matters that are typically encountered by SMEs are addressed in the framework.
Learning Objectives:
Explore the history of why and how the financial reporting framework came to be developed
Identify the impact on both internal and external users
Discover the cost and reporting benefits of making a change
Explore the structure along with similarities and differences with GAAP
Who Will Benefit:
CPAs, financial professionals, executives of small and medium size entities in all industries
For more information, please visit : http://bit.ly/2oQf32S
Email: support-AT-atozcompliance.com
Toll Free: +1- 844-414-1400
Tel: +1-516-900-5509
Speakers Profile:
Candace Leuck
Candace Leuck began her professional career with Ernst & Young and has audit experience in various industries including manufacturer, automobile dealerships and securities brokers. She earned her Masters of Professional Accountancy from Clemson University and has held Certified Public Accountant designations in both South Carolina and North Carolina. Candace has been giving presentations, seminars, and webinars to audiences for over 30 years as well as teaching in university classrooms. She has been in consulting practice for the past ten years, specializing in new business formation, cash flow excellence, bankruptcy policy and proceedings, and lean environment consultations.