AICPA’s Financial Reporting Framework for Small and Medium Size Entities

Duration 90 Mins
Level Basic & Intermediate
Webinar ID IQW20E0555

  • 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

Overview of the webinar

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

Who should attend?

  • Accountants
  • All aspiring entrepreneurs
  • All executives of any organization
  • Consultants in advisory positions to businesses
  • Tax and legal consultants

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.

Faculty - Ms.Candace Leuck

Candace Leuck knows how to relate to business professionals. As president of Athena Finance Group, Inc. she develops custom solutions and strategies to expand the opportunities of businesses and other organizations.  Candace has 25 years of professional experience, including eight years in public practice. She earned her Master of Professional Accountancy (Audit Emphasis) from Clemson University in 1988. She is a certified public accountant and a member of the South Carolina Association of CPAs and has served as a lecturer at Clemson University’s School of Accountancy and Finance, The University of North Carolina at Greensboro, and Furman University.

05-27-2020 - AICPA's Financial Reporting Framework for Small and Medium Size Entities.pdf
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