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Updated for changes made by the Tax Cuts and Jobs Act, the CARES Act, and the Consolidated Appropriations Act, topics include an overview of the types of special purpose frameworks, advantages and disadvantages of using tax-basis financial statements, tax-basis accrual versus cash basis, reviewing the key differences between GAAP and tax-basis revenue and expenses and other differences, tax-basis disclosures, reporting options for tax-basis financial statements, unusual reporting and presentation issues related to tax-basis financial statements, an overview of other types of special purpose frameworks including pure cash basis, modified cash basis, regulatory basis, contractual basis, and the other basis of accounting, and more
Additional Course Details
- Filed of Study: Accounting & Auditing
- Author: Steve Fustolo
- Course Level: Overview
- Pre-Requisites: General understanding of U.S. GAAP
- Interactive: Yes
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