OCBOA: Something Old, Something New

EVENT DESCRIPTION

This presentation is about the “other comprehensive basis of accounting” (OCBOA) for accounting engagements. The session includes the following basis of accounting for accrual, tax, cash, liquidation, and any related updates for these engagements. Further, the AICPA’s new OCBOA, Financial Reporting Framework for Small and Medium Sized Entities (FRF for SMEs) will be compared to the tax basis of accounting and GAAP. The participants learn about new FASB pronouncements that may impact OCBOA and the impact of International Financial Reporting Standards (IFRSs) on OCBOA.

Topics Covered

Accrual, tax, cash, modified cash, liquidation, estimated value basis and other bases of accounting
AU-C 800 for audits of OCBOA financials
Reporting issues and OCBOA
Engagement Letter issues
Disclosures for OCBOA
Preparation Services and OCBOA
Documentation for OCBOA
The AICPA's FRF for SMEs