Companion to PPC's Guide to Preparing Financial Statements - Course 2 - Cash and Tax Bases, Other Special Purpose Frameworks, and Accounting for Certain Tax Transactions (PFSTG222)  

Identify various special purpose frameworks, when to use them, and the form of the financial statements in a special purpose presentation.

Recognize how the pure cash, modified cash, income tax, and contractual bases affect financial statements, and how a special purpose framework might affect small and medium-sized entities.

Determine best practices for accounting changes, consolidation of VIEs, and uncertainty in income taxes.

Determine how to address financial statement issues related to examination by a taxing authority, a change of accounting method or period, asset capitalization and valuation, and investments in partnerships.

Recognize how financial statements may be affected by property and equipment transactions, stock redemptions and related transactions, partnerships, and LLCs.

Identify how financial statements may be affected by changes in tax status, transactions with owners, leasing transactions, and other tax transactions.