- NY Credits : 4.0
- TX Credits : 4.0
Accounting Overview for Tax Professionals
This course provides the tax professional with an overview of GAAP and the GAAP standard setting bodies. Also, it provides an introduction to Compilations and Reviews, including the requirements of SSARS 21.
Upon successful completion of Accounting Overview for Tax Professionals, the user should be able to:
identify key standard setting bodies and elements of GAAP, the Codification, and basic financial statements,
identify the SSARS requirements for preparation and compilation engagements and an accountant's responsibilities related to the intended use of the financial statements,
identify the SSARS requirements for a review engagement and describe how to obtain an understanding of the industry and knowledge of the client, design and perform review procedures, and make inquiries when performing a review engagement, and
identify the appropriate response to certain elements of a review engagement, including unsatisfactory information, illustrative review procedures, reading reviewed financial statements, obtaining reports from other accountants, communication of internal control related matters, and representation letters.