- NY Credits : 8.0
- TX Credits : 8.0
This interactive self-study course looks at two special purpose frameworks for accounting, the cash basis and income tax basis. Lesson 1 discusses the cash basis of accounting and covers topics including the pure cash basis, the modified cash basis, and appropriate disclosure considerations. Lesson 2 examines the income tax basis of accounting and includes discussions of the accrual and cash methods of accounting for federal income tax purposes, disclosure considerations, and the presentation of income taxes.
Course Expiration Date: November 30, 2021
Please note, the grading fee for answer sheets submitted by regular mail is $119.
Determine when use of the cash basis of accounting is appropriate, what general considerations apply, and what differences exist between the pure cash basis and the modified cash basis.
Identify disclosure that must be made when using the cash basis of accounting.
Determine when use of the income tax basis of accounting is appropriate, what general considerations apply, and how to use the accrual and cash methods of accounting for federal income tax purposes.
Identify disclosures that must be made when using the income tax basis and how use of this basis will affect an entity's income tax presentation.
Lesson 1—Cash Basis of Accounting
Lesson 2—Income Tax Basis of Accounting