- NY Credits : 7.0
- TX Credits : 7.0
This interactive self-study course takes a look at several issues related to compilation and review engagements. Lesson 1 discusses the form and presentation of financial statements. Lesson 2 examines issues related to partnerships. Lesson 3 concludes the course with a discussion of issues related to S corporations.
Course Expiration Date: July 31, 2022
Please note, the grading fee for answer sheets submitted by regular mail is $119.
Identify the title page, TOC, accountant’s report, and the basic financial statements in a typical GAAP presentation.
Recognize the correct presentation of significant accounting policies and notes
Identify proper presentation of supplementary information, risks and uncertainties, derivatives, accounts receivable, fiscal year changes, and uncertain tax positions.
Determine practices for combinations, consolidations, controlling interests, and fair value measurements.
Determine proper reporting for various partnership issues such as accounting basis, partner loans, partner capital, investments, and changes in legal form.
Identify accounting and reporting issues of LLCs and LLPs.
Recognize appropriate presentation for S corporations and retained earnings.
Identify losses, tax/book differences, and termination of a retained earnings account.
Lesson 1—Form and Presentation of Financial Statements
Lesson 3—S Corporations