There are a very large number of small and medium sized entities (SMEs) across the country who are not required to have GAAP based financial statements. And as such, there has been an ongoing and ever-growing need of such SMEs (and CPA firms who service them) for developing an efficient and cost-effective alternative to GAAP based financial statements. The AICPA has addressed this need by issuing the Financial Reporting Framework (FRF) for SMEs to aid in decision-making processes for managements of SMEs and users of their financial information (e.g. bankers/ lenders, private investors, etc.). During our program, we will be: reviewing the evolution of Non-GAAP based financial reporting and where and how the FRF for SMEs fits into such guidance; highlighting key accounting and reporting concepts and principles of the framework; and exploring growth oriented strategies for CPAs in serving the needs of SMEs and users of their financial information. This is a can’t miss opportunity for CPAs and internal and external users of SME financial (accounting and reporting) information who are interested in, and better yet committed to, maximizing opportunities for adding value in this continually growing marketplace.
Learning Objectives/ Goals:
- To emphasize the importance of, and the needs / benefits for SMEs and users of their financial statements in adopting the FRF for SMEs
- To review key concepts and principles of the FRF for SMEs
- To highlight practical application strategies for effectively and efficiently implementing the FRF for SMEs
- To identify strategic opportunities for growth in providing cost effective accounting and reporting services to and for the SME marketplace
James D. Hallinan, CPA, CIA, CFSA, CBA is an independent business consultant specializing in internal audit: risk management, control and governance related review services; training and development; and quality assessment. He has over 25 years of diversified corporate/ bank internal audit and related independent business consulting experience. He is well versed in virtually all major aspects of internal audit, risk/ control, and governance related engagements for community (and larger) banks, including (but not limited to): leading internal audit outsourcing programs; FDICIA and Sarbanes-Oxley internal control related design/ documentation and operating level effectiveness assessment projects; sensitive Bank Secrecy Act/ Anti-Money Laundering independent audits; high risk funds transfer operational reviews; and annual independent ALM/ IRR internal control reviews.
||Saturday, November 11th, 2017. 9:00 am to 5:00 pm EST
||James D. Hallinan, CPA, CIA, CFSA, CBA
||8 Accounting CPE
||7 Substantive CLE
||Bill Kline Email:
firstname.lastname@example.org or Phone: 267-251-3805
|McDevitt & Kline, LLC is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site:www.nasba.org.