Discussion:Compiliation: Tax accountant who does bookkeeping
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Discussion Forum Index --> Accounting Questions --> Compiliation: Tax accountant who does bookkeeping
Scottcpa22 (talk|edits) said: | 30 September 2009 |
| I recently open up my own firm. I consider myself mainly a tax accountant. I am however a Quickbooks Proadvisor and assist clients with their Quickbooks and some clients I do all their bookkeeeping. These clients sometimes need reports. I previously had a firm a couple of years back and I would just have my clients print out their own reports if they needed to take them to the bank or I would tell them to bring a tax return to the bank. I am by no means a GAAP expert but would like to be able to produce simple compilations that are in compliance with the AICPA. What would be the best way to be able to produce a simple Comp. I know I can leave out the notes to make it easier but does anyone have a good resource or class that I could take so I can stay in compliance without having to issue complex GAAP reports? | |
| September 30, 2009 | |
| You don't have to issue GAAP reports, like ever. You're allowed to issue them on a Tax Basis, technically, an Other Basis of Accounting. You can do a self study class from PPC or others on Compilations, and I'm sure there are some live seminars out there from folks like Jennings, Gear Up, perhaps even NATP. | |
| 30 September 2009 | |
| My recommendation would be the PPC Tax & Cash Basis books. They will give you 99% of what you need to know about tax basis comps. | |
| October 1, 2009 | |
| I agree PPC is a good source for information. They have a compilation and review library that will provide you with examples as well as checklists. | |
Scottcpa22 (talk|edits) said: | 1 October 2009 |
| Thanks, everyone I will look into PPC. | |
| 7 October 2009 | |
| Scott, if your still around, I attended an excellent CPE by Bob Jennings, CPA entitled Compilations & Reviews. The written materials alone were worth the price of the seminar. I am not an accountant or CPA, but I was a member of a tax association in my state, and they invited him in to do the CPE. He basically covered cautions and pitfalls related to the above, so this could give you a much broader view of what's going on besides just the nuts and bolts, he had excellent forms in the book, etc.. http://www.taxspeaker.com is the website I have for him. | |
Ksnoopytax (talk|edits) said: | 11 October 2009 |
| I would suggest PPC also. It can give you examples and such to use. | |
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