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Tax Basis

Tax basis financial statements can be issued by CPAs. And it makes plenty of sense to do so. After all, once the tax return is done, you have the necessary information for the creation of a balance sheet and income statement.

CPAs can issue tax basis financial statements using AR-C 70, Preparation of Financial Statements, or AR-C 80, Compilations. Either option provides you with a quick way to issue financial statements—usually without disclosures—for your clients.

special purpose frameworks
Accounting

How to Understand Special Purpose Accounting Frameworks: Three Videos

In this post, I provide three videos explaining these bases of accounting: (1) cash basis, (2) modified cash basis,…

Read More How to Understand Special Purpose Accounting Frameworks: Three VideosContinue

efficient way to issue financial statements
Preparation, Compilation & Review

Issue Financial Statements in the Most Efficient Way

What is the most efficient way to issue financial statements? Tax basis financial statements without disclosure, using the Preparation…

Read More Issue Financial Statements in the Most Efficient WayContinue

Special purpose reporting framework
Accounting and Auditing Preparation, Compilation & Review

An Introduction to Special Purpose Reporting Frameworks

In this article, I provide information about various special purpose reporting frameworks (e.g., cash basis, modified-cash basis, and income…

Read More An Introduction to Special Purpose Reporting FrameworksContinue

Charles Hall

Charles Hall

I am a practicing CPA. I have primarily audited governments, nonprofits, and small businesses for the last forty years.

My sweet spot is governmental and nonprofit fraud prevention. I am the author of (1) Journal Entries Made Easy,  (2) The Little Book of Local Government Fraud Prevention, (3) Preparation of Financial Statements & Compilation Engagements, (4) The Why and How of Auditing, and (5) Audit Risk Assessment Made Easy. I frequently speak at continuing education events.

I consult with CPA firms, assisting them with auditing and accounting issues. Contact Charles

More About Me
  • Books
  • Media
  • Topics
Book: Journal Entries Made Easy, an Introduction to Accounting
Book: The Little Book of Local Government Fraud Prevention
Book: Preparation of Financial Statements & Compilation Engagements
Book: Audit Risk Assessment Made Easy: Seeing What Others Miss
Book: The Why And How Of Auditing: Auditing Made Easy
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