Terms and Conditions and FRF for SME’s
Total Credits: 2 including 1 Accounting - Technical, 1 Business Law - Technical
- Average Rating:
- Not yet rated
- Categories:
- Partner Produced
- Faculty:
- Timothy Finerty - Shareholder | Dan Sharkey
- Course Levels:
- Overview
- Duration:
- 100 Minutes
- License:
- Product Setting: Expires 40 day(s) after program date.
Description
The Financial Reporting Framework for Small- and Medium-Sized Entities can answer the needs of American’s small business communities in cost-effective ways. During the first half of this multi-faceted presentation, Tim Finerty provides practical examples of this at practice and learn what the FRF for SMEs actually is and its primary differences from U.S. Generally Accepted Accounting Principles (GAAP).
During the second half of this unique webinar, join Dan Sharkey, a lawyer specializing in supply-chain contacts, as he spells out ways that the best companies are managing contracts including how to proactively protect your company for commercial issues, how to negotiate tactics in potential shut-down situations and best practices for managing sub-suppliers and playing “the number game,” in low-volume and high-volume situations.
Basic Course Information
Learning Objectives*Learn how FRF differs from US GAAP, but relates to smaller entities
*Learn how the framework affects finance statement users
*Learn how to proactively protect your company for commercial issues
*Gain knowledge of negotiation tactics in potential shut-down situations
*Acquire best practices for managing sub-suppliers and playing “the numbers game” in low-volume and high-volume situations
Major Subjects
*What the FRF for SMEs is and are what its primary differences from US GAAP
*What bankers, CPAs and other financial statement users are saying about the FRF for SMEs
*Discussion of practical implementation examples and lessons learned
*Negotiating strategies for buyers and salespeople
Faculty
Timothy Finerty - Shareholder Related Seminars and Products
Clayton & McKervey, P.C. – Southfield
Tim Finerty has expansive knowledge of business and tax consulting solutions for clients globally. He provides clients with a full range of accounting and auditing services, and is particularly attuned to the needs of growth-driven business owners.
Tim believes one of the things Clayton & McKervey does so well is seek to understand what great entrepreneurs do, and apply the knowledge gained from their experiences and our involvement to other client opportunities. "I can see the potential of some clients, and provide insight and techniques that I've learned so they can achieve greater success."
Tim now heads the assurance department (audit) for Clayton & McKervey and is well versed in an array of financial tools and cash flow management, including the implementation of the AICPA Financial Reporting Framework for SME over US GAAP reporting when considered more beneficial.
Being involved in business organizations allows him to associate with a broader group of business executives and entrepreneurs. Tim is active in the US Mexico Chamber of Commerce, Original Equipment Supplier Association (OESA), National Tooling and Machining Association, and Automation Alley.
Expanding into a global market takes courage, commitment, and knowledge about the culture, in addition to good business skills. Tim and others at Clayton & McKervey are able to provide insight into all of these aspects of international trade for privately-owned businesses and entrepreneurs.
Specialties: Tim also is the heads the charge for Clayton & McKervey's clients doing business in Mexico in the manufacturing, distribution, and service-related industries.
Dan Sharkey Related Seminars and Products
Brooks Wilkins Sharkey & Turco, PLLC - Birmingham
Dan Sharkey concentrates his practice in commercial and contract law, focusing on manufacturing and supply chains. He has tried more than 50 cases in U.S. District, Bankruptcy, Military, and State courts, but now spends most of this time drafting supply contracts and negotiating supply-chain disputes out of court. He has a business degree from Notre Dame, a law degree from Vanderbilt, and was a Captain in the U.S. Army Judge Advocate General’s Corps. He has been selected as one of the “Top 100 Lawyers” in Michigan, and was voted "Top 10 Speaker of the Decade" by the Original Equipment Suppliers Association.
Additional Info
Basic Course Information
Advanced PreparationNone
Course Developer
MICPA
Date Added to Catalog
07/27/2015
Designed For
CPAs, Controllers, CFOs, COOs, Finance Directors and anyone in charge of inventory management
Original Recording Date
09/10/2015
Prerequisites
None
Yellow Book
No
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Instructional Delivery Method
Group Internet Based
Official Registry Statement
Business Professionals' Network, Inc. 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 submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org