Description
Understand the core concepts behind providing personal financial planning services for clients by learning, through real-life scenarios and practical guidance.
Designed For
- CPAs
- Tax professionals
- Financial planners
- Other qualified professionals
Objectives
- Identify the steps in the PFP process and how they apply to SSPFPS No. 1.
- Recall why the various behavioral biases used in the discovery process to gather qualitative information are needed for analysis and recommendations.
- Recall the name of the organization that established the first CPA specialty credential.
- Recognize language conventions that indicate a required action under SSPFPS No.1.
- Identify the PFP process and services as defined in the AICPA Statement on Standards in Personal Financial Planning Services (SSPFPS) No. 1.
- Indicate when a PFP engagement occurs.
- Distinguish between the different financial ratios applied to an individual's spending plan.
- Recall the typical recommendation for emergency reserves in a PFP client engagement.
Highlights
- PFP process
- Statement on Standards in Personal Financial Planning Services No.1
- PFP concepts and responsibilities