Understand the core concepts behind providing personal financial planning services for clients by learning, through real-life scenarios and practical guidance.
Learning 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.
Major Topics
PFP process;Statement on Standards in Personal Financial Planning Services No.1;PFP concepts and responsibilities
