PFP23201B. PFS™ Live! Workshop: Practical Applications for a Younger Family Client – Case Study #1

This session works through a case study of a typical younger family client’s situation. It will discuss how information gathered from the client informs the CPA financial planner on discussion points of specific aspects of topics from the body of knowledge. Background on these points will be discussed to ensure the attendee has a broad working knowledge of why this is important for this client, how it relates the PFP Standards, potential tax impacts, and impacts on the overall financial plan.

Learning Objectives:

• Select the type of personal financial planning engagement that is most appropriate based on the case study’s facts and circumstances
• Calculate the personal financial planning client’s gross income based on their cash flow statement
• Calculate the number of months the personal financial planning client has funded in their emergency reserves based on their statement of financial position
• Determine the personal financial planning client’s PITI ratio
• Recall which of the four key areas of personal financial planning should be accomplished first in a particular personal financial plan