Combining statements of financial position.

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COMBINING STATEMENTS OF FINANCIAL POSITION

California Society of Certified Public Accountants
California Certified Public Accountants Education Foundation

April 30, 2007 and 2006

(dollars in thousands)

                                      Society       Foundation
                                  2007     2006     2007

ASSETS
Current Assets:
  Cash and Equivalents             $5,626   $5,955  $2,081
  Trade Receivables, Net              278      211     244
  Other Accounts Receivable           234      222
  Due From (To) Affiliate             725      148    (725)
  Other Current Assets                373      342     375
  Total Current Assets              7,236    6,878   1,975
Investments                        12,411   10,828   7,527
Property and Equipment, Net           711      752     190
Prepaid Pension Cost                  261              124
Deferred Compensation Assets          441      353
TOTAL ASSETS                      $21,060  $18,811  $9,816

LIABILITIES AND NET ASSETS
Current Liabilities:
  Accounts Payable                   $489     $538    $115
  Accrued Expenses                    411      411     964
  Deferred Revenues                 5,895    5,722   2,272
  Deferred Lease Costs                 93       34      46
  Total Current Liabilities         6,888    6,705   3,397
Deferred Lease Costs, Net             241      369      92
Accrued Pension Liability                       28
Deferred Compensation Liability       441      353
TOTAL LIABILITIES                   7,570    7,455   3,489

NET ASSETS
  Unrestricted                     12,246   10,318   6,225
  Temporarily restricted            1,244    1,038      17
  Permanantly restricted                -        -      85
TOTAL NET ASSETS                   13,490   11,356   6,327
TOTAL LIABILITIES AND NET ASSETS  $21,060  $18,811  $9,816

                                  Foundation  Consolidated
                                  2006        2007     2006

ASSETS
Current Assets:
  Cash and Equivalents              $852       $7,707   $6,807
  Trade Receivables, Net             133          522      344
  Other Accounts Receivable            5          234      227
  Due From (To) Affiliate           (148)
  Other Current Assets               309          748      651
  Total Current Assets             1,151        9,211    8,029
Investments                        7,513       19,938   18,341
Property and Equipment, Net          192          901      944
Prepaid Pension Cost                              385
Deferred Compensation Assets                      441      353
TOTAL ASSETS                      $8,856      $30,876  $27,667

LIABILITIES AND NET ASSETS
Current Liabilities:
  Accounts Payable                   $47         $604     $585
  Accrued Expenses                   510        1,375      921
  Deferred Revenues                1,835        8,167    7,557
  Deferred Lease Costs                18          139       52
  Total Current Liabilities        2,410       10,285    9,115
Deferred Lease Costs, Net            132          333      501
Accrued Pension Liability             13                    41
Deferred Compensation Liability                   441      353
TOTAL LIABILITIES                  2,555       11,059   10,010

NET ASSETS
  Unrestricted                     6,173       18,471   16,491
  Temporarily restricted              47        1,261    1,085
  Permanantly restricted              81           85       81
TOTAL NET ASSETS                   6,301       19,817   17,657
TOTAL LIABILITIES AND NET ASSETS  $8,856      $30,876  $27,667

The accompanying notes are an integral part of these financial
statements.