Overview:This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities. It includes a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions either during or after the event.
- Review of the Accounting Standards Codification and its application to partnerships and LLCs.
- Review of OCBOA and its application to partnerships and LLCs.
- Review of the new AICPA financial reporting framework for small and medium-sized entities.
- Integration of these financial reporting approaches with accounting for issues in the formation of partnerships and LLCs.
- Financial accounting issues arising from changes in ownership of partnership and LLCs.
- Financial vs. tax accounting for partnership/LLC capital accounts.
- Review of Section 704(b) substantial economic effect rules and their relation to financial accounting.
- The integration of financial accounting for partnerships/LLCs with the Form 1065.
- Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests.
- Deferred tax accounting for partnerships/LLCs.
- Completion of the Form 1065 Schedule M-1.
- Financial accounting for the operations of a partnership/LLC.
- Partnerships/LLCs as part of other entities.
Objective:To help understand how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts.
Designed For:CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current.
Vendor:CPA Crossings, LLC
Member/Nonmember Fees:129 / 185
CPE:Accounting 4 hour(s)
Yellow Book Credit:No
Steven C Dilley
Federal Tax Workshops, Inc.
Cancellation or transfer requests made six(6) business days or more prior to the program, no fee assessed.
Cancellation or transfer requests made two(2) to five(5) business days prior to the program, $25 fee assessed.
Cancellation or transfer requests made one business day prior to the program, $50 fee assessed.
Day of program or no notice of cancellation, 100 percent course fee assessed.
If you transfer from an in-person class course to a webcast, the above policies apply.
Remember, the COCPA reserves the right to cancel a course seven days prior to the program date. Please keep this cancellation policy in mind when making your travel plans and airline reservations. The COCPA will not be liable for flight cancellation penalties due to our cancellation.
To cancel or transfer a course, please contact the Member Services department at 303-773-2877 or 800-523-9082.