Webinar (CPA Crossings): Financial and Tax Accounting for Partnerships and LLCs

Description

This course compares and contrasts the financial accounting for partnerships, LLCs, and S corporations, with the tax accounting aspects for these entities. The first part of the program will discuss the important differences between financial accounting and tax accounting for partnership capital accounts and the financial accounting operations of a partnership.

The second part will address the many complex financial and tax accounting issues that are common in S corporation transactions, as well as common pitfalls and the new AICPA small GAAP accounting standards.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives

To help understand how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts.

Major Topics
  • 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.

 

Provider
CPA Crossings, LLC
Course Level
Intermediate
CPE Field of Study
Accounting
4
Who Should Attend

CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current.

Instructor(s)
Steven Dilley
Location
Webinar
Register Now
When
Feb 27, 2020
10:00 am - 2:00 pm MDT
Location
Webinar
Total CPE Credits
4.0
Format
Webinar
Instructor
Steven Dilley

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Webinar (CPA Crossings): Financial and Tax Accounting for Partnerships and LLCs


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