Financial Accounting for LLCs, Partnerships and S Corporations
Total Credits: 8 including 8 Accounting - Technical
- Average Rating:
- 27
- Categories:
- Accounting and Auditing | Industry | Partner Produced
- Speaker:
- Steven C. Dilley, CPA, JD, PhD
- Course Levels:
- Intermediate
- Duration:
- 8 Hours
- License:
- Product Setting: Expires 40 day(s) after program date.
Description
This 2-part presentation first compares and contrasts the financial accounting for partnerships/LLCs and the tax accounting for these entities. It then addresses the many complex financial accounting issues of an S corporation, including financial accounting and tax accounting for common S corporation transactions.
Basic Course Information
Learning Objectives- Apply financial accounting concepts in the partnership setting with special emphasis on accounting for capital accounts
- Apply financial accounting aspects to S corporations
- Distinguish common differences between financial accounting for S corporations and tax accounting for S corporations
Major Subjects
Part 1 – Financial Accounting for LLCs and Partnerships
- Review of the Accounting Standards Codification and its application to partnerships and LLCs
- Review of the OCBOA and its application to partnerships and LLCs
- Financial accounting issues in the formation of partnerships and LLCs
- Financial vs. tax accounting for partnership/LLC capital accounts
- Sec. 704(b) substantial economic effect rules and their relation to financial accounting
- Integration of financial accounting for partnerships/LLCs with the Form 1065
Part 2 – S Corporations: Financial Accounting
- Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations
- OCBOA and its relationship to financial accounting for S corporations
- Impact of the entity's tax status history on its financial accounting
- Deferred tax accounting for S corporations
- Required S status financial accounting disclosures
- Financial accounting impact of the C to S election and the S to C election
- The relationship of financial accounting and the Form 1120S
- Financial and tax accounting for S corporation shareholder equity accounts
- Financial vs. tax accounting for loans to and from S corporations and their shareholders
- Financial accounting vs. tax accounting for S corporation investment in other entities
Course Materials
| Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase | ||
| Financial Accounting for LLCs, Partnerships and S Corporations_May 31, 2019 (5.6 MB) | 221 Pages | Available after Purchase |
Speaker
Steven C. Dilley, CPA, JD, PhD Related Seminars and Products
Steve is President of Federal Tax Workshops, Inc., located in East Lansing, Michigan. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics. In addition, Steve is a retired Professor of Accounting at Michigan State University, where he taught tax accounting and has recently received numerous teaching awards. He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Additional Info
Basic Course Information
Prerequisites NoneAdvanced Preparation None
Course Developer MICPA
Designed For Those working with partnerships, LLCs and S corporations and members in business and industry seeking to keep their knowledge current
Original Recording Date 05/31/2019
Date Added to Catalog 03/22/2019
Yellow Book No
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Group Internet Based
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Course Registration Requirements Online Registration
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