Middlesex/Somerset and Mercer Chapters CPE Pass - 2023/24

This session will review new guidance from the FASB, AICPA and PCAOB, the AICPA practice aid on analytics and AICPA professional ethics. It will also cover the technical aspects of sampling and the difference between attest and non-attest services.

Highlights

• AICPA practice aid on analytics and AICPA professional ethics
• Real- life examples on journal entry testing and client interviews
• Technical concepts on sampling, including those often misapplied and/or overlooked
• Other important practice matters

Benefits

• Apply the FASB, AICPA and PCAOB recent guidance on going concern accounting and reporting.
• Review and apply recently issued and proposed FASB and AICPA pronouncements.
• Preview new guidance that becomes effective soon.
• Discuss technical concepts on sampling.
• Review requirements for attest and non-attest engagements.

Designed For

Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities

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This seminar will cover developments and current issues in individual, business and income taxation and include specific focus on trust and estate taxes.

Highlights

• General update in individual and business taxation
• Federal estate, gift and generation-skipping transfer tax update
• “Setting Every Community Up for Retirement Enhancement (SECURE) Act”, including recent treasury regulations
• New Jersey inheritance tax
• Properly structuring an estate plan with a will and/or revocable trust, including issues with a CPA serving as an executor or trustee
• How to advise clients to avoid the pitfalls of family litigation regarding tax and estate matters
• Properly advising corporate clients regarding entity agreements, including related income tax concerns
• Life insurance issues, including the use of irrevocable life insurance trusts

Benefits

Equip yourself with trust and estate tax planning strategies and stay abreast of current issues

Designed For

CPAs and accountants who are involved in preparing tax returns

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This program will consist of presentations on both AI and crypto assets — technologies that are fundamentally changing the face of the accounting profession daily.You will learn more about AI capabilities, get a thorough understanding of ChatGPT, and hands-on demonstrations of both its benefits and limitations.

Highlights

This session will cover these topics:

 

• Different types of AI
• Specific examples of accounting firms investing in AI
• Review and update of ChatGPT
• A walk-through and demonstration of ChatGPT functionality
• Introduction to digital assets
• Developments in digital asset broker rules and reporting requirements
• Recent developments in the equity markets with the introduction of ETFs

Benefits

Professionals will acquire and improve knowledge of AI and crypto assets, including examples of real-life implementation and best practices in offering advisory services around these technologies.

Designed For

Accountants in public practice and industry

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Gain invaluable insights into the evolving landscape of life insurance and the crucial role it plays in safeguarding the best interests of clients. After CPE, network with your friends and meet new friends while swinging a golf club at Top Golf.

Highlights

As the insurance industry continues to evolve, it is essential to stay abreast of the latest strategies and regulations to effectively serve your clients’ needs. Topics covered will include: 

• Current Trends in Life Insurance: The latest advancements and emerging trends in the life insurance industry, including innovative policy structures and evolving client expectations 
• Legal Landscape: The legal framework governing life insurance and the implications for professionals advising clients on life insurance matters, including regulatory updates and fiduciary duties 
• Best Interest Standard: Used when evaluating life insurance options, ensuring compliance with ethical obligations and optimizing client outcomes 
• Policy Analysis and Recommendations: Factors that influence policy selection, incorporating clients' unique financial goals and risk tolerance, and advising on appropriate coverage levels 
• Tax Implications: Complexities of tax considerations related to life insurance, including income tax, estate tax and gift tax, and exploring strategies to mitigate tax liabilities for clients 
• Ethical Considerations and Compliance: Adhering to professional ethics and compliance requirements when providing life insurance advice, documented client communication and mitigating potential risks 
• Benchmarking technology: A tool that independently evaluates financial strength and claims-paying ability, cost competitiveness, stability of illustrated expectations, access to/restrictions on account values as well as the historical performance of invested assets/underlying policy cash values. 

Benefits

• Understand NY DFS Reg 187 – an amendment that requires that insurers and insurance agents act in the “best interest” of clients when recommending life insurance.
• Recognize the importance of evaluating and understanding internal policy costs and expenses, as well as insight on benchmarking technology. 

Designed For

CPAs in public practice

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