This program addresses the many complex financial and tax accounting issues that are common in S corporation transactions, with discussion of common pitfalls and the new AICPA "small" GAAP accounting standards.
DESIGNED FOR
CPAs in public accounting and members in industry dealing with financial accounting issues of S corporations
BENEFITS
- To help understand how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts.
HIGHLIGHTS
- Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations
- Review of OCBOA/Special Purpose Frameworks and their relationship to financial accounting for S corporations
- Review of the AICPA "small" GAAP rules
- The 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 account
- Financial vs. tax accounting for loans to and from S corporations and their shareholders
- Financial accounting vs. tax accounting for S corporation investments in other entities
- Financial and tax accounting for PPP loan forgiveness.
COURSE LEVEL
Intermediate
PREREQUISITES
Basic working knowledge of S Corporation reporting.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
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. Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).