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Financial & Tax Accounting for S Corporations & Partnerships

Overview

This program compares and contrasts the financial and tax accounting differences of partnerships, LLCs, and S corporations, as well as discuss the tax accounting for these entities. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

Basic working knowledge of financial reporting and partnership and S corporation taxation.

Objectives

After attending this presentation you will be able to...

  • Distinguish the financial accounting and tax aspect of S corporation and partnerships with special emphasis on accounting for capital accounts

Highlights

The major topics that will be covered in this class include:

  • Review the Accounting Standards Codification, OCBOA/Special Purpose Frameworks, and AICPA financial reporting framework and their application to partnerships, LLCs and S corporations
  • Financial accounting issues arising from changes in ownership
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting with Forms 1065 and 1120S
  • Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests
  • Deferred tax accounting for partnerships/LLCs and S corporations
  • Financial accounting for the operations of a partnership/LLC
  • Financial accounting impact of the C to S election and the S to C election
  • Financial and tax accounting for S corporation shareholder equity and partner capital accounts
  • Financial vs. tax accounting for loans to and from S corporations and their shareholders

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

WX46348

8 CPE Credits
Accounting: 8 Credits

Registration

Member Price:
$239
Non-member Price:
$339

Registration is open through 01/21.

Tuesday, January 21st

9:00am to 5:00pm

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Instructor

Steven Dilley