Financial and Tax Accounting for Partnerships and LLCs

Description:

This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities. It includes a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed.

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

Highlights:

  • 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.


Objectives:

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

Prerequisites:

None

Category:

AA

Credits:

4

Course Level:

Intermediate

Members

Standard Fee: $129.00

Non-Members

Standard Fee: $129.00

Register Now

Vendor:

CPA Crossings

Start:

December 7, 2017 9:00am

End:

December 7, 2017 1:00pm

Designed For:

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