Financial & Tax Accounting for S Corporations
4.00 Credits
Member Price $159
Non-Member Price $189
Overview
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 AICPA "small" GAAP accounting standards.
This course does not qualify for IRS credit.
Highlights
- 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 the S corporation shareholder equity account
- Financial vs. tax accounting for loans to and from S corporations and their shareholders
Prerequisites
Basic working knowledge of financial accounting
Designed For
CPAs working with S corporations and members in business and industry seeking to keep their knowledge current
Objectives
- Apply key financial accounting aspects of S corporations
- Explore the common differences between financial accounting and tax accounting for S corporations
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, Federal Tax Workshops
Steven C. Dilley, CPA, JD, PhD, 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 professor of accounting at Michigan State University, where he teaches tax accounting and has recently received two teaching awards. 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.
Non-Member Price $189
Member Price $159