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.
DESIGNED FOR
CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current
BENEFITS
- Review of the Accounting Standards Codification and its application to partnerships and LLCs
- Review of the OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs
- Review of the AICPA financial reporting framework for small and medium-sized entities
- 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
- Completion of the Form 1065 Schedule M-1
- Partnerships/LLCs as part of other entities
HIGHLIGHTS
- To help understand how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts
COURSE LEVEL
Intermediate
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.