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
- 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
- Required S status financial accounting disclosures
- 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
HIGHLIGHTS
- Provide an understanding of the financial accounting aspects of S corporations
- Explore the common differences between financial accounting and tax accounting for S corporations
COURSE LEVEL
Intermediate
ADDITIONAL NOTES
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