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Financial and Tax Accounting for Partnerships and LLCs (3603)
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This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities and the relationship between partnerships and financial accounting. The relation of tax accounting to financial accounting for partnership capital accounts and the accounting for operations of a partnership will also be addressed.

7/21/2015
When: 07/21/2015
8:00 AM - 12:00 PM
Where: Webcast/Webinar
Presenter: Steven C. Dilley, PhD, CPA, JD
Contact: April Deneault
801-834-6634

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This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities and the relationship between partnerships and financial accounting.  The relation of tax accounting to financial accounting for partnership capital accounts and the accounting for operations of a partnership will also be addressed.

Objectives:

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

 

Major Subjects:

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.
  

 

Designed For:

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

 

Prerequisite: 

None

 

Advanced Prep:

  None

  

Speaker:  Steven C. Dilley, PhD, CPA, JD

Vendor:  Federal Tax Workshops, Inc.

Field of Study:  Accounting

Level:  Intermediate

CPE Credit:             4 Hours

Acronym: TFTAP4

 

Registration Fees:

$ 158

  

Register here


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