Financial and Tax Accounting for Partnerships and LLCs Webinar

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