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Financial and Tax Accounting for Partnerships and LLCs Webinar
Financial and Tax Accounting for Partnerships and LLCs Webinar
Aug. 3
9:00 a.m. - 1:00 p.m.
Details
Pricing
PICPA Member: $139 | Nonmember: $189
More Information
Course No.
FTFTAP4
Level
Intermediate
Note
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from messenger@webex.com with the log-in information.
Description
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.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives: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.
Speaker(s)
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