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.
*Provide an understanding of the financial accounting aspects of S corporations * Explore the common differences between financial accounting and tax accounting for S corporations.
* 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 * Deferred tax accounting for S corporations * Required S status financial accounting disclosures * Financial accounting impact of the C to S election and the S to C election * 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.
Who Should Attend
CPAs in public accounting and members in industry dealing with financial accounting issues of S corporations.
Basic working knowledge of S Corporation reporting.
Additional Event Information
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.
If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .
*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.
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