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.
Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations. Review of OCBOA and its relationship to financial accounting for S corporations. Review of the new 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.
Provide an understanding of the financial accounting aspects of S corporations. Explore the common differences between financial accounting and tax accounting for S corporations.
Steve Dilley is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 35 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics.
In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He was nominated in 2004 for the “Educator of the Year Award” and received the 2005 “Distinguished Achievement in Accounting Education Award” in Michigan. He also received the 2007 MSU Accounting and Information Systems Department Outstanding Teacher Award.
He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Non-Member Price $189.00
Member Price $139.00