Financial & Tax Accounting for S Corporations

Overview

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 AICPA "small" GAAP accounting standards.

This course does not qualify for IRS credit.

Delivery Method: Individual webcast
CPE Credit: Accounting
Program Level: Intermediate

Highlights

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 the S corporation shareholder equity account
Financial vs. tax accounting for loans to and from S corporations and their shareholders

Prerequisites

Basic working knowledge of financial accounting

Designed For

CPAs working with S corporations and members in business and industry seeking to keep their knowledge current

Objectives

Apply key financial accounting aspects of S corporations
Explore the common differences between financial accounting and tax accounting for S corporations

Preparation

None

Level

Code

Vendor

Fields of Study

Leader(s):

Steven Dilley, CPA Crossings, LLC

Leader Bios

Steven Dilley, CPA Crossings, LLC

Steve Dilley is President of Federal Tax Workshops, Inc. He is nationally known speaker and author on financial, accounting, and tax problems of the closely held business and individual taxpayers. Steve obtained his undergraduate accounting degree, PhD in accounting, and law degree from the University of Wisconsin-Madison and is a retired Professor of Accounting at Michigan State University. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.

Return to Top