Financial Accounting for Related Party Transactions
Overview
Loans, rental agreements, business combinations - what do these all have in common? They all have the potential of creating a related party transaction. This program presents a detailed analysis of the financial accounting rules for transactions with related parties, as well as compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities.
This course does not qualify for IRS credit.
Delivery Method: Individual webcast
CPE Credit: Accounting
Program Level: Intermediate
Highlights
- FASB codification provisions for transactions with related parties, including business owners and special purpose entities
- Compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities
- Reviews the tax accounting related taxpayer standards
- Several real-life situations illustrate the various authoritative standards and discuss the consequences of failing to comply with those standards
Prerequisites
Basic working knowledge of financial accounting framework
Designed For
CPAs working in public accounting firms and members in industry
Objectives
- Identify the financial accounting rules for related parties and how they impact accounting transactions
- Compare financial accounting rules of related parties to those of the AICPA financial reporting framework
Preparation
None
Leader(s):
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.
Non-Member Price $109.00
Member Price $79.00