Proper Financial Accounting for Partnerships and LLCs
Overview
Although they are the most common entities for small and mid-sized business, financial (book) accounting for partnerships and LLCs are rarely discussed. This course examines the proper financial accounting for these tax-driven entities.
Delivery Method: Individual webcast
CPE Credit: Accounting
Program Level: Intermediate
Highlights
- Importance of Partnership capital accounts
- Book vs tax capital accounts
- Partnership capital contributions
- Section 704(b) capital rules and OCBOA
- GAAP balance sheet impact of capital contributions
- Bonus and Goodwill methods
- Ceiling Rule and Remedial allocations
- GAAP partner capital accounts
Prerequisites
Basic working knowledge of business taxation
Designed For
CPAs in public practice and members in industry seeking a better understanding of financial accounting for partnerships and LLCs
Objectives
- Apply financial accounting concepts to partnerships and LLCs
- Identify planning strategies and potential pitfalls.
Preparation
None
Leader(s):
Leader Bios
Doug Van Der Aa, Federal Tax Workshops
Douglas J. Van Der Aa, CPA, JD, has been a highly rated speaker and seminar leader for CPA Associations and other organizations throughout the country for more than 18 years. Doug has over 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. He taught for 12 years as an Adjunct Instructor and for one year as Assistant Professor of Accounting and Taxation for Grand Valley State University's Seidman College of Business, where he taught in both the undergraduate and MST programs.
Non-Member Price $159.00
Member Price $129.00