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2024 Financial & Tax Accounting for S Corporations

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4.0 Credits

Member Price $129

Non-Member Price $129

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 new AICPA "small" GAAP accounting standards.

Highlights

  • 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

Prerequisites

Basic working knowledge of S Corporation reporting

Designed For

CPAs in public accounting and members in industry dealing with financial accounting issues of S corporations

Objectives

  • Identify financial accounting aspects of S corporations
  • Explore the common differences between financial accounting and tax accounting for S corporations

Preparation

None

Non-Member Price $129

Member Price $129