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Financial Accounting for LLCs, Partnerships and S Corporations
Thursday, May 30, 2024 | 8:30 am - 4:30 pm
Course # 157421 | by Federal Tax Workshops Inc.
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Jun 24, 2025 - Traverse City
Jun 30, 2025 - Frankenmuth
Speakers: Steven C. Dilley
Time: 8:30 am - 4:30 pm
Total Credits: 8.0
Earn Up To: 8.0 AA credits
Level: Intermediate
Vendor: Federal Tax Workshops Inc.

What you will learn

Define the financial accounting and tax aspect of S corporation and partnerships with special emphasis on accounting for capital accounts.

Description

This program compares and contrasts the financial and tax accounting differences of partnerships, LLCs, and S corporations, as well as discuss the tax accounting for these entities.

PRICING DETAILS
Register early to take advantage of the best price! Please note, discounted pricing is already reflected in the online price. No promo code is needed.
Through May 2: $289 MICPA Members / $439 Non-Members
May 3 - May 16: $309 MICPA Members / $459 Non-Members
May 17 - May 30: $329 MICPA Members / $479 Non-Members

Prerequisites:
Basic working knowledge of financial accounting.

Advanced Preparation:
None
  • Review the Accounting Standards Codification, OCBOA/Special Purpose Frameworks, and AICPA financial reporting framework and their application to partnerships, LLCs and S corporations.
  • Financial accounting issues arising from changes in ownership
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting with Forms 1065 and 1120S
  • Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests.
  • Deferred tax accounting for partnerships/LLCs and S corporations
  • Financial accounting for the operations of a partnership/LLC
  • Financial accounting impact of the C to S election and the S to C election
  • Financial and tax accounting for S corporation shareholder equity and partner capital accounts
  • Financial vs. tax accounting for loans to and from S corporations and their shareholders

CPAs working with partnerships/LLCs and/or partnerships and members in business and industry seeking to keep their knowledge current.
  • Accounting
  • Steven C. Dilley
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