CPE Catalog & Events

Timely coverage of breaking tax legislation Tax consequences of retiring partners seeking liquidating distributions/redemptions and S corporation shareholders seeking the redemption of their shares At-risk and passive activity loss considerations Basis planning Related party transactions: making them work Income splitting and shifting with family can create considerable benefits Sale of ownership interest and NIIT considerations

Developing issues related to Yellow Book audits and single audits Key AICPA developments affecting audits of governments and nonprofits (including implementation of SAS No. 145 on risk assessment) Recent GASB activities directed toward state and local governments with an emphasis on the implementation of GASB No. 87, Leases The changes that occurred in NFP presentation and disclosure as a result of ASU No. 2020-07 The effects of FASB ASC 842, Leases, on nonprofits

Developing issues related to Yellow Book audits and single audits Key AICPA developments affecting audits of governments and nonprofits (including implementation of SAS No. 145 on risk assessment) Recent GASB activities directed toward state and local governments with an emphasis on the implementation of GASB No. 87, Leases The changes that occurred in NFP presentation and disclosure as a result of ASU No. 2020-07 The effects of FASB ASC 842, Leases, on nonprofits

Outcomes of the recent FASB and IASB Joint Project related to Leases Differentiating between accounting and reporting requirements for operating and finance leases Evaluating possible material misstatement related to lease recognition, measurement, presentation and disclosure

Background of the Dixon, IL fraud case Internal control weaknesses related to the $53 million fraud Lessons learned from this case

ASC Topic 606, Revenue from Contracts with Customers The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements and examples Industry-specific implementation issues and guidance Best practices, lessons learned and opportunities to improve on the reporting of revenue under Topic 606 going forward Accounting considerations related to COVID-19-driven changes to revenue recognition processes

ASC Topic 606, Revenue from Contracts with Customers The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements and examples Industry-specific implementation issues and guidance Best practices, lessons learned and opportunities to improve on the reporting of revenue under Topic 606 going forward Accounting considerations related to COVID-19-driven changes to revenue recognition processes

Tax rules governing liquidation of a partnership or S corporation Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation Tax impact on the pass-through entity when the entity is liquidated Receipt of corporate liabilities in an S corporation distribution Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution Tax issues associated with a partnership distribution of noncash properties in a liquidation Compliance requirements on the occasion of a liquidation of a corporation or a partnership

Professional and ethical conduct requirements specifically applicable to Maine CPAs The core principles of professional conduct -- integrity, objectivity, and independence Recent changes to the AICPA Code of Professional Conduct Principles and concepts which form the foundation of ethical behavior

What it takes to be effective as a manager Exploring the challenges that get in the way Looking at the driving forces that have evolved how managers engage with employees today Motivating employees of multiple generations Twelve practices that can be adopted to influence employees to become more engaged Identifying what it takes to develop employees Delegation and accountability

An overview of current state and federal laws governing marijuana A review of state boards of accountancy regarding marijuana How some financial professionals are capitalizing on the marijuana industry Providing auditing and tax services within the marijuana industry How accountants and other financial professionals can manage risk within this industry IRC Section 280E’s prohibition of deductions involving controlled substances A summary of various state taxation laws on marijuana Ethical issues for accountants who work in the marijuana industry Relevant banking regulations Growth projections

The sources of deferred tax assets and liabilities Calculating the deferred tax asset or liability Reporting income-tax expense and balance sheet items CARES Act accounting implications Defining, analyzing, and reporting uncertain tax positions Classification of deferred tax assets and liabilities Disclosure requirements Recent and proposed changes to the accounting and disclosure requirements for income taxes

The sources of deferred tax assets and liabilities Calculating the deferred tax asset or liability Reporting income-tax expense and balance sheet items CARES Act accounting implications Defining, analyzing, and reporting uncertain tax positions Classification of deferred tax assets and liabilities Disclosure requirements Recent and proposed changes to the accounting and disclosure requirements for income taxes

Introduction to cryptocurrency and key terms   Chronology of cryptocurrency   Virtual currency taxation   Information on any updated guidance

Why accounting and other professionals should use the metaverse Where accountants and other professionals can find their space in the metaverse How the metaverse is changing the way we work

Tips and tricks to prepare the Schedule C Income and expenses Tax invoice preparation Legal invoice Entertainment invoice Education invoice

Business development Types of properties Rental property use  Rental expenses Deductible expenses Repairs and maintenance Capitalization of expenses Depreciation Accounting methods Treatment of security deposits

Using metrics that correctly measure the goals of the organization How metrics will differ for non-profits and governments Using metrics to balance cost and benefit Internal and external benchmarking for comparison Having a set of balanced metrics

PivotTable button Recommend PivotTables button  Quick Analysis feature Summarize as PivotTable button with the Data Model PivotTable values PivotTable Design tab Subtotals and grand totals PivotTable style PivotTable Analyze tab  Keyboard shortcuts Filtering arrows PivotTable structure using the Fields List PivotTable using Slicers A calculated field to a PivotTable using the PivotTable Analyze tab Value Field Settings using a shortcut menu PivotChart button to create an embedded PivotChart Standard Excel charting buttons to create a PivotChart Keyboard shortcut to create a PivotChart on its own chart sheet PivotChart and linked PivotTable simultaneously Chart elements using the Chart Elements button Chart style and color scheme using the Chart Styles button Chart layout using the PivotChart Design tab Individual chart elements using the PivotChart Format tab PivotChart using the Pivot Field buttons Chart type and subtype using a shortcut menu PivotChart fields using the Fields List Row/column orientation using the PivotChart Design tab

Identify basic formula and function syntax Recognize formulas pasted with relative references Select status bar options and sum (AutoSum) for quick calculations Recognize formulas pasted with mixed or absolute references Identify formula results pasted as values Select worksheets for grouping and entering formulas Identify ways to link worksheets and workbooks with 3D formulas Select the insert function button or buttons from the function library to insert functions in formulas Recognize defined names as function arguments Apply conditional formatting to formulas’ results Identify and correct common errors using the trace error icon and the formula auditing tools Identify and correct circular references Select color-coded cell borders to correct a cell reference error in a formula Identify how to step through a nested formula Identify how to use the Watch Window and other tools to analyze, protect, and hide formulas