CPE Catalog & Events

The major topics that will be covered in this course include:The basics needed to understand what makes nonprofit and governmental accounting & auditing unique. The key financial reporting differences for governmental and nonprofit entities.The fundamentals of Yellow Book and Uniform Guidance audits.

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB’s Technical Agenda Leases – Topic 842 ASC 326: CECL Review of SAS 142 – Focus on Audit Evidence Recently issued SASs and other AICPA activity SSARS No. 25 and other recently issued SSARS Detailed review of SAS 145 Other important A&A practice matters

Review an error-prone "staff-prepared" Form 1040 from client-provided information. Where do you start? Get to know your client and ask the questions Several new reporting issues for the reviewer to consider, including the main credit provisions as enacted under the American Rescue Plan What are common errors preparers make and what are the areas generating malpractice claims? The importance of engagement letters, questionnaires, and §7216 permission statement Initial administrative groundwork Identifying organizing issues in the tax return to be reviewed Avoiding “willful blindness.” Handling ethical and moral dilemmas Efficient review of certain advanced issues for income, adjustments, deductions, and credits Effective procedures for delinquent clients, filing past-due tax returns First-time client issues requiring extra scrutiny Multiple checklists of efficient procedures to identify potential issues on a 1040 return Listing of schedules for staff to prepare to make a review easier, including basis issues for 1040 clients Reconciling time pressure with thoroughness and quality control Professionals acting professionally

Key requirements, options, and disclosures related to each of the basic financial statements The reporting of functional and natural expense information Requirements related to providing liquidity and availability of financial assets information Core not-for-profit requirements related to conditional and unconditional contributions, promises to give, contributed services, net assets, special events, the classification of expenses, and more The impact of FASB ASC 842, Leases, on not-for-profits

Comprehensive coverage of the Inflation Reduction Act, including: The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance Timely coverage of breaking tax legislation Form 1099-K reporting requirements Detailed analysis and examples of Sale of Pass-through Entity Interest and Net Investment Income Tax The Gig Economy -- Tax implications, Independent Contractor vs. Employee Classification, and the 2024 DOL Final Rule New FinCEN reporting requirements under the Corporate Transparency Act in 2024 Employee Retention Tax Credit updates Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates,retirement contributions, and more Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas

The major topics covered in this class include:When Schedule C appliesCash v. Accrual methodTypical business deductionsBusiness vehicle expensesSection 179 and bonus depreciation

Team dynamics Influence Organizational behavior Leadership

You'll Learn: What behaviors detract from the value that you bring to the table and negatively influence the respect your staff and colleagues have for you. What your body language may be communicating about your overall confidence, capability, and self-assuredness You'll Find: More effective ways to communicate as a female leader Skills to display and communicate confidence while inspiring trust and increasing credibility

The major topics covered in this class include:The authority of Circular 230 on return preparersThe possible penalties for violating Circular 230How to answer ethical situations with clientsCharacteristics of return preparers who prepare false tax returnsHow to identify the violations in real life examples

The difference between personal power and positional power How proper use of power can be used to influence an ethical culture Leadership requires trust Knowing why trust cannot exist without credibility Understanding why ethics and trust require one another Appreciating the competitive benefits of commitment to ethical leadership

How to read and complete Parts II and III for Foreign Tax Credit Practical tips on how to tackle Parts IV and IX for corporate partners How to correctly fill out Parts X and XIII for foreign partners Comprehensive examples for operating, real estate rental, and investment partnerships with filled-in sample forms

Reasonable compensation Fringe benefits for S corporation shareholders Built-in gains tax Excess passive income tax Notice 2020-75: PTE elections

Preparation by hand of a reasonably complicated Form 1120 U.S. corporate income tax return from trial balance to completed return The importance of Schedule M-1, including many adjustments in reconciling book income to tax income, and items preparation staff may look for on all business returns. Learn to self-review New tax-planning strategies for depreciation deductions, including changes to §179 and first-year depreciation (Section 168(k)) as a result of recent tax legislation Methods of accounting -- Application and choices In-depth analysis of Form 4797 dealing with depreciation recapture Deductible expenses -- including rules on meals and entertainment Section 163(j) Computation of tax liability Overview of many common business deductions; which are deductible and which are M-1 items? How to practically handle uniform capitalization and inventory accounting for a small manufacturing concern And much more

Comprehensive coverage of the Inflation Reduction Act of 2022 and The SECURE Act 2.0  Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms  Coverage of Form 7203  Coverage of §199A qualified business income, its calculation, limitations, and examples  Dividends and interest – Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.  Security transactions – From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues  Self-employed person issues  Schedule C deductions including depreciation  Sale and exchange of property – Understanding Form 4797 and depreciation recapture; capital gains  A working understanding of passive losses – How to handle rental property and how the passive loss rules flow to the tax forms  Itemized deductions – A thorough understanding of what’s deductible and what’s not  Interest deductions – Limitations and timing problems  Charitable contributions substituting for taxes, IRS says – No!  Retirement contributions and education credits and deductions  Tax computations – The Kiddie Tax, AMT, regular tax, tax credits  Individual problems illustrated by form preparation for various items, with numerous “practice tips”  Impact of recent legislation and forms changes on the 1040 

Major topics covered in this course include:Recognize why internal fraud occursPolicies, procedures, and control measures designed to fight fraud

The audit risk model Risk assessment Linking risks to audit procedures Other responses to risks Documentation

Court decisions covering partnership issues such as TEFRA, Statute of Limitations, Economic Substance, and Sec. 754 Elections IRS updates on Form K-2 and K-3 Criteria for using the Domestic Filing Exception

The major topics covered in this course include:Differentiating between managing and leading, while highlighting the importance of eachAssessing your own natural management and leadership styleAdapting management and leadership styles to the specific circumstancesBecoming a catalyst for positive changeOvercoming barriers to successfully managing and leadingSuccessfully engaging in difficult conversations to minimize performance issues and conflict

Tax exemption and the many types of tax-exempt organizations Private foundation versus public charity Form 990, Form 990-EZ, Form 990-N, Form 1023 and Form 1024 Intermediate sanctions, private inurement and private benefit Public support Unrelated business income tax, including Final Treasury Regulations Special rules, for advertising, bingo and trade shows Update on recent developments

The major topics that will be covered in this class include:Tour of the Power BI Desktop Interface: Understand the layout, tools, and features of Power BI Desktop.Tour of PowerBI.com Interface: Familiarize with the online environment of Power BI for report creation.Importing Power Pivot Data Model: Understand how to integrate Power Pivot models into Power BI for more complex data analysis.Building Visuals: Learn the step-by-step process to create compelling visuals and understand the importance of visual context in data storytelling.Review of Available Visuals: Explore the variety of visuals available in Power BI and their appropriate applications.Power BI Desktop Features: Delve into the advanced features of Power BI Desktop, enhancing data manipulation and visualization capabilities.Building Interactivity into Visuals: Learn to create dynamic and interactive reports that engage and inform.Publishing Reports to PowerBI.com: Gain skills in uploading and managing reports on PowerBI.com for wider access and collaboration.