CPE Catalog & Events

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

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 that will be covered in this class include:Review of all that Adobe Acrobat has to offerOrganizing your PDFs with bookmarks, links, file attachments and moreFormatting the presentation of PDFs with headers, footers and watermarksCreating and processing fillable formsProcessing documents for e-signatureTips for converting email messages, documents and spreadsheets into PDF formatCombining multiple PDF files into a single binder Utilizing the security features of Adobe Acrobat to protect document confidentiality

Accounting and Finance

Sampling ICFR Single Audit Sampling

Managing client expectations How automation improves client engagement Understanding the role of feedback systems Seeking referrals Building client loyalty Customer retention marketing Expanding services offered to clients Knowing when it is appropriate to enter new markets

Types of partnership distributions Liquidating partnership distributions Basis of property distributed by a partnership Special basis adjustments under Section 732(d) Abandoned and worthless partnership interests Section 751(a) exchange Transactions between partners and their partnerships Disguised sales Section 736(a) and (b) payments

What is Business Consulting? Identify the types of Management services your firm could offer. How to become the trusted advisor – identification of client’s needs? Learn how client expectations may create different performance and understanding levels for CPAs in business consulting engagements. Know what it takes to create a valuable outcome for the client. Understand the competitive advantages/disadvantages that your firm has versus non-CPA business consultants. Learn techniques to become a more effective consultant. Professional standards application

Business Management Organization

NAC CECL Leases

Extensive review of the partnership income tax laws with an emphasis on any new legislative changes Comparison of partnerships, LLCs and LLPs Overview the formation of a partnership/LLC and the §704(c) pre-contribution gain or loss rules Schedule K analysis– determine if income statement items are separately (i.e. schedule K) or non-separately stated income and expense items How schedule K items get allocated to partners on schedule K-1s Look at detailed Schedule K-1 information reporting to partners needed for the qualified business income (QBI) deduction, 3.8% net investment income tax and business interest expense limitations Learn the special tax treatment of fringe benefits paid on behalf of the partners and LLC members Comparing the tax and §704(b) book capital account computations Discuss partner guaranteed payments and self-employment tax issues Schedule M-1 – reconciliation of income or loss per books with income or loss per income tax return Schedule M-2 – analysis of partners’ capital accounts Review the importance and basics of calculating a partner/member’s outside tax basis. Overview of the tax treatment of distributions, recourse and nonrecourse debt allocations, §754 election for optional basis adjustments and §743/§734 mandatory basis adjustments

Reporting requirements for Schedules K-2 and K-3 Capital account reporting requirements Schedule K-1 reporting for §743 adjustments Schedule K-1 reporting for §704 gains and losses Comprehensive case on partnership/partner application of the business interest deduction When to use “704(b) basis” for capital accounts versus “tax basis” Detailed rules of §704 for preventing the shifting of tax consequences among partners or members Unreasonable uses of the traditional & curative allocation methods Multiple layers of §704(c) allocations Treatment of recourse versus nonrecourse debt basis How to calculate basis limitations and its implication on each partner’s own tax return How §179 limitations affect partnership/LLC basis Regulations for handling basis step-ups under §754 elections, and mandatory adjustments under §743 and §734 for partnerships who have NOT made the §754 election Subsequent contributions of property with §754 adjusted basis to another partnership or corporation Capital account adjustments in connection with admission of new member Special allocations require "substantial economic effect"; what are the requirements? LLCs and self-employment tax to the members Distributions -- current or liquidating, cash or property including the substituted basis rule Termination/liquidation of an LLC

The major topics that will be covered in this class include:Balance sheet analysisIncome statement analysisCash flow statement analysisClues in the notes and MD&AIndustry nuances

Forensic Accounting Accounting Auditing Finance

The major topics covered in this course include:The reason that entities engage a financial statement auditThe applicable financial reporting frameworks available The various phases of a financial statement auditEvaluating and documenting audit risk, both at the overall and relevant assertion levelCase study differentiating high-risk audit engagements and higher-risk audit areas

Review of New Rules under IRC Sec. 67(g) Review Surprises to Simple Trusts under IRC Sec. 67(g) Presentation Issues with IRC Sec. 199A Deduction and the Tier System Special Rules Relating to the Charitable Contribution Deduction Problem Examples

Mandatory Automatic Enrollment Credit For Small Employer Pension Plan Startup Costs Enhancement Of The Saver’s Credit Increase In Starting Age For RMDs  Indexing IRA Catch-Up Higher Catch-Up Limit Age 61, 62, 63, And 64 Student Loan Payments As Elective Deferrals For Matching Contributions Start Up Credit Costs For Employers Joining An Existing Plan Financial Incentives For Contributing To a Plan Withdrawals For Certain Emergency Expenses SIMPLE Plan changes Starter 401(K) Plans Sec 529 Plan To Roth Rollovers Emergency Savings Accounts Enhancement of 403(B) Plans Qualified Charitable Distributions to Split Interest Entity Retirement Savings Lost and Found

Accounting and financial reporting for Net Pension Liabilities Effect of the Measurement Date New pension standards by Governmental Accounting Standards Board (GASB) Generally Accepted Accounting Principles (GAAP) for government Defined Benefit and Defined Contribution Pension Plans Review and compare data and statistics for CalPERS in 2020 and 2021

DA and BI relationship to accountant value. Current trends in BI and DA, including the emergence of AI tools like ChatGPT. The changing accountant roles: data analyst, data scientist, and data storyteller, with an emphasis on how ChatGPT can be utilized in these capacities. Obtaining datasets to compare and contrast with their organization's data, and how ChatGPT can assist in analyzing and interpreting this data. BI tools and the inclusion of AI technologies such as ChatGPT to streamline processes and improve analytical capabilities.

The major topics covered in this course include:The actuation of online and other cyber fraudsFraudulent acts that are initiated electronicallyAutomated and employee driven methods that can reduce cyber-fraud risk