CPE Catalog & Events

The major topics that will be covered in this class include:Analysis of the AICPA's Enhancing Audit Quality InitiativeTrends in audit qualityLatest on the DOL's audit quality studyPeer review findings and practice tips for achieving high practice qualityAICPA's new SQMS - Overview, implementation considerations, timeline, and AICPA implementation resourcesPCAOB and IAASB quality management standards and the potential impact on AICPA standards

The key requirements, options, and best practices seen in each of the basic financial statements Today’s core accounting and reporting requirements related to contributions and how to effectively and efficiently apply them How to analyze and incorporate the needs of financial statement users into a not-for-profit’s financial statements and disclosures

Overview of preparation, compilation, and review guidance Accounting and reporting issues Current practice issues Common deficiencies in peer reviews Current and future standard setting projects

Trends in financial statement closings including the Quick Close, Soft Close and Virtual CloseReview and discuss information systems' headaches that slow you downWork through examples of close cycle "time killers" and how to resolve themGet inventory and cost of sales under controlIdentify the improvement projects that will yield the biggest benefitReview what leading edge finance managers are doing to close more quickly

SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services -- 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions  SSARS No. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services Sample comprehensive engagement work programs for preparation, compilation and review engagements Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework and other engagement variations Other communication requirements, such as sample engagement letters and management representation letters

Classifying receipts between “income” and “corpus” under the Uniform Principal and Income Act Calculation of DNI utilizing three different methods, a “forms” method (Schedule B), a “code” method, and a “shortcut” method, utilizing a worksheet of common income and expenses Proper W-2 preparation and procedures in the year of death Taxpayer passes before taking a required minimum distribution; what must be done?  Forgetful fiduciaries of simple trusts Fluctuating trusts – Simple one year, complex the next Dividing income in the year of death Overview of Subchapter J Form preparation issues – Filing requirements and line-by-line explanations of Form 1041 Taxable income of estates and trusts and expense allocation issues Specific deductions and miscellaneous itemized deductions Income in respect of a decedent The income distribution deduction calculation Relation of principal and income law to DNI Understanding how to handle capital gains and losses Allocating tax items to beneficiaries: another K-1 Other considerations: excess deductions on termination Effects of the CARES and Tax Relief Acts on trusts: §461(l) Excess Business Loss Limitation, NOL, §163(j) modifications, new employer credits Comprehensive DNI case study, with principal (cost and FMV) and income reconciliation Comprehensive trust and estate case studies, with filled-in forms

Payroll tax requirements for wages, including wages subject to the .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates Special issues -- Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding Statutory employees, independent contractors, and possible changes to §530 relief Penalties -- Who is a responsible person? Expenses and gross-up calculations Pension issues and payroll taxes including SIMPLE plans, and §401(k) and pension distributions The Electronic Federal Tax Payment System (EFTPS) Forms I-9, W-9, W-2, 1099, 1099-NEC, SS-8, and 940 Understanding payroll tax responsibilities in the gig economy

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, and Premium Tax Credit Comprehensive coverage of the SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, and New Exceptions to Penalty-Free Withdrawal from Retirement Plans Timely coverage of breaking tax legislation New Form 1099-K reporting requirements Detailed analysis and examples of Sale of Passthrough Entity Interest and Net Investment Income Tax Residency and Domicile Selling a principal residence, including tax planning strategies Real Estate professional requirements Virtual currency, including recent developments regarding NFTs Review of pertinent cases and rulings affecting taxpayers 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:AICPA auditing standards issued during the 18-month period prior to the program that impact audits of Small- and Medium- sized entities (SMEs)The new SAS 145 risk assessment requirementsThe new SAS 134 as amended audit reportsHow to fulfill responsibility to detect fraud under AU-C Section 240How to help clients design, implement and maintain their internal controlsTroublesome areas in the audits of Small- and Medium-sized Entities (SMEs) as identified in peer reviews and litigationHow to perform profitable audits of Small- and medium-Sized Entities (SMEs)

The major topics that will be covered in this class include:The importance of valuesIdentifying successEthical dilemmasMitigation strategiesCreating tools to help make better decisionsPersonal accountability strategies

Basis and at-risk basis How to calculate the amount of annual at-risk basis Forms 6198 and 7203 When activities may be aggregated for at-risk purposes Qualified nonrecourse financing

Compensated Absences Financial Reporting Model 2024 Compliance Supplement Yellow Book Quality Management

Revisions to AS 2501 New requirements of AS 1210 The audit with other auditors

The major topics that will be covered in this class include:Recent cybersecurity attacks, their implications, and how weak cybersecurity controls enabled their successSpecific cybersecurity controls that help prevent fraud and support data integrity of financial reportsHow an effective cybersecurity program is needed to reduce losses, prevent fraud, avoid reputational damage, and protect critical data assets

An explanation of Artificial Intelligence (AI) Specific ways AI is replacing human cognition What is on the internal control horizon related to AI and other technologies

The major topics that will be covered in this course include:GASB 100, Accounting Changes and Error Corrections.GASB 101, Compensated Absences.GASB standards coming down the pike.

Taxation of investments Reporting of business income and losses from pass-through entities including loss limitations Non-income taxes that impact individual income tax returns Retirement contributions and planning Alternative Minimum Tax (ATM) Social Security taxation Charitable contribution planning with limitations

The major topics covered in this course include:Clarifying and communicating the unique value you provide to your chosen market.Choosing the market(s) you will be successful serving.Developing a successful go-to market and subsequent demand and lead gen strategy.Creating an easy to maintain customer nurture, demand and lead generation system.Determining your marketing budget, goals, objectives, and the right tactics to choose in order to support them.

The major topics covered in this course include:Importance of quality control on auditsWhy engagement budgets are not used, and how to overcome the barriers to successDetermining useful budget amounts to use as a toolBetter engagement scheduling tips for improved efficiencyMaking sure the client is ready on the first day of the auditDelegating for professional development and leveraging audit hoursHandling difficult delegation scenariosBetter engagement wrap-up tips and techniques

FASB accounting standards updates in financial instruments and leases Current Expected Credit Loss (CECL) module Lease obligation