Tuesday, Apr 30, 2019
10:00am – 2:00pm
Provide an understanding of the financial accounting aspects of S corporations
Explore the common differences between financial accounting and tax accounting for S corporations.
- Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations.
- Review of OCBOA and its relationship to financial accounting for S corporations.
- Review of the new AICPA "small" GAAP rules.
- The impact of the entity's tax status history on its financial accounting.
- Deferred tax accounting for S corporations.
- Required S status financial accounting disclosures.
- Financial accounting impact of the C to S election and the S to C election.
- The relationship of financial accounting and the Form 1120S.
- Financial and tax accounting for S corporation shareholder equity account.
- Financial vs. tax accounting for loans to and from S corporations and their shareholders.
- Financial accounting vs. tax accounting for S corporation investments in other entities.