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Financial & Tax Accounting for S Corporations & Partnerships

  • 06/29/2022
  • 8:30 AM - 4:30 PM
  • Webinar - CPA Crossings

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This program compares and contrasts the financial and tax accounting differences of partnerships, LLCs, and S corporations, as well as discuss the tax accounting for these entities. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

After attending this presentation you will be able to...

  • Distinguish the financial accounting and tax aspect of S corporation and partnerships with special emphasis on accounting for capital accounts

Program Content:

The major topics that will be covered in this class include:

  • Review the Accounting Standards Codification, OCBOA/Special Purpose Frameworks, and AICPA financial reporting framework and their application to partnerships, LLCs and S corporations
  • Financial accounting issues arising from changes in ownership
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting with Forms 1065 and 1120S
  • Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests
  • Deferred tax accounting for partnerships/LLCs and S corporations
  • Financial accounting for the operations of a partnership/LLC
  • Financial accounting impact of the C to S election and the S to C election
  • Financial and tax accounting for S corporation shareholder equity and partner capital accounts
  • Financial vs. tax accounting for loans to and from S corporations and their shareholders

Designed for: CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current.

Level: Intermediate

InstructorSteven C. Dilley, CPA, JD, PhD

Developer:  Federal Tax Workshops, Inc

CPE Credits: 8

Area of Study: Accounting

Prerequisite: Basic working knowledge of financial reporting and partnership and S corporation taxation.


Visit Us:

3100 South Columbia Road
Suite 500
Grand Forks, ND 58201

Contact Us: 

 (701) 775-7111
or (877) 637-2727
Email: info@ndcpas.org

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