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    • 06/06/2022
    • 8:30 AM - 12:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    Current and Upcoming FASB Issues

    This course is designed to provide an overview of recent accounting matters including FASB accounting standards updates broad and narrow issues, current FASB activities, and private company financial reporting. It covers relevant pronouncements, exposure drafts, and other guidance recently issued in the accounting arenas. This course will help practitioners at all levels to remain up to date on recent accounting pronouncements and other important accounting matters.

    Learning Objectives:

    • Identify key points related to recently issued FASB standards and guidance. 
    • Identify key concepts related to exposure drafts and other important projects in accounting matters. 

    Major Topics:

    • Recently issued ASUs, including broad and narrow topics 
    • Current FASB exposure draft and projects 
    • Private company financial reporting 
    • Other important accounting matters  

    Current Audit Environment and ASB Activity

    This course is designed to keep you on top of the latest auditing developments. It covers a full array of topics including current environment and implications for audit planning, pronouncements, and other standard setting activities affecting audit and attestation engagements. This course will bring practitioners at all levels up-to-date on the standard setters' activities and provide examples and illustrations to help apply the guidance in practice. 

    Learning Objectives:

    • Identify current environment and implications for audit planning.
    • Recognize recently issued ASB standards.
    • Recall recent updates and activities related to Statements on Auditing Standards and recently issued SSAEs. 

    Major Topics:

    • Environment and implications affecting audit planning and risk assessment 
    • Key changes in recently issued Statements on Auditing Standards and exposure drafts 
    • Recently issued SSAEs and proposed changes
    Designed For: Practitioners at all levels in public accounting, business, and industry.  

    Level: Intermediate

    Instructor: Thomas Newell

    Developer: AICPA

    Area of Study: 2 Accounting & 2 Auditing  

    Prerequisite: Previous experience in auditing and financial reporting

    • 06/06/2022
    • 8:30 AM - 12:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register
    Want to help your client save money and avoid potential trouble with the IRS? This CPE course explains what may trigger an IRS audit, how to negotiate, settle on appeal, qualify for an IRS collection program and evaluate your client's best options for dealing with the IRS. You will also learn about IRS audit techniques, how to handle requests and appeal rights so you can represent your clients with confidence. 


    Learning Objectives:

    • Evaluate IRS audit trends and the audit selection process. 
    • Determine when IRS requests could be challenged.
    • Identify the timing, scope, and location of various IRS audits. 
    • Recognize IRS audit techniques and inquiries and appeal rights. 
    • Identify how to manage the information document request process and evaluate the contents of a revenue agent report

    Major Topics:

    • The assessment process 
    • Audit selection, examination, and the appeals process
    • Installment agreements 
    • Offers in compromise 
    • Advising delinquent taxpayers 
    • The IRS collection process for tax liens, levy, seizure, and sale 
    • Bankruptcy and the effect on tax liabilities 
    • Practice before the IRS 
    • Business taxation 
    • Tax liens levy seizure 
    • Fund recovery penalty 
    Designed For: CPAs, enrolled agents, and attorneys 

    Level: Intermediate

    Instructor: David Peters

    Developer: AICPA

    Area of Study: 4 Taxes 

    Prerequisite: Experience in business taxation 



    • 06/06/2022
    • 12:30 PM - 4:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    Our Social Security system provides retirement, disability, and survivor benefits to millions of Americans. The long-term future of Social Security and Medicare is uncertain, triggering concerns for many workers who are now paying into the system. Attend this course to learn about FICA, the Medicare tax, and more. You will cover real-world situations and use the tools provided to advise your clients to make optimal decisions when it comes to Social Security and Medicare.  

    Learning Objectives: 

    • Recall the role of the Social Security Administration and how FICA applies to the funding of Social Security, and Medicare benefits. 
    • Identify the benefit eligibility issues.  
    • Determine Social Security benefits and the implications retirement age has on those benefits.  
    • Identify what types of Social Security survivor benefits are available. 
    • Identify the disability income benefits and the multiple factors that can impact those benefits.  
    • Identify coverages and costs associated with Medicare and what it does not cover.  

    Major Topics: 

    • What Medicare will and will not do  
    • Managing Medicare gaps  
    • Analyzing the wide menu of Social Security benefits  
    • Social Security benefits for workers and families: retirement, survivor, disability, and death benefit  
    • Tax impact of social security premiums and benefits  
    • Impact of the 3.8% Medicare surtax on investment income  
    • Recent changes to the Medicare law   

    Designed For: CPAs, professional accountants, and financial advisers  

    Level: Intermediate 

    Instructor: David Peters 

    Developer: AICPA 

    Area of Study: 4 Taxes 

    Prerequisite: Basic knowledge of Social Security and Medicare   



    • 06/06/2022
    • 12:30 PM - 4:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    If you supervise preparation, compilation, and review engagements, this course will help you comply with the professional standards by informing you of the latest developments and issues relevant to these engagements. Learn about the U.S. business economy, peer review, FASB updates, and other areas affecting preparation, compilation, and review engagements. 

    Learning Objectives: 

    • Identify key economic factors and accountant’s responsibility for fraud.  
    • Recognize recent SSARSs, accounting, and reporting developments.  
    • Identify the professional standards and risk factors relevant to the performance of preparation, compilation, and review engagements, including engagements on pro forma and prospective financial information.  

    Major Topics: 

    • 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  

    Designed For: CPA firm seniors (and above) managing engagements performed in accordance with SSARS  

    Level: Update 

    Instructor: Thomas Newell 

    Developer: AICPA 

    Area of Study: 4 Auditing 

    Prerequisite: Experience with engagements performed in accordance with SSARS  

    • 06/07/2022
    • 8:30 AM - 12:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Recent updates to this course include the latest guidance from FASB, industry specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition, as well as disclosure illustrations. 
     

    Learning Objectives: 

    • Recognize principles of FASB ASC 606.  
    • Recognize requirements for identifying a contract under FASB ASC 606.  
    • Recognize performance obligations under FASB ASC 606.  
    • Recognize requirements for determining a transaction price under FASB ASC 606. 
    • Recognize requirements for allocating a transaction price under FASB ASC 606.   

    Major Topics: 

    • 5-step process for recognizing revenue   

    Designed For: Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance 

    Level: Intermediate 

    Instructor: Thomas Newell 

    Developer: AICPA 

    Area of Study: 4 Accounting 

    Prerequisite: Experience in the application of accounting standards 

    • 06/07/2022
    • 8:30 AM - 12:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    The complexity of S corporation tax law creates a formidable challenge to the tax practitioner for accurate compliance and reporting of their client's S corporation activities.  

     Join us as we discuss the common errors practitioners make on S corporation tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including income, deductions, K-1 reporting, and more! This course follows a highly illustrative case study format to increase participant comprehension and retention.  

    Learning Objectives: 

    • Identify common mistakes made on S corporation tax returns.  
    • Determine strategies to avoid making mistakes on S corporation tax returns.   

    Major Topics: 

    • Common errors made involving the following tax forms:  

      Form 1120S  
      • Schedule K-1  
      • Schedule L 
      • Schedules M-1 and M-2  
      • Form 4562  
      • Form 4797  
      • And More!   

    Designed For: CPAs working with clients requiring expertise in S corporation taxation for the current tax season  

    Level: Intermediate 

    Instructor: David Peters 

    Developer: AICPA 

    Area of Study: 4 Taxes 

    Prerequisite: Basic knowledge of S corporation income taxation  



    • 06/07/2022
    • 12:30 PM - 4:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    This course identifies tax planning strategies for small business clients throughout the different life cycles of the business. We will use a case-study approach to explore opportunities for businesses and how the tax practitioner can continue to add value for their clients. Discussions will include traditional and new planning opportunities as a result of the latest tax legislation and IRS guidance.  

    Learning Objectives: 

    • Identify important tax considerations for the small business at each stage of its life. 
    • Differentiate entity type options available for small businesses.  
    • Calculate the Qualified Business Income deduction under Section 199A.  
    • Recognize how depreciation may be used in business tax planning. 
    • Calculate basis for partnerships and S corporations.  
    • Choose the correct tax treatment for fringe benefits granted to partners and S corporation shareholders.  
    • Compare IRS concerns regarding reasonable compensation for an S corporation owner versus a C corporation owner. 
    • Recall the tax treatment of contributions to a business entity by new investors. 
    • Recognize the tax treatment of distributions to small business owners.  
    • Analyze a client’s need for a buy-sell agreement.  
    • Recognize tax issues involved in the exit of a shareholder from a corporation. 
    • Select among ways to dispose of or liquidate a business in a tax-efficient manner.  

    Major Topics: 

    • Starting a business — choice of entity and the tax life of a business  
    • Selecting a business entity type  
    • Section 199A and the Qualified Business Income deduction  
    • Accounting Methods  
    • Self-employment taxes and entity type  
    • Reasonable compensation issues  
    • Depreciation, Section 179, and bonus depreciation planning considerations 
    • Retirement planning  
    • Buy-Sell and Noncompete agreements 
    • Tax considerations when selling a business  
    • Partnership hot assets and other look-through provisions   

    Designed For: CPAs looking for innovative tax planning and savings techniques to solve client problems  

    Level: Intermediate 

    Instructor: David Peters 

    Developer: AICPA 

    Area of Study: 4 Taxes 

    Prerequisite: Basic knowledge of business taxation 


    • 06/07/2022
    • 12:30 PM - 4:00 PM
    • Baymont Inn & Suites - 2611 Old Red Trail - Mandan, ND (701) 663-7401
    Register

    Which leases are within the scope of FASB ASC 842, Leases, and what are the basic accounting, financial reporting and disclosure requirements? This course addresses those questions by focusing on the basic core principles of this new major standard. Discussion includes basic identification, recognition, measurement, presentation and disclosure requirements. Case study exercises are included to illustrate application of the standard.  

    This course discusses the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also discusses the lessor accounting model, including profit recognition and collectability. 

    Learning Objectives: 

    • Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.  
    • Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842.  
    • Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842. 
    • Recognize presentation requirements for lessees and lessors under FASB ASC 842. 
    • Recognize business factors to consider when implementing FASB ASC 842.  

    Major Topics: 

    • Lease classification  
    • Amortization of the lease asset  
    • Derecognition of the underlying asset  
    • Recognition of lease receivables  

    Designed For: Accountants in practice and industry  

    Level: Intermediate 

    Instructor: Thomas Newell 

    Developer: AICPA 

    Area of Study: 4 Accounting 

    Prerequisite: Experience in application of accounting standards 


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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