Kaplan will work with your organization to customize a learning solution for accounting continuing education that meets your priorities and the needs of your staff. We know that a live seminar program is only as good as the practitioners who design and deliver it. Our expert instructors bring live seminars directly to your organization, offering decades of practical experience and a broad range of opinions to ensure complete coverage of multiple topic areas.
Browse CPE Courses for your Private Live Class
2023 Current Practice Issues and Update for Audits of Employee Benefit Plans
The Department of Labor (DOL) oversight and monitoring of audit quality have intensified and will continue for employee benefit plan (EBP) audits for the foreseeable future. EBP audits present myriad practice issues and risks that practitioners must address. This advanced course provides guidance and best practices in planning, performing, and documenting these audits. The course will discuss skills and knowledge to:
- Stay current on regulatory initiatives, findings, and actions
- Identify and address recurring difficult and complex accounting, auditing, and financial reporting issues in EBP engagements
- Effectively perform required auditing procedures
- Document evidence obtained to support the opinion
- Identify deficiencies and focus on best practices
- Report prohibited transactions Participants will be able to:
- Address and implement current ASU (FASB) updates
- Identify current auditing issues with common-sense solutions
- Prepare adequate and sufficient audit documentation that will satisfy the professional standards for documentation and the DOL
- Avoid mistakes and deficiencies in financial reporting and disclosures noted by DOL Audit Quality Study and Peer Reviews
Prerequisites/Advanced Preparation: Experience in conducting audits of employee benefit plans.
2023 FASB and AICPA Update
For over 30 years, the FASB and AICPA Update has been the most popular course among all of our seminars. This course is a must to keep professionals on top of the continuing changes in the accounting profession. Whether these changes are in accounting technical standards or professional standards, the course authors will provide practical guidance including standards’ review and implementation guidance where appropriate.
Participants will be able to apply the changes and discuss the issues surrounding recently issued accounting, auditing, preparation, compilation and review pronouncements, and relevant proposals.
Prerequisites/Advanced Preparation: Basic audit and accounting course or experience
Section on auditing standards qualifies for the 24-hour Yellow Book requirement. Section on specific accounting standards qualifies for the 24-hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Accounting and Auditing Update
This program is a must to keep CPAs, accountants, and financial professionals on top of the changes they need to know to be effective. The course authors evaluate and emphasize those changes with broad application and develop detailed practical guidance and illustrations.
Participants will be able to apply the provisions of recently issued accounting, auditing, preparation, compilation, and review pronouncements.
Prerequisites/Advanced Preparation:
- General accounting or auditing knowledge Section on auditing standards qualifies for the 24-hour Yellow Book requirement.
- A section on accounting standards qualifies for 24-hour Yellow Book requirement if an auditor has FASB Yellow Book clients.
- A determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients.
Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Accounting for Income Taxes
The requirements of U.S. GAAP can be overwhelming for professionals responsible for the preparation of financial statements. ASC 740, Income Taxes, provides guidance on how to account for income taxes. This program presents the latest guidance on the implementation of the standard, including examples and the effects of the Tax Cuts and Jobs Act. Participants will be able to:
- Calculate income tax expense
- Calculate deferred taxes
- Adjust tax expenses based on newly effective rates and laws
- Properly present taxes on the balance sheet and income statement
Prerequisites/Advanced Preparation: None
Accounting for Special Purpose Acquisition Companies
In recent years, SPAC have gained popularity, setting new highs for number of SPACs transactions and dollar-value of SPAC transactions. More than $70 billion was raised by SPACs in 2020, nearly five times the previous high of $12 billion in 2019. Understanding SPACs is important for companies making acquisitions and participating in public securities markets.
Participants will be able to:
- Define SPACs and their role at a basic level
- Present SPACs investments on financial statements
- Prepare SPACs disclosures
- Follow the U.S. Securities and Exchange Commission’s SPACs review approach
- Assess technical accounting for SPACs
Prerequisites/Advanced Preparation: None
Accounting for Variable Interest Entities
The requirements of U.S. GAAP can be overwhelming for professionals responsible for preparing financial statements. Topic 810, Consolidation, provides guidance on consolidations, specifically variable interest entities. This program presents the latest guidance on the implementation of the standard, including examples.
Participants will be able to:
- Recognize related party leases and how they impact consolidations
- Present consolidated financial statements that include variable interest entities
Prerequisites/Advanced Preparation: None.
Accounting, Auditing, and Tax Considerations for the Cannabis Industry
States have been passing legislation that legalizes cannabis for medicinal and recreational use, and the producers and retailers in this industry have been growing. Accounting and financial professionals are now tasked with navigating the often contrary state and federal laws. With cannabis being classified as a Schedule 1 controlled substance under the Federal Controlled Substances Act of 1970 and subject to federal prosecution but allowed to be sold in an increasing number of states, what are the major accounting and tax issues (federal and state) that impact this industry? This course will provide the basic guidelines that accounting professionals need to know to offer services in the cannabis industry.
Participants will be able to:
- Recognize state reporting rules for a cannabis business
- Recognize federal reporting rules for a cannabis business
- Properly account for a cannabis business
- Identify and implement appropriate internal controls for a cannabis business.
- Differentiate federal income tax issues between an ordinary business and a cannabis business
- Use knowledge of IRC Section 280E to determine what deductions are not allowed for a cannabis business.
- Identify and apply various state and local tax issues that apply to the sale of cannabis
Prerequisites/Advanced Preparation: Basic auditing, accounting, and tax experience.
Adding Value for Clients via Retirement Programs
Advanced Cybersecurity Awareness in Accounting - What You Need to Know
Over 9 billion data records have been lost or stolen since 2013. With a frequency of almost 5.5 million records exposed daily, it is no longer a question of whether a firm has been compromised but more of when it will happen. Does your team have the cybersecurity knowledge and auditing skills to prevent or mitigate the next big breach? In this course, participants will learn the basics of cybersecurity awareness and safeguarding sensitive data, how to address cybersecurity threats within a firm, and how to use AICPA best practices to manage and obtain assurance of cybersecurity risks. By its conclusion, participants will know how to address cybersecurity threats with reasonable assurance in audit engagements.
Participants will be able to:
- Explain the cybersecurity threat landscape and its economic costs
- Identify evolving state regulatory and legal rules related to cybersecurity
- Apply the core principles of cybersecurity awareness to limit cybersecurity risk
- Describe the AICPA’s cybersecurity risk management framework and CPA responsibilities
- Provide reasonable assurance related to third-party consultants and cloud providers
- Educate the firm and clients on cybersecurity basics, risk management, and best practices
Prerequisites/Advanced Preparation: Web browsing and email experience.
Advanced Partnership Issues: Partnership Allocations
Partnerships are incredibly flexible tax devices, allowing many options in determining what appears on each partner’s K-1. IRC Sections 704(b) and (c) determine, in combination with the partnership agreement, the numbers that appear on each partner’s Schedule K-1. In this course, we’ll look at a CPA's responsibilities in calculating the proper allocations to each partner. We’ll look at the mandatory adjustments for pre-contribution built-in gains or losses of each partner and the requirements to have partnership special allocations respected. Participants will be able to:
- Recognize when the mandatory rules of Section 704(c) apply to contributions of property to a partnership
- Calculate proper allocation under each of the three safe-harbor methods of handling Section 704(c)
- List the requirements for an allocation to have a substantial economic effect under the partnership regulations
Prerequisites/Advanced Preparation: Experience in partnership taxes
An Overview of the SEC's Financial Reporting and Disclosure Requirements
Oversight by the SEC of public company financial reporting is critical in maintaining an efficient market for investors by providing accurate and truthful information about reporting entities, the securities they are selling, and the risks involved in investing. This course is designed to provide participants with an overview of the laws that govern the securities industry including the financial reporting and disclosure requirements established by the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended. This program will make extensive use of the SEC’s Financial Reporting Manual for the selection of program topics. This program was developed and will be presented from the perspective of the practitioner preparing and disclosing public company financial information necessary to comply with SEC regulations. Public company disclosure examples will be illustrated throughout this program.
Participants will be able to:
- Describe the securities laws that regulate the issuance and trading of securities
- Identify and describe the filing requirements for form S-1 for registration statements
- Identify and describe the filing requirements for forms 10-Q, 10-K, and 8-K
- Apply the guidance in the SEC’s Financial Reporting Manual to selected topics of more relevance to practitioners
Prerequisites/Advanced Preparation: Basic knowledge of U.S. GAAP
Analytical Procedures Workshop
Analytical procedures (APs) are utilized for different purposes and can be the most cost-efficient of accounting procedures. Interestingly, they are the least utilized, and efficiencies are lost. Understanding the types uses, and purposes are misunderstood by many accountants, as evidenced by continual peer review deficiencies. This course is a must for anyone needing to understand analytical procedures' use, application, and benefits.
This course will provide participants with hands-on techniques for performing analytical procedures as required by the standards in an engagement. Participants will develop the skills and knowledge to utilize analytical procedures.
Prerequisites/Advanced Preparation: None Qualifies for the 24-hour Yellow Book requirement. The determination of the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients.
Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Analytical Procedures for Reviews and Audits
There’s no question that analytical procedures (APs) require a great deal of judgment in deciding just how much “digging” must be done to develop expectations and evaluate fluctuations and other anomalies that are discovered. It’s also true that analytical procedures require a thorough understanding of the client’s operations. However, these two characteristics are exactly why analytical procedures can be effective evidence on reviews and audits and a strong tool for increasing efficiency.
This program is designed to clear up misconceptions in implementing professional performance standards and increase effectiveness and efficiency in the performance of analytical procedures. Participants will be able to perform and document analytical procedures appropriately for reviews and audits
Prerequisites/Advanced Preparation: None
Analyzing Financial Statements
Professionals, including corporate management, loan officers, investors, suppliers, customers, and auditors, use financial statement analysis to perform their daily responsibilities. This program focuses on financial statements and the analysis of financial statements utilizing cases to assess profitability, liquidity, and resource management efficiency. We conclude with discussions of non-GAAP performance measurements, forecasting, and valuation. Participants will be able to:
- Describe the different financial statement users and their information needs
- For each financial statement—Balance Sheet, Income Statement, and Cash Flow Statement—identify characteristics, alternatives, and risks associated with specific financial statement elements.
- Perform financial statement analysis using best practices and various cases
- Compare financial statements of companies in the same industry and the same company across different periods.
- Explain the importance of using a company’s MD&A for effective financial statement analysis
Prerequisites/Advanced Preparation: None
Analyzing Financial Statements
Many professionals, including corporate management, loan officers, investors, suppliers, customers, and auditors, use financial statement analysis to perform their daily responsibilities. This program focuses on financial statements and the analysis of financial statements utilizing cases to assess profitability, liquidity, and resource management efficiency Participants will be able to:
- Describe the different financial statement users and their information needs
- For each financial statement—identify characteristics, alternatives, and risks associated with specific financial statement elements
- Perform financial statement analysis using best practices and various cases
- Compare financial statements of different companies in the same industry and the same company across different time periods
- Explain the importance of using a company’s MD&A for effective financial statement analysis
Prerequisites/Advanced Preparation: None
Analyzing Financial Statements - A Guide
All accounting and financial professionals know how to analyze financial statements. Recent company examples of improper revenue recognition, low earnings quality, and cash flow issues emphasize the importance of understanding financial statement relationships beyond traditional accrual analysis methods. This program covers analysis techniques that identify unusual or unexpected financial statement relationships and emphasizes cash flow analysis and industry data.
Participants will be able to:
- Perform financial statement analysis using best practices and various cases
- Compare financial statements of different companies in the same industry and the same company across different periods
Prerequisites/Advanced Preparation: None
Arizona Accountancy Ethics (with Emphasis on Tax Practice Issues)
CPAs in tax practice face unique issues when applying the Arizona state accountancy law and regulations and the AICPA Code of Professional Conduct. This program is meant to take the tax practitioner through governing state law, state board regulations, and the AICPA Code of Conduct, pointing out those areas that create issues in tax practice. This program helps you meet the "best practices" standard, other ethical standards, and regulatory requirements. It will also include a discussion of privileged communication, and various penalties that apply to tax practitioners Participants will be able to:
- Apply state accountancy laws and regulations to tax practice.
- Consider the implication of Circular 230 as it is referenced under Arizona state rules and its interaction with Arizona law, rules, and the AICPA standards.
- Avoid unnecessary exposure to penalties and malpractice claims in your tax practice.
Prerequisites/Advanced Preparation: None
Arizona Income Tax Update and Overview
The Arizona Income Tax Title in the Arizona Revised Statutes creates its own unique issues, borrowing from the Internal Revenue Code many times but also introducing its unique issues. This program will look at the structure of the Arizona income tax, with an emphasis on recent developments and changes in the law. The course manual will be based on the 2021 Arizona Income Tax Guide, which will also serve as a reference guide for Arizona's 2020 income tax return preparation. Participants will be able to:
- Learn the structure of the Arizona income tax as it applies to individuals, corporations, S corporations, partnerships, trusts, and estates.
- Learn about the various credits made available against Arizona taxes.
- Understand the problems and issues related to "conformity" that will arise each year under the Arizona state constitution.
- Understand recent developments, emphasizing legislation passed in the current and previous legislative sessions.
Prerequisites/Advanced Preparation: None
Asset Based Lending
This course familiarizes the user with the basics of an asset-based lending agreement, typically entered into by companies as a source of short-term funds. The user will learn about the purpose of the asset-based lending agreement and what assets are normally included and excluded from such agreements, and the restrictions typically placed on the debtor in such agreements. Participants will be able to:
- Define what an asset-based agreement is and its basic terms
- Indicate the assets typically determined eligible and ineligible for such an agreement
- Identify the restrictions typically placed on the debtor by the lending bank
- Determine the lending bank’s objectives and requirements in completing the asset-based agreement
Prerequisites/Advanced Preparation: None.
Assisting the Survivors - CPA's Role in the Decedent's Estate
CPAs are comfortable dealing with one of the two things in life but are not necessarily ready to deal with other certainties aside from taxes and death. When a client dies, the CPA is most often placed in the position of assisting the survivors in handling the various issues of the decedent’s estate. This course looks at the various roles and issues a CPA will need to understand in assisting the survivors following a death. Participants will be able to:
- Counsel survivors regarding issues arising following the decedent’s passing
- Handle issues involved with dealing with trusts arising from the estate
- Handle estate/trust accounting under the applicable principal and income act
- Deal with post-death estate tax issues, including portability, disclaimers, and estate tax returns
- Recognize state income tax issues arising from an estate and related trusts
- Understand the exposures a CPA faces when advising survivors
Prerequisites/Advanced Preparation: General tax knowledge
Bank Secrecy Act of 1970 Including Anti-Money Laundering
Congress passed the Bank Secrecy Act (BSA) in 1970 as the first law to fight money laundering in the United States. The BSA requires businesses to keep records and file reports determined to be useful in criminal, tax, and regulatory matters. The documents filed by businesses under the BSA requirements are heavily used by law enforcement agencies, both domestic and international, to identify, detect, and deter money laundering, whether it is in furtherance of a criminal enterprise, terrorism, tax evasion, or other unlawful activity Participants will be able to:
- Describe the Bank Secrecy Act and its requirements
- Identify and describe the various anti-money laundering acts
- Describe the minimum requirements for an anti-money laundering compliance program
Prerequisites/Advanced Preparation: None
Blockchain Essentials - Impact on Modern Accounting
You may think of bitcoin as another investment currency, but its underlying technology has much wider implications. Since its 2008 inception, blockchain has threatened to upend the accounting profession by offering unprecedented reliability and transparency to standard transactions. Blockchain adoption is growing steadily among multinational organizations and is now poised to revolutionize the entire financial industry. In this course, participants will learn the history behind blockchain technology and its major components and how blockchain is shaking up industries and revolutionizing how transactions are performed. Participants will be able to:
- Explain blockchain technologies
- Define the benefits, challenges, values, and opportunities available in the blockchain
- Distinguish cryptocurrencies from other blockchain technologies and uses
- Identify regulatory, governance, and compliance risk surrounding blockchain
- Review accounting and auditing considerations related to blockchain
Prerequisites/Advanced Preparation: None.
COSO Framework - Part I
In this course, participants will learn about the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework, including the definition of internal control, the framework’s objectives, components, and principles, the meaning of effective internal control, and the limitations of internal control. Virtually all public companies follow the COSO framework to comply with Sarbanes-Oxley. Participants will be able to:
- Develop a basic understanding of the provisions of the COSO framework
- Define internal control and what is meant by an effective internal control system
- Define and illustrate examples of key controls
- Recognize the importance of entity-level controls and their influence on internal control at the activity level
Prerequisites/Advanced Preparation: None
COSO Framework - Part II
In this course, participants will learn about the COSO framework by focusing on the framework’s objectives, components, relevant principles, and points of focus. The five components of internal control are linked to the 17 principles and the 77 points of focus to explain and illustrate how the relevant principles and points demonstrate an effective internal control system.
Participants will be able to:
- Define internal control and what is meant by an effective internal control system
- Identify the three primary COSO framework objectives (operations, reporting, and compliance)
- Recognize the COSO framework’s components, relevant principles, and points of focus and how they interrelate to demonstrate an effective system of internal control
Prerequisites/Advanced Preparation: None.
Cloud Services
94% of enterprises use a cloud service, according to a January 2021 article in the Hosting Tribunal by Nick Galov. In 2019, the average business organization used 1,935 distinct cloud servers, according to Tech Wire Asia. And according to TechHQ.com, U.S. market spending on cloud services was $142 billion in 2020. With such statistics, it’s becoming increasingly important to understand this technology. In this course, participants will learn the basics of Cloud services, recognize the obligations of the Cloud customer and the Cloud Service Provider, differentiate between Cloud types and service models, observe Cloud risks, and understand major privacy laws and their relation to Cloud services.
Participants will be able to:
- See the pros and cons of migrating to the Cloud
- Understand public, private, and hybrid Cloud types
- Differentiate Cloud Service Models: IaaS, PaaS, SaaS
- Be aware of how major privacy laws applicable to the Cloud
- Recognize Cloud best practices
Prerequisites/Advanced Preparation: Prior exposure to technology in accounting/auditing.
Cloud Services
94% of enterprises use a cloud service, according to a January 2021 article in the Hosting Tribunal by Nick Galov. In 2019, the average business organization used 1,935 distinct cloud servers, according to Tech Wire Asia. And according to TechHQ.com, U.S. market spending on cloud services was $142 billion in 2020. With such statistics, it’s becoming increasingly important to understand this technology. In this course, participants will learn the basics of Cloud services, recognize the obligations of the Cloud customer and the Cloud Service Provider, differentiate between Cloud types and service models, observe Cloud risks, and understand major privacy laws and their relation to Cloud services.
Participants will also learn cybersecurity terms and definitions as part of the course.
Participants will be able to:
- List the pros and cons of migrating to the Cloud
- Define public, private, and hybrid Cloud types
- Differentiate Cloud service models: IaaS, PaaS, SaaS
- Recognize key risks involved with Cloud computing
- Discuss how major privacy laws apply to the Cloud
- Highlight Cloud best practices and compliance
- Understand cybersecurity terms applicable to the Cloud
Prerequisites/Advanced Preparation: Prior exposure to technology in accounting/auditing.
Communication as a Team
This course aims to show the user how successful employee teams can communicate in modern organizations. This course will discuss the importance of communicating in a team-oriented environment, phases of team development, the role of conflict within teams, characteristics of successful teams, techniques for organizing team-based presentations, the importance of listening in teams, and non-verbal communication techniques.
Participants will be able to:
- Define the four phases of team development
- Recognize the role of conflict within teams
- Identify the characteristics of successful teams
- Specify non-verbal communication techniques
- Define the importance of listening in teams
Prerequisites/Advanced Preparation: None.
Communication at Work
This program introduces the user to the process and the products of effective communication. The program walks the user through the fundamentals of both interpersonal and organizational communications as well as provides the user with a solid grounding in business ethics.
Participants will be able to:
- Identify changes in the workplace and the importance of communication skills
- Define the process of communication
- Recognize barriers to interpersonal communication and the importance of overcoming them
- Determine the flow of communication in organizations, including barriers and the methods for overcoming those barriers
- Recognize the goals of ethical business communication and describe important tools for doing the right things
Prerequisites/Advanced Preparation: None.
Compilation and Review Practice Guide
Compilation and review issues have dominated the profession during the past few years. This program addresses these changes and current performance requirements in the compilation and review literature such that practitioners will be able to perform these services in compliance with SSARS while applying best practices for both efficiency and effectiveness.
Participants will be able to:
- Identify the performance requirements in the SSARS standards
- Effectively perform compilation, review, and preparation engagements utilizing the most recent guidance in effect.
- Efficiently document compilations and reviews
- Identify best practices when performing compilation and review engagements
- Address special purpose frameworks when performing compilation and review engagements
Prerequisites/Advanced Preparation: Basic familiarity with SSARs standards
Compilation and Review Practice Guide
A scaled-down version of our popular 8-hour Compilation and Review Practice Guide. Compilation and review issues have dominated the profession during the past few years. This program addresses these changes and current performance requirements in the compilation and review literature such that practitioners will be able to perform these services in compliance with SSARS while applying best practices for both efficiency and effectiveness.
Participants will be able to:
- Identify the performance requirements in the SSARS standards
- Effectively perform compilation, review, and preparation engagements utilizing the most recent guidance in effect.
- Efficiently document compilations and reviews
- Identify best practices when performing compilation and review engagements
- Address special purpose frameworks when performing compilation and review engagements
Prerequisites/Advanced Preparation: Accounting experience
Consolidations and Business Combinations
Consolidation accounting has changed significantly in recent years due to the concept of variable interest entities (FIN 46). Today, consolidation can occur based on control other than majority ownership and one company having majority ownership of another, creating additional complexity for consolidation accounting and disclosures. Since 2009, FASB has issued several ASUs in an attempt to clarify the accounting for consolidations. This program addresses consolidation requirements based on the FASB guidance in Topic 810, Consolidation. In addition, the accounting for a business combination has also changed due to the issuance of FASB 141, Business Combinations, which changed the accounting for acquisition from purchase accounting to acquisition accounting. This program will address acquisition accounting based on the FASB guidance in Topic 805, Business Combinations.
Participants will be able to:
- Describe the U.S. GAAP guidance for consolidations and business combinations
- Distinguish between consolidation based on majority ownership and consolidation based on control (VIE accounting)
- Apply accounting guidance to issues such as primary beneficiaries, variable interests, non-controlling interests, step acquisitions, goodwill, and fair value
- Apply consolidation and business combination guidance through several workshop cases
Prerequisites/Advanced Preparation: Basic knowledge of US GAAP
Cryptocurrency Accounting
This course provides an overview of cryptocurrency basics and uses cases. Learn the latest trends in crypto applications and the current state of accounting applications of cryptocurrency. It will cover the appropriate accounting for cryptocurrency and address some of the challenges in accounting for cryptocurrency.
Participants will be able to:
- Identify the various forms of cryptocurrency
- Give examples of cryptocurrency use cases
- Point out the latest trends in cryptocurrency applications
- Account for cryptocurrency
Prerequisites/Advanced Preparation: None
Cultural Awareness in Business
The 21st century has ushered in the era of the global marketplace. Technology has rapidly accelerated our capacity to work in a multinational environment. Understanding the individual and business climate of professionals in the United States is central to any overseas initiative.
- Participants will learn vital knowledge and best practices to apply when conducting business in the US.
This course provides learners with vital knowledge and best practices when conducting business in the US. Participants will learn vital knowledge and best practices when conducting business in the US.
Prerequisites/Advanced Preparation: None
Current Expected Credit Losses
FASB ASC topic 326, Financial Instruments-Credit Losses, significantly impacts all reporting entities across all industries because it applies broadly to financial instruments, including accounts receivable. It also has far-reaching implications for companies because it impacts operations, data management, and internal controls over financial reporting. This course will offer tips on complying with the guidance and what the appropriate governance is related to the guidance in this Topic participants will be able to:
- Describe the FASB’s financial asset investments approach
- Account for off-balance-sheet credit exposures
- Apply the CECL model
- Properly present and disclose credit loss estimates
- Establish good governance
Prerequisites/Advanced Preparation: None
Current Federal Tax Developments
This fast-paced, one-day course covers the latest developments in federal taxation, updated bi-weekly, emphasizing real-world applications. The program offers an in-depth discussion of important items covered during the preceding 12 months on Kaplan’s Current Federal Tax Developments website. Emphasis on current issues, planning, and strategy keeps participants interested all day. Participants will learn how to avoid penalties, use IRS Frequently Asked Questions to answer tough questions relating to new laws, and plan with regulations. The course will guide other issues, such as recently passed legislation.
Participants will be able to:
- Understand and work with tax law changes
- Analyze court decisions, IRS notices, revenue rulings, and revenue procedures for application to clients’ tax planning and compliance
- Be aware of IRS audit issues
- Assess pending legislation
- Anticipate and create opportunities for tax reduction
- Avoid penalties IRC Sec. 6662 imposes on careless taxpayers
Prerequisites/Advanced Preparation: General tax knowledge
Current Federal Tax Developments
This fast-paced, one-day course covers the latest developments in federal taxation, updated bi-weekly, emphasizing real-world applications. The program offers an in-depth discussion of important items covered during the preceding twelve months on Kaplan’s Current Federal Tax Developments website. Emphasis on current issues, planning, and strategy keeps participants interested all day. Participants will learn how to avoid penalties, use IRS Frequently Asked Questions to answer tough questions relating to new laws, and plan with regulations. The course will include and offer guidance on other issues, such as recently passed legislation and much more.
Participants will be able to:
- Understand and work with tax law changes
- Analyze court decisions, IRS Notices, Revenue Rulings, and Revenue Procedures for application to clients’ tax planning and compliance
- Be aware of IRS audit issues
- Assess pending legislation
- Anticipate and create opportunities for tax reduction
- Avoid penalties IRC Sec. 6662 imposes on careless taxpayers.
Prerequisites/Advanced Preparation: General tax knowledge
Current Financial Reporting Issues
This course discusses recent and complex or extensive changes to U.S. GAAP in the areas of financial reporting and disclosures, not included in the FASB update. Topics may include revenue, leasing, credit losses, going concerns, asset impairments, related parties, business combinations, income taxes, and related disclosure requirements. Participants will be able to:
- Identify and apply FASB’s guidance that is identified as current financial reporting issues beyond the newly issued Accounting Standards Updates
- Identify and describe the disclosure requirements for selected financial reporting issues
Prerequisites/Advanced Preparation: General accounting knowledge
Dangers of Improper Revenue Recognition
Headline after headline points out how pervasive improper revenue recognition has become. This program will identify improper revenue recognition techniques through lectures and short case write-ups. In addition, the program will address the quality of earnings, which is at the forefront of this scandal-ridden environment.
Participants will be able to:
- Identify creative accounting practices used in revenue recognition to deceive financial statement users
- Identify those risk characteristics normally associated with fraudulent financial reporting
- Apply accounting rules the right way
Prerequisites/Advanced Preparation: None.
Data Analytics for CPAs
Technology is constantly changing, and with that change, a need arises to reevaluate how we approach auditing. We are seeing more electronic transaction documentation and less paper. Clients want more data analysis and conclusions on the data. To stay ahead of this evolution, we need to understand and develop new techniques in auditing. This course will cover basic knowledge of data analytics with broad application and offer detailed, practical guidance and illustrations.
Participants will be able to:
- Implement the tools involved with performing data analytic techniques
- Develop best practices and practical tips and tricks related to data analytics
- Increase efficiency and effectiveness in audits using data analytic tools and techniques
Prerequisites/Advanced Preparation: Basic auditing and accounting course or experience
Debt Financing for Industry
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. Accounting covers financial instrument classification, measurement, and disclosures. This course also guides accounting for issuing debt for organizations that borrow to fund their operations while providing practical examples for dealing with various items that arise from investments in debt and equity securities and from incurring indebtedness.
Participants will be able to:
- Apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in debt and equity financial instruments
- Apply the course knowledge to issuing debt to finance organizational operating activities
Prerequisites/Advanced Preparation: Accounting or finance experience.
Debt Related Tax Issues
The Form 1099-C is probably not the whole story. Clients with properties lost to foreclosure, sold in short sales, and who have had debts restructured have complicated tax issues that impact both tax planning and reporting. IRC Sec. 108 says that income from forgiveness of indebtedness is taxable, but it offers several exceptions to that rule. This course will handle such transactions, including working with clients considering debt settlement options and those for whom the transaction is completed before the CPA becomes involved. Participants will learn how to reduce negative tax outcomes by applying the statutory exceptions to income recognition. Participants will be able to:
- Distinguish between debt treated as proceeds of sale and debt treated as canceled
- Report and classify gain and loss on the foreclosure
- Apply exceptions to avoid cancellation of debt income
- Understand the exclusions from COD income, including required tax attribute reductions
- Rebut the presumptions of correctness for amounts reported on Form 1099-C
- Understand special rules that apply to debt forgiveness in partnerships and S corporations
Prerequisites/Advanced Preparation: None.
Deceptive Accounting Practices
The accounting profession and financial markets have been plagued during the past several years with numerous cases of financial reporting problems. This course will go through some real-life examples of financial statement fraud and/or failed audits. The course will cover how to recognize deceptive practices related to revenue recognition, detail related party and off-balance sheet schemes, and how earnings can be manipulated through inappropriate estimates.
Participants will be able to:
- Identify creative accounting practices used to deceive financial statement users
- Identify those risk characteristics normally associated with fraudulent financial reporting
- Emphasize improper revenue recognition practices and techniques to identify them
Prerequisites/Advanced Preparation: None.
Decoding the Generations
Companies work hard to understand their client base. They focus on what products their clients will want to buy or services they want to pay for, but how often do they think about the differences in the people who comprise their workforce? When interviewing for a new position, do we consider who our potential coworkers will be? Do we think about what motivates the people who will ultimately produce our goods or services?
Today, the workforce includes people from four different generations. Sometimes the differences are points of contention, creating roadblocks to success, while other times, the differences make for great teamwork. Understanding what makes the different generations “tick” will help in everything from landing a job in a multi-generationally diverse company to creating a culture where employees thrive on producing the best products or providing superior services.
- This course will highlight the differences between the generations.
- It will cover what is important to each generation for success in the workplace.
- It will illustrate how companies and managers can use this knowledge to create a workplace culture of cohesiveness.
- This course is beneficial for both people managers and those just trying to get a leg up in the workplace.
Participants will be able to:
- Identify the different generations in the workplace
- Describe events that occurred throughout the generations
- Explain how beliefs and values develop over a generation
- Make the correlation between beliefs and values to behaviors
- Use this information for positive impacts in the workplace
Prerequisites/Advanced Preparation: None
Delegation Skills for Managers and Supervisors
This course aims to familiarize the user with the process of effective delegation. The course will discuss the strategies required for a manager to delegate effectively, including defining the task, delegating the task, and assuring results. The course will also discuss typical pitfalls a manager can encounter in delegating.
Participants will be able to:
- Define the desired results in a task
- Identify the context of delegation
- Determine task competencies
- Recognize how to monitor progress
- Determine how to assess outcome
Prerequisites/Advanced Preparation: None
Derivatives and Hedging
The requirements of U.S. GAAP can be overwhelming for professionals responsible for preparing financial statements. Topic 815, Derivatives and Hedging, guides derivatives and hedging. This program presents the latest guidance on the implementation of the standard, including examples.
Participants will be able to:
- Understand derivatives and hedging
- Properly account for derivatives
- Properly disclose derivatives
Prerequisites/Advanced Preparation: None
Disclosure - The Key to Financial Statements
A company’s financial statements are far more than just financial data. This is where the disclosures become key to explaining what the numbers may not be able to on their own. Keep your professional reputation stellar by making sure your financial statements are up-to-speed. This course will explain and illustrate disclosure requirements, clear up misconceptions about practice problems, correct disclosure deficiencies most frequently cited by peer reviewers, and illustrate revenue and lease disclosures based on Topics 606 and 842.
Participants will be able:
- Prepare disclosures necessary for both public and non-public entities
Prerequisites/Advanced Preparation: Participants should be familiar with current accounting issues
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Disclosure - The Key to Financial Statements
A company’s financial statements are far more than just financial data. This is where the disclosures become key to explaining what the numbers may not be able to on their own. Keep your professional reputation stellar by making sure your financial statements are up-to-speed.
This course will explain and illustrate disclosure requirements, clear up misconceptions on practice problems, correct disclosure deficiencies most frequently cited by peer reviewers, and illustrate revenue and lease disclosures based on Topics 606 and 842
Participants will be able to:
- Prepare disclosures necessary for both public and non-public entities
Prerequisites/Advanced Preparation: Participants should be familiar with current accounting issues.
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Dodd-Frank Act
This course explains why Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act in response to the global financial crisis of 2008. It summarizes the debate over financial institutions that are “too big to fail” and how the federal government plans to monitor and regulate these institutions to avoid financial failures and their broader impacts on the U.S. financial system.
The program also addresses increased capital requirements for banks and bank holding companies, changes designed to strengthen the FDIC, the regulations of derivatives and swaps, changes for the investment industry, changes in consumer protection and mortgages, and other provisions of the Dodd-Frank Act Participants will be able to:
- Identify and describe the changes made by the Dodd-Frank Act to the investment industry, consumer protection, and other provisions of the law
Prerequisites/Advanced Preparation: None
Employee Benefit Plans - Auditing Significant Areas
The Department of Labor (DOL) oversight and monitoring of audit quality have intensified and will continue for employee benefit plan (EBP) audits for the foreseeable future. The AICPA initiative on Audit Quality has also addressed the issue through the peer review process. This course discusses the deficiencies noted in peer reviews in significant audit areas. Skills and knowledge will be covered in the following areas:
- Stay current on regulatory initiatives, findings, and actions
- Identify and address recurring difficult and complex accounting, auditing, and financial reporting issues in EBP engagements
- Effectively perform required auditing procedures
- Document evidence obtained to support the opinion
- Identify deficiencies and focus on best practices
Participants will be able to:
- Understand the required audit procedures for selected accounts
- Identify current auditing issues with common-sense solutions
- Prepare adequate and sufficient audit documentation that will satisfy the professional standards for documentation and the DOL
- Avoid mistakes and deficiencies in financial reporting and disclosures noted by DOL Audit Quality Study and Peer Reviews
Prerequisites/Advanced Preparation: Experience in Audits of Employee Benefit Plans.
Employee Benefit Plans - Identifying the Warning Signs and Addressing Fraud
Companies that have become victims of fraud, whether it be financial reporting fraud or theft of assets, have proclaimed, “We should have known!” Yes, in most cases, the companies or employees at some level should have or do know. The warning signs were there but not recognized. A common misconception is that the auditor or accountant will identify it. This fast-paced session will discuss some of the more common, unrecognized signs and how to identify them before fraud occurs. Real-case examples will be presented with suggestions to prevent or detect the possibility of fraud occurring.
Participants will be able to:
- Identify warning signs of fraud
- Develop and perform appropriate testing procedures
- Understand the number of ways fraud can occur in an Employee Benefit Plan (EBP)
Prerequisites/Advanced Preparation: Experience in Audits of Employee Benefit Plans.
Entry Level Staff - A&A Staff Level 1
Entry level staff that want to accelerate their progress in the profession can bridge the gap between academia and practice by applying the theoretical knowledge from college to practical situations. This is the first of three levels of continuous staff development that enhances the process. Firms that commit to a consistent, continuous learning process can maximize the investment in young staff by providing focused CPE that accompanies the practical experience of the firm’s clientele. Public accounting requires a high level of technical competency which begins the first day of hire and continues throughout a professional’s career. The rapid pace of the changing world of accounting requires new technical knowledge with each addition to the professional standards. The academic environment prepares graduates with a level of conceptual knowledge at a point in time. Upon entering public accounting practice, firms must transition that knowledge of concepts into practical application for staff to develop competency.
Participants will be able to:
- Gain valuable guidance and hands-on experience
- Understand documentation requirement
Prerequisites/Advanced Preparation:
- 3–15 months experience
- Basic knowledge of SSARSs and SASs
Only 8 hours qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Equity Compensation Accounting
Public and private companies with stock options and restricted shares generally make equity-based, non-cash payments to employees and directors as part of their compensation or to suppliers as payment. This course provides an accounting resource for companies making equity-based payments and illustrates the financial statement impact of equity-based payments. ASC 718, Compensation-Stock Compensation, provides accounting guidance for share-based payment transactions with employees and non-employee payment transactions, such as to members of the Board of Directors or suppliers.
Participants will be able to:
- Measure equity awards grants
- Account for equity awards classified as equity
- Account for equity awards granted to employees
- Account for equity-based transaction payments to nonemployees
- Understand the presentation and disclosures in the financial statements
Prerequisites/Advanced Preparation: None.
Equity Compensation Accounting
Public and private companies with stock options and restricted shares generally make equity-based, non-cash payments to employees and directors as part of their compensation. This course provides an accounting resource for companies making equity-based payments and illustrates the financial statement impact of equity-based payments. ASC 718, Compensation-Stock Compensation, provides accounting guidance for share-based payment transactions with employees and for nonemployee payment transactions, such as to members of the Board of Directors.
Participants will be able to:
- Measure equity awards granted to employees
- Recognize compensation cost
- Account for equity awards classified as liabilities
- Account for equity-based transaction payments to nonemployees
- Understand the presentation and disclosures in the financial statements
Prerequisites/Advanced Preparation: None
Essential Cybersecurity Awareness in Accounting - What You Need to Know
Over 9 billion data records have been lost or stolen since 2013. With a frequency of almost 5.5 million records exposed every day, it is no longer a question of whether a firm has been compromised but more a question of when it will happen. Does your team have the cybersecurity knowledge and auditing skills to prevent or mitigate the next big breach? In this course, participants will learn the basics of cybersecurity awareness and safeguarding sensitive data, and how to address cybersecurity threats within a firm Participants will be able to:
- Explain the cybersecurity threat landscape and its economic costs
- Identify state regulatory and legal rules related to cybersecurity
- Apply the core principles of cybersecurity awareness to limit cybersecurity risk
Prerequisites/Advanced Preparation: Web browsing and email experience.
Estate Planning for the 99% - Portability and More
With a lifetime exemption of over $11,000,000 (temporarily—$5,000,000 permanently), much of what the traditional estate planning CPAs did for clients no longer makes sense, as these clients do not face a federal estate tax liability, or it can be easily avoided. However, that does not mean there are no tax issues or that a failure to plan will not cost the family money. This session will look at advising those “poor” estates. We will discuss the use of portability planning instead of bypassing trusts, how to plan to maximize the basis for heirs rather than minimize inclusion in an estate, and not to get blind-sided by the state-level estate and inheritance taxes.
Participants will be able to:
- Advise clients on the advisability of making a portability election
- Assisting the client’s attorney in revising or designing the client’s estate plan
- List those states with an estate and/or inheritance tax
Prerequisites/Advanced Preparation: Experience advising clients on tax and financial matters
Ethical Considerations in Diversity, Equity & Inclusion 2022: Foundation for Our Profession
This course is intended to create a foundation of diversity, equity, and inclusion (DEI) in the workplace, accounting profession, and community and begin the exploration of the impact of ethics and preconceived bias. This course has been approved by the Virginia Board of Accountancy (VBOA) to fulfill your 2022 ethics requirement. After completing this course, participants should be able to:
- Recognize the importance of diversity, equity, and inclusion.
- Differentiate between diversity, equity, and inclusion.
- Recognize the different categories of biases and how they impact decision-making.
- Determine how to apply the lenses of unconscious bias when using the AICPA Code of Professional Conduct.
- Determine how to apply the concepts of diversity, equity, and inclusion to everyday dilemmas.
- Identify new perspectives on diversity, equity, and inclusion in applying critical thinking.
- Recognize ways to promote better diversity, equity, and inclusion as part of an organization's ethics-based culture.
Prerequisites/Advanced Preparation: None
Ethics Unplugged 2022: Technology Obligations
Technology has changed everything about the accounting profession. Over the past 30 years, computers and automation replaced many manual processes, increasing efficiency, and accuracy. However, technology has impacted ethics in the accounting profession also. Today’s accountants must grapple with ethics issues when considering data security, the privacy of sensitive information, secure Internet use, working remotely, and potential independence impairment when performing consulting services. In this course, you will learn about many of these ethical considerations in this brave new world of "technoethics." This course has been approved by the Virginia Board of Accountancy (VBOA) to fulfill your 2022 ethics requirement. After completing this course, participants should be able to:
- Differentiate between ethics, morals and laws.
- Define "technoethics" and identify examples of business ethics issues and how they are affected by technology.
- Recognize the influence of technology on statutory ethics requirements.
- List at least five potential ethical issues associated with leading technologies today.
Prerequisites/Advanced Preparation: Fundamental understanding of contemporary business practices
Ethics in a Changing World
The co-founder of Intel, Gordon E. Moore observed in the mid-1960’s that the number of transistors on integrated circuits doubles approximately every two years. This observation evolved into Moore’s Law which serves as the basis for technological innovation (that computing power grows exponentially). Fast forward fifty years, and we find practitioners spinning in place when confronted with today’s dizzying pace of technological and cultural advancements.
This course provides learners with a primer on recent events and how evolving trends in a fast-changing world shape everyday ethical choices we face.
- Recall global business and ethics trends concerning multinational corporations.
- Identify key ethical considerations stakeholders should consider in a growing tech universe.
- Recall best practices CPAs should employ when utilizing social media.
- Identify professional and personal characteristics attributable to different demographic generations.
Prerequisites/Advanced Preparation: None
Expense vs. Capitalize - Getting it Right
Is an expenditure associated with tangible property deductible or must it be capitalized? Learn the rules for the treatment of amounts paid to acquire, produce, repair, or improve the tangible property and proper accounting for property dispositions subject to depreciation. The capitalization regulations provide objective standards and bright-line rules that simplify compliance with the capitalization provisions contained in Section 263(a) of the Internal Revenue Code. This program highlights issues involving what must be capitalized, what can be treated as a repair, and items related to depreciation of fixed assets Participants will be able to:
- Apply capitalization rules in general
- Identify exceptions for materials and supplies
- Account for costs associated with notable spare parts
- Apply “de minimis” rules for entities with and without an “applicable financial statement.”
- Determine amounts considered “spent to acquire tangible property.”
- Identify improvements to tangible property › Unit of property definitions, including special rules applicable to real property › Leased property rules for lessees and lessors › Routine maintenance safe harbors
- Determine what is a “betterment” of property
- Recognize and capture costs of restoration of property
- Definition of adapting a property to a new or different use
- Determining property that qualifies for Section 179 expensing treatment
- Applying cost recovery rules
Prerequisites/Advanced Preparation: General construction accounting and tax knowledge.
Experienced Staff - A&A Staff Level 2
This is the second of three levels in staff development that have been designed to provide continuing progress in the development for staff to perform advanced and complex assignments with minimal supervision. The course will focus on the understanding and performance of the risk assessment process of the audit. Case studies will highlight best practices in the areas of analytical procedures, internal controls, and walk-throughs. Since this experience level will be expected to assist more with the notes to the financial statements, a detailed discussion will provide knowledge and examples of required disclosures for a U.S. GAAP or special purpose framework financial statement.
Participants will be able to:
- Provide guidance and hands-on experience to experienced staff
- Increase technical development and performances
Prerequisites/Advanced Preparation:
- 12–30 months experience
- Knowledge of U.S. GAAP, audit standards and participated on an audit engagement
Only 8 hours qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
FAQ - Accounting and Auditing
This program hits the mark by reviewing real issues and questions asked by accountants who are past attendees of our seminars before the session. The course covers “live” issues dealing with accounting and disclosures, preparation services, compilations, reviews, and audits. This course lends practical solutions to issues that may confront those in practice.
Participants will be able to:
- Identify common disclosure deficiencies noted in practice
- Describe recent changes in accounting and auditing guidance
- Define risks and uncertainties
- Determine appropriate accounting policies
Prerequisites/Advanced Preparation: Basic audit and accounting experience
Section on auditing and reporting qualifies for the 24-hour Yellow Book requirement. Section on accounting and disclosure qualifies for the 24-hour requirement if auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
FAQ - Audits, Reviews, and Compilations
Using the popular “Frequently Asked Questions” format, this session will take a deeper dive into issues where auditors continue to have questions. It will deal with risk assessment implementation issues, efficiency issues for smaller clients, sampling, and more.
Participants will be able to efficiently apply auditing literature to a variety of troublesome issues.
Prerequisites/Advanced Preparation: Basic audit and accounting experience
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
FAQ - GAAP Financial Statements
FASB Update
This session will provide an overview of FASB pronouncements during the past 18 months. Only pronouncements with broad application will be covered in detail. For other issues, a quick synopsis will be provided.
Participants will be able to apply new Accounting Standard Updates (ASUs).
Prerequisites/Advanced Preparation: General accounting or auditing knowledge
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Fair Value Fundamentals - Business Combinations and Asset Impairments
The accounting profession continues to evolve from pure historical cost to fair value measurement for many transactions and economic events. Accordingly, the FASB’s fair value guidance also continues to evolve. Fair value accounting guidance impacts recognition, measurement, presentation, and disclosure. This course starts with explaining fair value fundamentals in ASC 820, Fair Value Measurement and then focuses on fair value accounting for recurring and non-recurring asset impairments and business combinations.
Participants will be able to:
- Describe fair value fundamentals
- Apply the fair value framework
- Recognize, measure, present, and disclose fair value accounting
- Calculate goodwill impairment
- Calculate asset impairment
- Determine business combination fair value
Prerequisites/Advanced Preparation: None
Fair Value Fundamentals - Financial Instruments, Derivatives & Hedging and Equity Compensation
The accounting profession continues to evolve from pure historical cost to fair value measurement for many transactions and economic events. Accordingly, the FASB’s fair value guidance also continues to evolve. Fair value accounting guidance impacts recognition, measurement, presentation, and disclosure. The course starts with explaining fair value fundamentals in ASC 820, Fair Value Measurement and then focuses on fair value accounting for financial instruments, derivatives and hedging, and equity compensation.
Participants will be able to:
- Describe fair value fundamentals
- Apply the fair value framework
- Recognize, measure, present, and disclose fair value accounting
- Calculate financial instruments fair value
- Calculate the basics of derivatives fair value
- Determine the basics of stock compensation fair value
Prerequisites/Advanced Preparation: None
Federal Tax Update for Industry
This program concentrates on recent changes in tax law that affect business and industry. Geared both toward CPAs in public practice and industry, participants learn how current issues affect their industry and their operations. The course will discuss the practical impact of these developments on businesses. A complete discussion of guidance issues on the Tax Cuts and Jobs Act will be included, as well as any other tax law enacted by Congress.
Participants will be able to:
- Maintain tax knowledge and awareness of tax changes that affect common business operations and individuals who own them
- Establish practical approaches required to comply with changes in tax law
- Identify IRS audit issues
- Avoid costly misunderstandings of tax law by learning from others’ mistakes
Prerequisites/Advanced Preparation: General tax knowledge
Finance Principles for Accountants
Accountants have increasingly become the primary advisors for businesses of all sizes. Clients are seeking assistance with all aspects of business planning. Are you prepared to support your clients on aspects such as business expansion, sources of capital, and determining growth strategies? This course introduces accountants to the essential elements of finance for business with an emphasis on the interrelationship with the traditional functions of accounting, explaining sources and costs of capital, and making educated capital decisions about growing business. Bringing a new appreciation of the vital role accountants play in business development, this dynamic and fast-moving session will explore key finance concepts and tools, including some of the best methodologies for making capital business decisions.
Participants will be able to:
- Appreciate the critical relationships between accounting and finance
- Describe the concepts of risk, standard deviation, diversification, and beta
- Calculate cost of debt, cost of equity, and weighted average cost of capital
- Explain growth project selection criterion
Prerequisites/Advanced Preparation: None
Financial Instrument Investments and Debt Issuance for Industry
This course is designed to help accounting and finance leaders of all-sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. The accounting covers financial instrument classification, measurement, and disclosures. This course also guides accounting for issuing debt for organizations that borrow to fund their operations while providing practical examples for dealing with the variety of items that arise from investments in debt and equity securities and from incurring indebtedness.
Participants will be able to:
- Apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in debt and equity financial instruments
- Apply the course knowledge to issuing debt to finance organizational operating activities
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Instrument Investments and Fair Value
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. The accounting covers financial instrument classification, measurement, and disclosures. This course covers the most recent Accounting Standards Updates (ASU) released by the FASB related to financial instruments investments as well as guides accounting for fair value measurement related to financial instruments.
Participants will be able to apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in financial instruments.
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Instrument and Investments and Hedging
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. This course covers the most recent Accounting Standards Updates (ASU) released by the FASB related to financial instruments investments as well as derivative and hedge accounting (ASC Topic 815) and the related disclosures.
Participants will be able to:
- Describe the most recent ASU issued by the FASB related to financial instruments
- Apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for hedge accounting and the related disclosures
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Instrument and Investments, Joint Ventures, and Equity Method Investments
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. The accounting covers financial instrument classification, measurement, and disclosures. This course covers the most recent Accounting Standards Updates (ASU) released by the FASB related to financial instruments investments as well as guides accounting for joint ventures and equity method investments and the related disclosures.
Participants will be able to apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in financial instruments.
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Instruments - FASB Update
This course is designed to help accounting and finance leaders of all-sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. The accounting covers financial instrument classification, measurement, and disclosures. This course also guides accounting for issuing debt for organizations that borrow to fund their operations while providing practical examples for dealing with the variety of items that arise from investments in debt and equity securities and from incurring indebtedness.
Participants will be able to:
- Apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in debt and equity financial instruments
- Apply the course knowledge to issuing debt to finance organizational operating activities
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Investments and Debt Issuance for Industry
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. The accounting covers financial instrument classification, measurement, and disclosures. This course also guides accounting for issuing debt for organizations that borrow to fund their operations while providing practical examples for dealing with the variety of items that arise from investments in debt and equity securities and from incurring indebtedness.
Participants will be able to:
- Apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments in debt and equity financial instruments
- Apply the course knowledge to issuing debt to finance organizational operating activities
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Statement Fraud
Instances of financial statement fraud have occurred ever since the first financial statements were prepared. Financial statement fraud poses a significant threat to all businesses regardless of size. In this program, we will discuss fraud, fraud risk assessments, the Fraud Triangle, who commits fraud, fraud red flags and motivations to commit fraud, common fraud activities, COSO internal controls, anti-fraud controls, and numerous financial statement fraud case studies.
Participants will be able to:
- Define fraud in the context of financial statement fraud
- Describe financial statement frauds and how they occur
- Recognize both soft and hard indicators of fraud
- Identify red flags of financial statement fraud
- Identify who commits financial statement fraud and the incentives motivating them to do so
- Perform a financial statement fraud risk assessment
- Recognize the most common financial statement fraud activities through case analysis
- Identify best practices anti-fraud controls
Prerequisites/Advanced Preparation: Accounting or finance experience
Financial Statement Fraud
Instances of financial statement fraud have occurred ever since the first financial statements were prepared. Financial statement fraud poses a significant threat to all businesses regardless of size. In this program, we will discuss fraud, the Fraud Triangle, who commits fraud, fraud red flags and motivations to commit fraud, common fraud activities, COSO internal controls, and selected financial statement fraud case studies.
Participants will be able to:
- Define fraud in the context of financial statement fraud
- Describe financial statement frauds and how they occur
- Recognize both soft and hard indicators of fraud
- Identify red flags of financial statement fraud
- Identify who commits financial statement fraud and the incentives motivating them to do so
- Recognize the most common financial statement fraud activities through selective case analysis
Prerequisites/Advanced Preparation: Basic accounting and finance knowledge
Foreign Corrupt Practices Act
The U.S. Congress enacted the Foreign Corrupt Practices Act (FCPA) in 1977 in response to revelations of widespread bribery of foreign officials by U.S. companies. The act was intended to halt those corrupt practices, create a level playing field for honest business, and restore public confidence in the integrity of the marketplace. This course covers the major principles of this anti-corruption law, including the act’s anti-bribery provisions and accounting provisions.
Participants will be able to:
- Describe the background history and environment that led to the passing of the Foreign Corrupt Practices Act
- Identify and describe the anti-bribery provisions of the Foreign Corrupt Practices Act
- Identify and describe the accounting provisions of the Foreign Corrupt Practices Act
- Identify and describe the major compliance requirements of the Foreign Corrupt Practices Act
Prerequisites/Advanced Preparation: None
Goodwill and Intangibles
This program will address the factors influencing the creation, evaluation, and impairment of goodwill and intangibles. It will address valuation and impairment testing techniques.
Participants will be able to:
- Understand the use of fair value accounting resulting from a business acquisition
- Properly record the business acquisition
- Evaluate goodwill for impairments using recent FASB rules
- Understand the proper recording of intangibles
- Know when and how intangibles are evaluated for impairments
- Understand disclosure rules for goodwill and intangibles
Prerequisites/Advanced Preparation: General knowledge of goodwill and intangible accounting
Government Auditing Standards - Soup to Nuts
The Yellow Book is a modernized version of Government Auditing Standards that takes into account developments in the auditing, accountability, and financial management professions. Some of it’s provisions address quality control issues identified by federal agencies and the AICPA. This course covers the Yellow Book requirements for financial statement audits, attestation engagements, and performance audits.
Participants will be able to:
- Identify the requirements of Government Auditing Standards
- Describe the differences between the previous standards and the current standards
- Apply the requirements of the newly issued Government Auditing Standards
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Governmental Update
This course provides an update to GASB literature. It will discuss the newest pronouncements issued from June 2022 through March 2023. It will also discuss previously issued standards that are required to be implemented in 2022–2023. This program contains a discussion of frequently missed auditing, accounting, disclosure, and compliance issues related to government entities including a discussion of the GAO’s Yellow Book and other single audit developments.
Participants will be able to:
- Apply new GASB pronouncements
- Understand the changes to Government Auditing Standards
- Identify risk areas identified by peer reviewers and agency reviewers related to audits of governments including single audits
Prerequisites/Advanced Preparation: Basic familiarity with governmental accounting
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Hedging Basics
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, understand the financial instruments investment accounting guidance. This course is a quick hitter on the basics of hedging transactions.
Participants will be able to describe the basics of hedging transactions.
Prerequisites/Advanced Preparation: Accounting or finance experience
How to Supervise People
The purpose of this course is to introduce the user to the concepts of supervising people. The program will discuss and show the user how to (1) meet manager’s expectations and contribute to the organization’s overall success; (2) communicate intentions clearly so employees will use their talents to achieve the required objectives; (3) motivate, coach, and mentor employees effectively; and (4) develop a powerful and useful network of influence among peers, supervisors, managers, and employees.
Participants will be able to:
- Determine how to ensure effective execution of a team’s work
- Define the steps and techniques involved in effective running of a unit’s or team’s work
- Identify the steps and techniques involved in developing employees
- Specify the steps and techniques in developing the network of influence
Prerequisites/Advanced Preparation: None
IFRS and US GAAP - Major Differences
International Financial Reporting Standards (IFRS) represents the international alternative to U.S. Generally Accepted Accounting Principles (GAAP). Most of the world already communicates with investors and stakeholders about corporate financial performance in the language of IFRS. The International Accounting Standards Board (IASB) and their U.S. equivalent, the Financial Accounting Standards Board (FASB), have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the sets of standards as possible. This course provides an introductory overview of International Financial Reporting Standards including discussions of the IASB structure and its standard-setting process and major differences that exist between U.S. GAAP and IFRS.
Participants will be able to:
- Identify and describe the IASB vs. the FASB structure and the differences in their standard setting processes
- Identify the various major differences between IFRS and U.S. GAAP standards
- Identify the differences in financial reporting between IFRS and U.S. GAAP
Prerequisites/Advanced Preparation: General accounting knowledge
IFRS and US GAAP - Review of Significant Standards
International Financial Reporting Standards (IFRS) represents the international alternative to U.S. Generally Accepted Accounting Principles (GAAP). Most of the world already communicates with investors and stakeholders about corporate financial performance in the language of IFRS. The International Accounting Standards Board (IASB) and their U.S. equivalent, the Financial Accounting Standards Board (FASB), have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the sets of standards as possible. This course provides a review of the differences in significant standards between IFRS and U.S. GAAP.
Participants will be able to identify and describe significant current standards and topical areas most relevant for financial reporting and disclosure.
Prerequisites/Advanced Preparation: General accounting knowledge
Identifying and Addressing Related Party Transactions
Related party transactions are often the most difficult for accountants and auditors to manage due to these transactions not being separately identified when transaction activity takes place. Related party transactions are often used to commit fraud and more often are simply hidden by management because they do not want third parties to be aware of these transactions. This program will identify the accounting and disclosure guidance associated with related party transactions (Topic 850), addresses form over substancerelated party transactions, provides examples of related party frauds, and describes best practices for identifying undisclosed related party transactions. Related party disclosures will also be addressed.
Participants will be able to identify, account, and disclose related party transactions.
Prerequisites/Advanced Preparation: None
Identifying and Addressing the Risk of Fraud in Nonprofit Organizations
This 4-hour module will help auditors and those working in nonprofit organizations to identify and address the most common fraud and abuse schemes that are perpetrated against them. Using a case study format, participants will learn how these fraud schemes can be prevented and detected. The issue of fraud is especially important to understand in an economy where incentive and pressure to commit a fraudulent act is intensified. This course has been updated with a discussion on the important changes in the COSO Framework and COSO white papers on board governance and cyber fraud and statistics from the Association of Certified Fraud Examiners.
Participants will be able to identify situations where there is a risk of fraud and create ways to prevent and detect them.
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Identifying the Need for and Testing Service Organization Control Reports
With a heightened focus on internal control by regulators, boards of directors, and others charged with governance, and the increase in cybercrime, there has been an increased focus on this area. Every entity is responsible for its internal control over financial reporting, including any outsourced processing. Management should obtain a service organization control (SOC) report prior to outsourcing its processes to determine whether the service organization is reliable and should continue to do so each year. User auditors will need to obtain and perform procedures on the SOC report including the complimentary user controls. This course will cover the understanding and testing SOC 1 type 1 and type 2 reports and walk the participant through a SOC 1, type 2 report. It will also discuss what to do when the SOC report has a modified opinion or significant deficiencies in internal control.
Participants will be able to:
- Identify the three types of SOC reports
- Identify the components of a SOC report
- Describe the process used to understand and test the SOC report as well as the complimentary user controls
- Identify the steps to take when the SOC report is modified or has significant deficiencies
Prerequisites/Advanced Preparation: None
In-Charge Staff - A&A Staff Level 3
This is the third of three levels in staff development that have been designed to provide continuing progress in the development for staff. The course will focus on the need to plan effectively and consider efficiencies to manage an engagement. Besides mastering a high degree of technical knowledge, responsibility is now added to train and supervise assistants. The in-charge will now be responsible for supervision, training, and review of the documentation accumulated in an engagement.
Participants will be able to provide guidance and hands-on experience with case studies, adequately plan, supervise, and review documentation that supports the report and results in a quality and profitable engagement.
Prerequisites/Advanced Preparation:
- 24+ months experience
- Knowledge of U.S. GAAP, audit and SSARS standards and participated on several audit engagements
Income Taxation of Trusts and Estates - Planning and Compliance
Subchapter J of the Internal Revenue Code governs income taxation of estates and trusts— an area of tax law with numerous special rules, regulations, and professional customs. Form 1041 is unlike any other income tax return a tax professional encounters. This program explains the unique tax rules and opportunities for the knowledgeable tax advisor to provide valuable tax services to fiduciaries—from special tax accounting to options for reporting trust income and expenses. The program will contain state-specific information on the state’s principal and income tax (including unique features of that Act) that is used to compute “accounting income” necessary for preparation of the Form 1041.
Participants will be able to:
- Advise fiduciaries regarding their tax duties for the income tax reporting
- Describe the types of trusts and their income impact
- Explain what is involved with trust accounting and dealing with the applicable state principal and income act
- Explain the filing requirements for trusts and the preparation of Form 1041
- Deal with unique issues for income and expenses affecting trusts and estate income taxes
- Describe distributable net income (DNI) and how it impacts taxes
Prerequisites/Advanced Preparation: General tax knowledge
Internal Controls for Industry - How to Implement and Maintain
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, improve their leadership role by providing internal controls. This role includes custody of the organization’s assets and proper financial reporting free from material misstatements. It provides detailed practical guidance and examples for dealing with the variety of items that come up in financial and internal control situations.
Participants will be able to apply the knowledge they obtain in this program to their day-to-day responsibilities for designing, implementing, and maintaining an internal control structure, improving their internal control structure, and monitoring control compliance.
Prerequisites/Advanced Preparation: Accounting, finance or internal audit experience.
Internal Controls: Testing and Communicating
Internal controls over financial reporting are used to prevent, detect, and correct misstatement. They also help to reduce the chance that fraud will occur. Auditors are tasked with determining when controls should be tested, designing the tests of controls, performing the tests, and documenting and communicating the results of the efforts. Although auditors are not required to search for deficiencies, they do have to consider whether there are areas where the potential for material weakness could occur. This course will discuss those areas and what mitigating factors could be considered in evaluating controls and the resulting communications that are required from the auditor.
Participants will be able to:
- Realize the importance of the financial reporting system and financial reporting process
- Identify the impact of a control reliance strategy on audit procedures
- Design tests of internal controls
- Test and document the results of tests of internal controls
- Define the key terminology used when communicating deficiencies in internal control
- Identify and evaluate deficiencies in internal control
- Issue an AU-C 265 report
Prerequisites/Advanced Preparation: Basic audit course or experience
Introducing Tax-Exempt Organizations - What's the Purpose of it All
The three most important principles to remember about tax-exempt organizations are: Purpose, Purpose, and Purpose. An organization desiring to be exempt from regular income taxation must have a tax-exempt purpose that corresponds with those listed in the Internal Revenue Code; it must demonstrate its tax-exempt purpose in the operation of the organization, starting in year one, then continuing throughout its existence. The actions of the organizers, directors, and officers of the organization must be consistent with the overall purpose for which the organization received its exemption, as well. This introduction to tax-exempt organizations identifies circumstances under which an organization may and may not be granted exemption. It describes the process for requesting tax-exempt status, then it introduces basic concepts on which to build an organization that will be allowed to remain tax-exempt.
Participants will be able to:
- Identify organizations eligible for tax-exempt status
- Understand the steps necessary for applying for exemption
- Be aware of traps and pitfalls that can lead to penalties or loss of exempt status
- Identify issues involved in preparing Forms 1023, 1023-EZ, or 1024 and related schedules
Prerequisites/Advanced Preparation: None
Introduction to Forensic Accounting
Forensic accounting is one of the fastest growing niche areas in accounting right now. While many accountants have a basic understanding of fraud examination, forensic accounting goes beyond that to include not only auditing and accounting skills but also investigative skills to assist in depositions, testify as an expert witness, conduct fraud investigations, and assist in civil and criminal investigations. Forensic accounting goes beyond looking at fraud in large companies. This course will help develop the basic tools needed in forensic accounting, look at a real life examples of forensic accounting, and develop the skills needed to prepare a forensic exam for litigation. Finally, the course will cover what to do next to proceed in a career in forensic accounting.
Participants will be able to:
- Describe general forensic accounting and how it differs from fraud analysis
- Develop basic tools needed to start looking at forensic evidence
- Apply tools to real life examples
- Formalize workpapers and conclusions suitable for litigation
- Define the career path of a forensic accountant
Prerequisites/Advanced Preparation: None
Joint Ventures and Equity Method Investments
This course is designed to help accounting and finance leaders of all sized entities, both private and publicly traded, apply the accounting for joint ventures and equity method investments and the related disclosures.
Participants will be able to apply the knowledge they obtain in this program to their planning and day-to-day responsibilities for accounting for investments accounted for by the equity method and collaborative arrangements.
Prerequisites/Advanced Preparation: Accounting or finance experience
Kaplan's Guide to Recently Issued Auditing Standards
The Auditing Standards Board has been busy over the last 4 years issuing auditing standards some of which are effective now and others which will be effective for calendar 2023 year-end audits. The standards are interrelated, and some are more challenging to digest than others. This course covers SAS 134-146. After a refresher of the important points of SASs 134-140 we will discuss implementation issues related to the newer and more challenging standards. The primary focus will be on the most recently issued standards (SASs 142-146). We will provide examples using newer accounting literature such as revenue recognition, leases and the standard on current expected credit losses which are applicable to many engagements.
Participants will be able to:
- Identify the requirements of the recently issued standards
- Apply the standards to audits of financial statements
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Key Issues for Trusts and Estates
The income taxation of trusts and estates is something in which most CPAs had little training before beginning practice, but something most all whom spend time in tax encounter. In this session, we’ll look at some key components that cause issues with the income taxation of trusts and estates and the impact each has.
Participants will be able to:
- Understand the accounting for trusts to determine the accounting income to prepare a trust income tax return (will vary by state)
- Compute the make-up of distributable net income and understand the impact of the computation on beneficiary K-1s
- Explain the excess deductions on termination brought about by the Tax Cuts and Jobs Act
Prerequisites/Advanced Preparation: General tax knowledge
Key Tax Planning Concepts and Issues
CPAs add value to their clients in the tax arena by offering more than just return preparation. Understanding the key techniques and options in tax planning is key to providing clients with a real service beyond simple tax compliance. This session will look at the major concepts behind tax planning strategies and let participants find opportunities for their clients that exist in the tax law.
Participants will be able to:
- Understand the key concepts used by advisers in tax planning
- Explain the concept of tax deferral to clients and why it is better to pay taxes later in time
- Recognize opportunities to convert taxable income from a highly taxed form to a low-taxed form
- Recognize purported strategies that are not supported by the tax law, and offer up alternatives that are allowed under the law
- Explain to clients how the ultimate goal of tax planning is an increase in after-tax wealth over time—not necessarily just paying less in taxes
- Evaluate options for a client to determine which strategies will and will not serve to maximize after-tax wealth
Prerequisites/Advanced Preparation: Experience in personal and entity income tax issues
Lease Accounting Implementation
This program focuses on a lessee’s initial application of Topic 842 to existing leases, which will require the immediate attention of nearly every nonpublic reporting entity. In this practical, hands-on workshop, participants will learn how to apply “Day 1 accounting” under Topic 842 to their identified transition population of leases. (This is a shortened version of our longer 8-hour Lease Accounting Practice Guide course.)
Participants will be able to:
- Describe the term of each transition-population lease
- Determine the relevant remaining payments associated with each lease in the transition population
- Calculate the initial liability for each operating lease in the transition-population
- Determine the initial accounting adjustments for each transition-population lease
- Document a lessee’s initial application of Topic 842
Prerequisites/Advanced Preparation: Prior exposure to lease accounting as a lessee or lessor will be helpful
Managing Your Balance Sheet
The goal of this course is to make the user familiar with the concepts and issues confronted by CFOs, VPs of Finance, and controllers when seeking to manage a company’s balance sheet and ensuring the amounts contained therein are correct.
Participants will be able to:
- Define the assets required to run a business
- Identify how the company will pay for operations and how to manage that process
- Specify the process involved in a quarterly review process including personnel involved and tasks assigned
Prerequisites/Advanced Preparation: None
Managing the Capital Process
This course familiarizes the user with concepts regarding the capital expansion of an organization. The course discusses the process and decision criteria involved in expanding an organization and acquiring additional capital.
Participants will be able to:
- Identify the issues associated with managing the growth of an organization
- Determine the items to be considered by an organization when calculating an expected return on investment from the growth process
Prerequisites/Advanced Preparation: None
Managing the Sales Pipeline
This course explains the sales pipeline planning process by differentiating key pipeline planning categories and identifying strategies for addressing different scenarios. It is intended to help those in a financial planning role analyze and work within the sales pipeline structure to increase sales.
Participants will be able to:
- Identify the different types of sales in the sales pipeline
- Specify strategies for working within different sales pipeline scenarios
- Determine appropriate time horizons and planning targets given the different types of situations seen in the sales pipeline
Prerequisites/Advanced Preparation: None
Managing the Stage Gate Process
The purpose of this program is to familiarize the user with the product development process within an organization and introduce some of the best practices associated with developing products.
Participants will be able to:
- Define the various stages of the product development cycle
- Specify the best practices for each stage of the product development cycle
- Define the roles of various teams and members of the organization with respect to each stage in the product development cycle
Prerequisites/Advanced Preparation: None
Meeting Documentation Requirements in Your Workpapers
Peer reviewers have a saying “If it’s not documented, the performance of procedures is considered not to have been done!” This can lead to a non-conforming engagement. Various standard-setting bodies have expanded the requirements for both workpaper preparation and retention. This, coupled with recurring documentation deficiencies noted in peer review, increases the importance of adopting best practices for engagement documentation.
Participants will be able to prepare workpapers for preparations, compilations, reviews, and audits that meet professional standards.
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Merger and Acquisition Planning and Best Practices
This program is designed to help individuals from first time buyers to veteran entrepreneurs navigate the acquisition process. It discusses practical ideas on finding potential targets, letters of intent (LOIs), the due diligence process, building the business case financial model, obtaining proper financing, negotiating the deal documents, and integration of the acquired entity. The course will cover how to build a plan, execute the acquisition process, and lead a team to be a successful acquirer of other business entities to grow revenue and enhance net income.
Participants will be able to lead their company through the entire merger or acquisition process after the completion of this course.
Prerequisites/Advanced Preparation: Basic knowledge of business acquisition accounting
Multi-state Taxation and Sales Tax Nexus of Business
In this course, you will learn the fundamentals of state taxation and the issues that arise in determining how businesses are taxed in the various jurisdictions where they produce or sell products and services. States have the right to tax businesses that have a “nexus” in their jurisdiction. Significant changes in how businesses operate and the rapid expansion of online business transactions have dramatically changed the definition and application of nexus interstate commerce. Various court decisions of the past several decades have maintained some standard of physical presence. Recent trends in state legislation are merging the nexus standards for taxing sales and income and blurring the landscape for many businesses. This program explains and illustrates the key state business taxation principles to help the CPA understand and apply these changes in advising their clients on how transactions are likely to be taxed in a multi-state business environment.
Participants will be able to:
- Recognize the importance of state and local taxation in compliance and tax planning for multistate business enterprises
- Explain key terms and concepts in multi-state tax planning and compliance
- Recognize changes in nexus standards for sales and income taxes
- Minimize state income and sales taxes through proper business planning
- Compute state income subject to taxation under a variety of taxing systems
- Properly apportion income in a multi-state business environment
- Properly account for property, payroll, and sales apportionment factors
- Restructure entities to potentially reduce state tax burden
- Comply with employee state withholding tax rules
Prerequisites/Advanced Preparation: General tax knowledge
New Businesses - Advising Clients on Related Tax Issues
One of the biggest tax mistakes made by businesses involves the selection of an inappropriate entity type or not properly handling the rules that apply to allow certain structures to be formed tax free. Should a client be a corporate tax entity? Is it possible that they might qualify for a tax-free exit under Section 1202 so that a C corporation makes sense? Maybe an S election is better? Or is this all wrong and is a tax partnership structure far more appropriate? This course will help participants understand both how to advise clients to select a proper entity and how to structure the formation to reduce or totally eliminate immediate taxation.
Participants will be able to:
- Explain the advantages and disadvantages of various business structures
- Recognize new businesses that could be formed to allow a tax-free exit via Section 1202
- Properly report the transactions related to business formations on tax returns
Prerequisites/Advanced Preparation: Experience advising clients on tax matters
New Jersey Law and Ethics
New Jersey requires all active licensed accountants to take an ethics course during each triennial registration period. This course is written under New Jersey guidelines and has been approved by the Board of Accountancy as qualifying to meet the requirement. The New Jersey Society of CPAs and the State of New Jersey have adopted the rules of the AICPA Code of Professional Conduct (the Code) as clarified, revised, and codified by the AICPA’s Professional Ethics Executive Committee (PEEC). In this program, the Code is used to discuss regulatory ethics. The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed along with the most recent New Jersey laws and regulations.
Participants will be able to:
- Describe the statutes and regulations of the State of New Jersey
- Understand the AICPA Code of Professional Conduct, along with recent changes Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
- Identify the AICPA Code of Professional Conduct rules that apply to all members, including those in public practice and business.
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
- Understand the importance of and differences between the AICPA Code of Professional Conduct and New Jersey state laws and regulations Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
New Quality Management Standards
This course provides an introduction to the Quality Management Suite of standards issued in June 2022. These standards will require significant changes to the firm’s quality management processes, policies and documentation. It is effective for 2025 year-ends. Due to the extensive changes the standards will make to a firm’s system of quality control, it is important to get started early.
Participants will be able to:
- Identify the requirements of the recently issued Quality Management standards
- Implement the new standards based on firm complexity
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Nonstatistical Sampling for Efficient Audits
Auditors many times do little sampling as part of an audit as the result of a common misconception that sampling must be statistical. However, there are audit efficiencies that can be gained by considering the use of nonstatistical sampling techniques and applications. Understanding how to design these applications can improve efficiency and maintain effectiveness. This program illustrates the guidance in the current AICPA Audit Sampling Guide using a case study approach.
Participants will be able to select, perform, and evaluate samples.
Prerequisites/Advanced Preparation: None
Not-for-Profit Update
This course provides an update to the recent accounting pronouncements affecting not-for-profits, the not-for-profit landscape, recent audit pronouncements and very important updates for those performing single audits and other types of compliance audits.
Participants will be able to:
- Implement the most recent accounting and disclosure requirements impacting not-for-profit entities
- Evaluate how the changes to auditing standards impact their financial statement audits
- Recognize areas of risk in a not-for-profit and integrate the awareness of risk in financial statement audits
- Identify the most recent OMB, Federal agency, and Single Audit requirements and be able to test them
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Oil and Gas Taxation - Issues and Updates
The current federal tax laws are favorable for oil and gas producers. The current law recognizes the high-risk, capital-intensive nature of the industry with provisions such as two-year amortization for certain exploration costs, expensing intangible drilling costs, percentage depletion, abandonment losses, and favorable capital gains rates. This course is designed to explore and examine these favorable tax provisions to determine when they apply and how to maximize the tax benefits they provide. Participants will also be updated on the latest federal tax law changes, cases, rulings, and procedures that affect oil and gas producers.
Participants will be able to:
- Illustrate and analyze how tax incentives benefit oil and gas producers
- Learn the critical tax concepts of economic interest and pooling of capital
- Define and demonstrate the common forms of sharing arrangements
- Explain the general rules for what constitutes an oil and gas property
- Identify unique situations and determine how to properly apply the property rules in those situations
- Properly apply the property rules in order to maximize abandonment losses and depletion
- Review the various cost categories for oil and gas producers
- Determine correct tax treatment of lease and sublease and distinguish from a sale
- Demonstrate how to structure a mineral conveyance as a sale
- Illustrate tax consequences of conveying producing properties
- Identify transfer pricing regulations and guidelines
- Explain pass-through entity issues related to oil and gas
- Identify available tax credits
Prerequisites/Advanced Preparation: General knowledge about oil and gas taxation
Oil and Gas Taxation - Nuts & Bolts
Oil and gas taxation is one of the more complicated areas of the federal income tax system. The terminology, concepts, and specific rules are challenging to learn and apply. This course is designed to make this challenge less daunting by getting down to the “nuts and bolts” of oil and gas taxation.
Participants will be able to:
- Learn the operations of oil and gas exploration and production companies
- Introduce the accounting principles and practices related to the industry
- Review the various accounting methods employed by oil and gas producers
- Learn the common costs categories and sources of revenue for companies who produce crude oil and natural gas
- Learn the revenue recognition criteria in oil and gas industry
- Describe proper tax treatment for damages, easements, and intangible drilling costs
Prerequisites/Advanced Preparation: General knowledge about oil and gas taxation
Partnership and LLC Taxation - Advanced Issues
Congress has modified the audit rules for partnerships, adding additional complexity to an already complex area. This program covers allocation of basis in debt, step up in basis upon transfer, disguised sales, abandonment of partnership interest, special allocations of income and deductions, reallocation of depreciation among partners, reporting income from forgiveness of indebtedness, determining an LLC member’s self-employment income, and more. This is the program that gets participants ready to help their clients plan partnership and limited liability company transactions to minimize taxes.
Participants will be able to:
- Explain entity classification differences
- Describe the tax basics related to partnerships
- Identify and address formation traps related to partnerships
- Describe and understand details of partnership distributions
- Compute partner capital accounts and calculate income allocations using different allocation methods
- Determine and apply transactions between partners and the partnership
- Calculate the gain or loss on sale or exchange of partnership interests
- Recognize hot assets
- Assist clients in avoiding technical termination
- Identify situations resulting in basis adjustments
- Calculate and allocate basis adjustments
- Recognize events that can cause partnership termination and understand tax implications
- Explain the various types of partnership examinations
- Recognize anti-abuse regulations that apply to partnerships
Prerequisites/Advanced Preparation: Advanced knowledge of partnership and LLC taxation
Partnership and S Corporation - Basis and Distribution Issues
Basis is a fundamentally important issue when dealing with pass-through entities, as it impacts the equity holder’s ability to deduct losses and/or receive distributions without a negative tax impact. Additionally, distributions from the different types of pass-through entities are subject to differences in treatment that can have a major impact on the tax liability of the client. This course will look at the rules on calculating basis, limitations on loss deductions (including at-risk rules), and the treatment of distributions.
Participants will be able to:
- Understand inside and outside basis and gain/loss issues on formation
- Perform calculation of basis based on annual activities of the pass-through entities
- Understand how to structure distributions to avoid unpleasant, surprise tax liabilities
Prerequisites/Advanced Preparation: General tax knowledge
Pitfalls and Problems in Financial Statement Disclosures
This 4-hour program highlights the most common disclosure errors being made in financial statements. Special emphasis will be on problem disclosures identified in peer review and any new guidance that should be considered with regard to financial statement disclosures.
Note: This course should not be scheduled with Disclosure—The Key to Financial Statements.
Participants will be able to prepare disclosures for both public and non-public entities.
Prerequisites/Advanced Preparation: None
Preparing Complex 1040s
This program is designed for the accountant who is ready to handle the most complex individual client’s income tax preparation. The program will look at areas that vex CPAs when dealing with individual taxes, including the §199A qualified business income deduction, limitation on deduction of business interest under §163(j), passive activity rules, and the net investment income tax.
Participants will be able to:
- Solve complex 1040 problems
- Compute qualified business income deduction
- Compute tax on net investment income, additional withholding and tax on wages, and self-employent earnings
- Explain and compute AMT
- Identify and apply passive activity rules
- Recognize and advise clients on like-kind exchanges
- Define and apply at-risk rules
- Recognize existence of and compute amount of NOL and understand tax implications.
Prerequisites/Advanced Preparation: General tax knowledge
Professional Ethics Training for Texas
This ethics course for Texas CPAs covers standards of professional conduct and business practices adhered to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It provides a background on ethical principles and values, ethical codes and requirements included in the AICPA Code of Professional Conduct, and a focus on the Texas State Board of Public Accountancy Rules of Professional Conduct. It also presents an approach to coping with ethical dilemmas, the Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the responsibilities of Texas CPAs. The rules will be supplemented with case studies and the Board's enforcement actions. The intention is to provide participants with precise text from the Board, along with supplemental information to help them understand real-life situations or nuances.
Participants will be able to:
- Identify the characteristics of ethics
- Recognize ethical reasoning used by accountants
- Differentiate between rulings and principles of the AICPA Code of Professional Conduct
- Identify the six principles and list the eleven rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues using the threats and safeguards approach, a conceptual framework
- Recognize ethics rulings on independence
- Recognize the Texas State Board of Public Accountancy Rules of Professional Conduct
- Identify licensing and disciplinary mechanisms for Texas CPAs
Prerequisites/Advanced Preparation: None.
Professional Ethics for Alaska
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Arizona
Professional Ethics for Arkansas
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for CPAs
The AICPA’s Professional Ethics Executive Committee (PEEC) clarified, revised, and codified the AICPA Code of Professional Conduct in 2014. There have been many changes since then. In this program, we will use the Code as our basis for discussing regulatory ethics. The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed
Participants will be able to:
- Describe the revised AICPA Code of Professional Conduct, along with recent changes
- Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
- Describe AICPA Code of Professional Conduct rules applicable to all members, as well as rules applicable to members in public practice and members in business
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
Professional Ethics for Colorado
This is an ethics course for Idaho CPAs covering standards of professional conduct and business practices adhered to by accountants to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. Also included are some cases of AICPA ethics violations. Section 8 covers Idaho State Specific Ethics.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify key elements of the Accountancy Rules, including good moral character, renewal requirements, and practice privileges
- Recognize the rules of professional conduct included in the Idaho Accountancy Rules
- Recognize rules for continuing education, peer review, and fees and fines, as highlighted in the Accountancy Rules
Prerequisites/Advanced Preparation: None.
Professional Ethics for Connecticut CPAs
The AICPA’s Professional Ethics Executive Committee (PEEC) clarified, revised, and codified the AICPA Code of Professional Conduct in 2014 and has made many changes since then. In this program, the Code is used to discuss regulatory ethics. The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed along with Connecticut Board of Accountancy laws and regulations. This course qualifies for the three-year Connecticut ethics requirement.
Participants will be able to:
- Understand the AICPA Code of Professional Conduct, along with recent changes
- Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
- Identify the AICPA Code of Professional Conduct rules that apply to all members, including those in public practice and business
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
- Understand the importance of and differences between the AICPA Code of Professional Conduct and Connecticut state laws and regulations
Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
Professional Ethics for Delaware CPAs
Delaware requires all active licensed accountants to take an ethics course every two years. The Board has approved this course of Accountancy as qualifying to meet the requirement. The AICPA’s Professional Ethics Executive Committee (PEEC) clarified, revised, and codified the AICPA Code of Professional Conduct in 2014 and has made many changes since then. In this program, the Code is used to discuss regulatory ethics. The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed along with the most recent Delaware state laws and regulations.
Participants will be able to:
- Understand the AICPA Code of Professional Conduct, along with recent changes
- Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members.
- Identify the AICPA Code of Professional Conduct rules that apply to all members, including those in public practice and business.
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
- Understand the importance of and differences between the AICPA Code of Professional Conduct and Delaware state laws and regulations
Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
Professional Ethics for Hawaii
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Idaho
This is an ethics course for Idaho CPAs covering standards of professional conduct and business practices adhered to by accountants to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. Also included are some cases of AICPA ethics violations. Section 8 covers Idaho State Specific Ethics.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify key elements of the Accountancy Rules, including good moral character, renewal requirements, and practice privileges
- Recognize the rules of professional conduct included in the Idaho Accountancy Rules
- Recognize rules for continuing education, peer review, and fees and fines, as highlighted in the Accountancy Rules
Prerequisites/Advanced Preparation: None.
Professional Ethics for Illinois
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Indiana
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Iowa
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Kentucky
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Maine
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Maryland
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Massachusetts CPAs
This is an ethics course covering standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA) Prerequisites/Advanced.
Preparation: Basic knowledge of professional ethics rules and regulations.
Professional Ethics for Minnesota
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Missouri
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Nebraska
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Nevada
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for New Hampshire
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None.
Professional Ethics for New Mexico CPAs
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct • Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for New York CPAs
New York requires all active licensed accountants to take an ethics course every three years. The Board has approved this course of Accountancy as qualifying to meet the requirement. The AICPA’s Professional Ethics Executive Committee (PEEC) clarified, revised, and codified the AICPA Code of Professional Conduct in 2014 and has made many changes since then. In this program, the Code is used to discuss regulatory ethics. The program will address ethics rules applicable to CPAs in public practice, those in business, and others. Recent changes, interpretations, and non-authoritative guidance issued by PEEC will be discussed along with the most recent New York laws and regulations.
Participants will be able to:
- Understand the AICPA Code of Professional Conduct, along with recent changes
- Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
- Identify the AICPA Code of Professional Conduct rules that apply to all members, including those in public practice and business
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
- Understand the importance of and differences between the AICPA Code of Professional Conduct and New York state laws and regulations
Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
Professional Ethics for Oklahoma
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None.
Professional Ethics for Pennsylvania
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Rhode Island
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None
Professional Ethics for Vermont CPAs
This ethics course covers standards of professional conduct and business practices adhered to by accountants, such as CPAs, to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It also presents an approach—the threats and safeguards approach—to coping with ethical dilemmas. The Sarbanes-Oxley Act and its impact on business ethics, new internal control requirements, and the CPA’s responsibilities are summarized. Finally, a brief discussion of the AICPA’s Standards for Tax Service and the IMA’s Statement of Ethical Professional Practice are included.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different principles and rules of the AICPA Code of Professional Conduct
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Identify the key issues of corporate responsibility law (Sarbanes-Oxley act) that influence auditor independence
- Identify licensing and disciplinary mechanisms within the profession
- Identify the ethical standards required of accountants and financial professionals by the Institute of Management Accountants (IMA)
Prerequisites/Advanced Preparation: None.
Professional Ethics for Washington
This is an ethics and regulations course for Washington CPAs covering standards of professional conduct and business practices adhered to by accountants to enhance their profession and maximize idealism, justice, and fairness when dealing with the public, clients, and other members of their profession. It covers the Washington Public Accountancy Act, the Board’s rules and policies, the profession’s Code of Conduct (Code), and the differences between Washington State law and the AICPA Code. After completing this course, participants will have an understanding of the laws and regulations in Washington State governing accountancy, where to access those laws and regulations, and an understanding of the scope and nature of those laws and requirements.
Participants will be able to:
- Recognize ethical reasoning used by accountants
- Identify different characteristics of ethics
- Identify independence and objectivity issues
- Recognize ethical standards and violations
- Recognize rules as presented in Washington Public Accountancy Act
- Identify requirements of the Chapter WAC 4-30
- Recognize any differences between Washington State Board rules and AICPA rules
- Identify different principles, rules, and violations of the AICPA Code of Professional Conduct
Protecting Tax Information - Cyber-Security for the Tax Professional
The primary weakness in any information system arises from the people working in the system. An effective information security system for an organization handling tax information has to include training for every person in the firm that has access to electronic information—and, yes, that includes the managing partner. This course will concentrate on the information that non-IT professionals are required to know in order to interact with electronic information systems, as well as steps your firm needs to take to educate all members of the firm to prevent what could be an information breach that puts the firm’s very existence at risk.
Participants will be able to:
- Explain the current cybersecurity situation relating to tax practitioners and similarly situated businesses
- Describe the basic/minimum requirements that the IRS and the FTC place on tax practitioners as well as penalties and fines levied for non-compliance
- Define key information technology and cybersecurity terms
- Apply the required cybersecurity protections to your taxpayer data
- Explain and implement the National Institute of Standards and Technology (NIST) security framework requirements for securing taxpayer data
- Discuss how the Gramm-Leach-Bliley Act (GLBA) Privacy and Safeguards (Security) Rules are applicable to tax practitioners and how the FTC enforces compliance
- Describe the basic relevant laws and professional standards that apply to tax client confidentiality
- Report website security incidents/breaches to the IRS and state tax authorities
Prerequisites/Advanced Preparation: Working with tax information on electronic systems
Q&A to Ease the Day: Compliance and Governance Issues for NFP and Audit
The literature specific to nonprofit organizations continues to evolve and become more complex. Using the popular and fast-moving “Frequently Asked Questions” format, this course was compiled from questions asked of the author in their capacity as a technical reviewer and advisor to firms and nonprofit organizations. This course also provides an update on emerging governance issues.
Participants will be able to:
- Address major accounting and disclosure issues
- Understand the governance issues faced by nonprofits in today’s highly scrutinized and regulated environment
- Address auditing issues that arise in audits under the Uniform Guidance
Prerequisites/Advanced Preparation: Basic familiarity with nonprofit accounting
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Recent Compilation and Review Issues
The recent updates to Statements on Standards for Accounting and Review (SSARs) have changed how SSARs engagements are conducted. In addition to compilation and review services, practitioners can now offer preparation services that allow them to offer financial statement services in streamlined and more flexible procedures.
Participants will be able to:
- Identify the changes that have taken place in the compilation and review engagements
- Perform the services related to SSARS standards
Prerequisites/Advanced Preparation: None
Revenue from Contracts with Customers
Topic 606 has an impact on most U.S. GAAP financial statements either due to measurement and recognition changes from legacy U.S. GAAP and/or additional disclosure requirements compared to prior guidance. This 4-hour program will overview the key provisions of the topic, identify and apply the five-step revenue recognition model, describe the disclosure requirements, as well as discuss transition and business implications of the guidance. In addition, selected industry implementation guidance developed by the AICPA will be discussed.
Participants will be able to:
- Identify and describe the five steps involved in applying the revenue recognition model
- Identify and describe selected industry implementation guidance developed by the AICPA
- Identify the disclosures required in Topic 606 for both public and non-public entities
Prerequisites/Advanced Preparation: Basic knowledge of U.S. GAAP
Reviewing Documentation Effectively
Participants will gain the skills necessary to perform more efficient and effective quality engagements by:
- Understanding the documentation requirements and avoiding issues identified in peer reviews
- Quickly identifying deficiencies in performance
- Motivating staff to correct documentation “deficiencies”
- Minimizing peer review deficiencies Through a series of interactive cases, participants will practice reviewing engagement files.
Participants will be able to:
- Perform an effective review of documentation
- Document the review process
- Communicate deficiencies to staff
- Train staff in effective and efficient documentation techniques
Prerequisites/Advanced Preparation: Accounting experience
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
SSARS 25 - What You Need to Know
Practitioners must be aware of the changes and how their practice will be affected, particularly in review engagements. Even though the concept of materiality is not new, the standard provides guidance that has previously been associated only with audit engagements. SSARS 25 includes a specific requirement to determine materiality, including documentation. Other new requirements are specific to inquiries to more effectively design needed review procedures and changes to the language in the report letter that will include a reference to accountant independence and other ethical considerations, much like the audit’s new report letter. SSARS 25 also addresses required procedures and documentation when a qualified or adverse conclusion on reviewed financial statements is appropriate.
Participants will be able to:
- Identify the changes in required procedures and documentation on a review engagement
- Understand that all levels of service will now consider concepts such as materiality which have been previously assumed to be only related to audits
- Review illustrations and examples of the changes in the accountant’s report letter
- Understand the facts and circumstances when an adverse conclusion is required on a review engagement
Prerequisites/Advanced Preparation: None.
Sales Tax and the Remote Seller
It’s been several years since the U.S. Supreme Court issued its decision in the South Dakota v. Wayfair, Inc. case involving economic nexus. However, this past year has brought the issue to even greater attention as companies move toward remote workforces. The influx of remote sellers creates the need for an understanding of the sales tax function, state laws governing sales and use tax, and remaining compliant with nexus legislation and interpretive pronouncements.
Participants will be able to:
- Define what it means to be a remote seller
- Explain nexus regulations before and after the 2018 Supreme Court decision in the South Dakota v. Wayfair, Inc. case
- Describe the general principles around nexus
- Identify the effects of the changing workforce on sales tax audits, compliance, and planning
Prerequisites/Advanced Preparation: General tax knowledge.
Sarbanes-Oxley Act
The Sarbanes–Oxley Act of 2002, also known as the Public Company Accounting Reform and Investor Protection Act and Corporate and Auditing Accountability, Responsibility, and Transparency Act, and more commonly called Sarbanes–Oxley or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms. A number of provisions of the act also apply to privately held companies, such as the willful destruction of evidence to impede a federal investigation. This course will review the 11 sections of the Sarbanes-Oxley Act of 2002 with emphasis on the most important sections for companies to remain in SOX compliance.
Participants will be able to identify and describe what it means to be SOX-compliant in the area of internal control.
Prerequisites/Advanced Preparation: None
Schedules K-2 and K3 - Why Even Partnerships and S Corporations with No Foreign Activities or Members May Need to Prepare These Forms
In early 2021 the IRS posted updates to the instructions for the new Schedules K-2 and K-3 for partnerships and S corporations that pointed out that most entities with no international activities or foreign equity holders will need to provide information via these Schedules unless they obtain information from each equity holder. The IRS has followed these revisions up with new guidance related to these forms that further modify the filing rules. In this session we'll look at the conditions under which these Schedules must be prepared by partnerships and S corporations, as well as steps that can be taken to obtain information from equity holders that may allow the entities to avoid the preparation of the forms.
Participants will be able to:
- Prepare Schedules K-2 and K-3 for partnership and S corporation income tax returns
- Use information from Schedule K-3 included with a partner’s K-1 to prepare the individual return
- Recognize situations where the penalty relief for 2021 can be applied, as well as understand penalties the IRS claims it can assert if the form is not properly completed
- List the dates the IRS expects to allow full MeF/XML filing for Schedules K-2 and K-3 for S corporations and Forms 8865
- Advise clients on the use of the option to attach PDFs for all 2021 returns
- Identify partnerships and S corporation data needed by clients to prepare international tax information
- Understand what data must be obtained from partners/shareholders for a partnership or S corporation to potentially not be required to file Schedules K-2 and K-3
Prerequisites/Advanced Preparation: Prior knowledge of partnership and S corporation tax issues
Section 199A Explored - Planning for Qualified Business Income
The Tax Cut and Jobs Act created a brand-new, important planning opportunity for those working with small business clients. This course will look at applying the provisions of IRC Section 199A to reduce clients’ tax burden. As well, this course will help attendees evade the traps that exist for the unwary in these new and exciting provisions of the law.
Participants will be able to:
- Identify the businesses that are eligible to use the Section 199A deduction
- Determine what types of businesses will be treated as specified service businesses
- Explain qualified property
- Apply the W-2 wages/qualified property limit on the amount of the Section 199A deduction
- Use tax planning to reduce taxable income to below the threshold amounts for ineligible or limited businesses
- Assist clients in making an entity choice
Prerequisites/Advanced Preparation: Understanding of individual income taxes
Single Audit Essentials and Update
Auditors performing Single Audits and other compliance audits accept a significant amount of risk. Not only are the rules voluminous but they are ever changing. Peer reviewers and agency reviewers have identified numerous issues with Single Audits resulting in firms being referred to the AICPA ethics division. This is why it is critical that those who perform work under Government Auditing Standards (Yellow Book), the Uniform Guidance or other agency compliance audit guides understand and properly test and document compliance with those requirements. To complicate matters the Single Audit landscape has been in flux for two years ever since the federal government began providing COVID-19 funding. It is important to be up to date on filing deadlines, the latest compliance requirements, and changes to the Uniform Guidance. This course will discuss the essentials of performing Single Audits, the most recent guidance on federal awards for not-for-profits, governments, and for-profit entities and recent peer review and agency findings. This course will benefit accountants working in industry who are handling any aspect of federal award compliance.
Participants will be able to:
- Identify and be able to test the most important aspects of a single audit.
- Identify the most recent OMB, Federal agency, and Single Audit requirements.
- Be aware of risk areas in audits identified by peer reviewers and agencies.
- Test those requirements
Prerequisites/Advanced Preparation: Basic understanding of single audit
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Social Media in Business
Businesses are shifting advertising away from more traditional means to social media. Through the use of social media applications such as Facebook, LinkedIn, Twitter, and YouTube, accountants can reach a greater number of potential clients, customers, partners, and so on while utilizing less money than traditional advertising methods. In addition, social media has become a great place for accountants to share ideas and generate guidance on issues they may not be familiar with in order to gain competency to work on the engagement. This program will address the use of social media in business. It will focus on tips and tricks to generate leads and help increase a firm’s online presence through social media. It will also discuss common ethical pitfalls involved with social media.
Participants will be able to:
- Describe the different social media platforms that are available
- Network using social media
- Set up business profiles on social media platforms
- Develop thought leadership on social media platforms
- Identify ethical issues relating to social media
- Interpret guidance on ethical use of social media
- Create a social media policy
- Measure investment in social media
- Shift advertising budgets based on social media usage
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Strategic Planning Process
Company executives operate their company in a constantly evolving competitive market with certain advantages and disadvantages of their organization. These executives need to continuously monitor changing industry and competitive dynamics while building their company’s sustainability and shareholder value. This course provides an overview of how to evaluate a company’s strategic position and future prospects.
Participants will be able to evaluate a company’s strategic position and determine future prospects.
Prerequisites/Advanced Preparation: None
Streamlined Tax Staff Training - Business
From books to tax returns—that’s the mission. But how do you get started? How can you identify and keep track of different reporting for different types of entities? How different is Form 1065 from Form the 1120S? Those questions and many more will be answered in this information-packed program.
Participants will be able to:
- Identify differences in how information is presented in income tax returns of various business entities
- Efficiently prepare Forms 1065, the 1120S, and 1120
- Prepare various common supporting forms, such as Form 4797, reporting sales of property
- Recognize tax planning concepts and develop efficient tax research techniques
Prerequisites/Advanced Preparation: General tax knowledge
Streamlined Tax Staff Training - Complex Return Issues
The computer can do the calculations, but some analysis and exercise of trained judgment are also required. This fast-paced program offers “next step” training for accountants ready to tackle complex individual tax return issues. It focuses on problem-solving and applying the tax law’s complex reporting requirements. Program materials include valuable checklists and quick reference guides to enhance efficiency and save valuable time.
Participants will be able to:
- Solve tax basis problems with mutual fund redemptions and sales
- Compute the proper qualified business income deduction for an individual taxpayer
- Calculate and report AMT adjustments and preferences
- Compute an individual NOL
- Identify and report tax matters associated with divorce and dependent children.
- Claim “Real Estate Professional” status and make an election to aggregate rental activities
- Report and claim investment interest • Properly classify “passive activities” •
- Take full advantage of Schedule C deductions.
Prerequisites/Advanced Preparation: Experience with individual tax returns
Streamlined Tax Staff Training - Individual
Essential knowledge for the new income tax return preparer presented in an information-packed day of practical instruction. Return preparation techniques are illustrated using real-life situations culled from hundreds of “tax organizers” and thousands of client questions. This program is a great jump start for the career of the new accountant.
Participants will be able to:
- Identify tax issues and when to ask for help
- Interpret client information—real estate closing statements, Forms 1099R, Forms 1099 from mutual funds, and Forms 1099B from brokers to properly classify and report transactions.
- Analyze supporting documents for tax information
- Prepare Forms 1040, 4562, 4797, 6251, and others efficiently (with or without a computer)
- Use IRS publications and information at www.irs.gov to answer tax questions efficiently.
- Be a productive tax team member, communicating clearly with a return reviewer.
Prerequisites/Advanced Preparation: None.
Tales of Corruption 2022: Ethical Misdeeds
This course is designed with information from actual "ripped from the headlines" ethics cases. Most of these cases are on the end of ethical misdeeds, but a lot can be learned about "doing the right thing" from examining these cases. An ethical decision-making model will be presented for each case. The key to utilizing an ethical decision-making model is appreciating how each may be useful depending on the circumstances. By better realizing what is needed in a given situation, you can better choose the right decision-making model to address necessary issues. This course has been approved by the Virginia Board of Accountancy (VBOA) to fulfill your 2022 ethics requirement. After completing this course, participants should be able to:
- Evaluate small ethical breaches and their potential to escalate
- Recall the American Institute of CPAs (AICPA) Code of Professional Conduct when faced with ethical dilemmas
- Categorize the elements of pressure, opportunity, and rationalization in relation to fraud
- Define an ethical problem, identify, and evaluate solutions, and determine the best course of action
- Recognize the building blocks of a strong ethical culture
Prerequisites/Advanced Preparation: None.
Tax Ethics 2022: Navigating Client Needs and the Law
Certified public accountants, also tax professionals, are subject to various rules from different sources. Failure to comply could result in adverse consequences, both personally and professionally. At the core of compliance with the rules is ethics. This course will be a reference guide for tax professionals as they navigate ethical dilemmas and make ethical decisions related to the intersection of clients’ needs and the rules and guidance relating to tax practice. This course has been approved by the Virginia Board of Accountancy (VBOA) to fulfill your 2022 ethics requirement. After completing this course, participants should be able to:
- Recognize how to appropriately use Treasury Department Circular No. 230, Regulations Governing Practice before the Internal Revenue Service.
- Identify how to connect Circular No. 230 guidance with that provided by the American Institute of CPAs (AICPA), including that provided in the AICPA's Code of Professional Conduct and Statements on Standards for Tax Services.
- Detail how the Code of Virginia 54.1-4413.3 Standards of Conduct and Practice regulates persons who use the CPA title in Virginia, including those who are tax professionals.
Prerequisites/Advanced Preparation: None
Tax Exempt Organizations - Operating, Organizing, and Preparing Forms
For tax-exempt organizations, it is not about calculating income tax. It is about showing to the IRS at inception and annually that the organization is entitled to be classified as a tax-exempt organization because of its purpose as reflected in its management and activities. Exempt organizations have unique tax rules and special forms. The IRS is especially sensitive to abuses of exempt status. From fundamentals needed to obtain an exemption and to prepare Form 990, this program teaches what the informed accounting and finance professionals in public practice and inside a tax-exempt organization must know.
Participants will be able to:
- Understand special filing requirements of exempt entities
- Distinguish between charitable and other not-for-profit entities
- Recognize unrelated business income
- Prepare Form 1023, 1023-EZ, or 1024 and related schedules
- Prepare Form 990, 990-EZ, and 990-N and related schedules
- Be aware of traps and pitfalls that can lead to penalties or loss of exempt status
Prerequisites/Advanced Preparation: None.
Tax Exempt Organizations - Planning and Compliance for Tax Matters
Tax-exempt organizations are subject to a variety of complex tax rules and can be exposed to penalties if their everyday operations are not carefully monitored. The IRS is expanding audit coverage of all types of exempt organizations, concentrating on “governance” issues. This program addresses the major tax issues exempt organizations face from a transaction planning and compliance perspective.
Participants will be able to:
- Recognize unrelated business taxable income (UBTI) issues
- Apply tax law to the calculation of UBTI
- Report UBTI correctly
- Recognize the exceptions to the UBTI rules
- Understand the tax implications of advertising and sponsorship
- Understand and properly handle unrelated debt-financed income
- Recognize other unrelated business taxable income issues
- Determine appropriate handling of political activity and legislative lobbying
- Recognize when intermediate sanctions are applicable and what rules must be observed to avoid exposure to them
- Recognize circumstances where disclosure is necessary and when exceptions to the general disclosure rules exist
- Understand the tax return’s focus on management and policies
Prerequisites/Advanced Preparation: Experience with tax-exempt organizations.
Tax Practitioner Responsibilities and Ethics
Tax practitioners are under increased regulation as to their tax practices. Both the IRS and AICPA have increased the responsibilities of practitioners. The IRS imposes penalties for those who do not follow their regulations. Many practitioners are unaware of how simple procedures can result in severe disciplinary action. This course is great to book with Accounting, Auditing, and Tax Considerations for the Cannabis Industry.
Participants will be able to:
- Understand the responsibilities that are required by Circular 230
- Understand complex preparer penalties and ways to avoid them
- Understand how the AICPA Code of Professional Conduct, Tax Standards, and Attestation Standards affect tax practitioners
- Understand the need to address properly (or avoid) client requests for comfort letters
Prerequisites/Advanced Preparation: Basic knowledge of professional ethics rules and regulations.
Tax Practitioner's Guide to Accounting and Reporting Issues
This course approaches financial statement preparation and review from the perspective of a tax practitioner. Often tax motivated clients have different needs with regard to financial statements.
Topics in the program are:
- Be able to compare and contrast tax returns and tax basis financial statements
- Know U.S. GAAP versus tax differences and disclosure requirements
- Tax and other special purpose financial statement frameworks
- Reporting requirements for SSARS engagements
- Recent changes to GAAP that affect closely held businesses
- Frequently encountered reporting and performance issues by tax practitioners Participants will be able to:
- Identify differences between U.S. GAAP requirements and the tax return
- Recognize problems in performance and documenting of preparations, compilations, and reviews • Apply accounting standards and appropriate disclosure
Prerequisites/Advanced Preparation: None
Tax Staff Training - Advanced Issues
Designed for the accountant with more than two seasons’ tax experience who is ready to take more responsibility for providing and supervising tax services to clients, this program includes income taxation of estates and trusts, special rules affecting controlled groups, and transfers of partnership interests. Program participants will learn how to comply with professional standards, prepare written tax advice, represent clients before the IRS, and produce quality tax research using Code, Regulations, IRS Published Guidance, Committee Reports, and case law.
Participants will be able to:
- Handle complex tax issues, including suspended losses, NOLs, accounting method changes, controlled groups, debt forgiveness, and AMT credit
- Deal with “in-charge” responsibilities
- Produce written tax advice
- Deal with the IRS
- Review returns and tax research prepared by others
- Apply current developments to planning for existing clients
- Develop a technical “head start” on a tax specialization
- Comply with professional standards
Prerequisites/Advanced Preparation: Two or more tax seasons experience
Understanding Fringe Benefits for Tax Planning
Fringe benefits are a significant part of every company’s overhead and a concern for every employer. Help clients or employers comply with Congress’s revisions to the health care laws, make effective use of fringe benefits, and reduce income and payroll tax burdens in the process. During this one-day program, participants will learn how to most effectively use major fringe benefit options to contain costs and increase employee job satisfaction.
Participants will be able to:
- Identify opportunities to use various fringe benefit programs to reduce total compensation costs
- Evaluate benefit options and special programs
- Explain fringe benefits to owner-manager clients or employers
- Create opportunities for consulting with clients
- Comply with the rules affecting employer health care benefits
Prerequisites/Advanced Preparation: General tax knowledge
Understanding and Testing Internal Control
Internal controls over financial reporting are used to prevent, detect, and correct misstatements. They also help to reduce the chance that fraud will occur. The auditor is required to obtain an understanding of an entity’s controls as part of the risk assessment process. This workshop will allow participants to explore the design of controls over the significant systems typically found in small- to mid-size clients. Participants working in the industry will find this course useful in challenging the level of internal controls currently implemented in their organizations. Participants will also learn to efficiently document their understanding of the controls and determine where it is either necessary or efficient to test them. Participants will be able to:
- Apply the five COSO elements of internal control
- Differentiate between understanding and testing internal controls
- Document the understanding of internal controls at the appropriate level
- Test and document the results of tests of internal controls
- Communicate deficiencies in internal control
Prerequisites/Advanced Preparation: Basic audit course or experience
Qualifies for the 24-hour Yellow Book requirement. The determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Understanding the COSO Framework for Internal Controls
Internal controls over financial reporting are used to prevent, detect, and correct misstatements. They also help to reduce the chance that fraud will occur. The auditor is required to obtain an understanding of an entity’s controls as part of the risk assessment process. This workshop will allow participants to explore the design of controls over the significant systems typically found in a small and medium-sized clients through the use and understanding of the COSO framework. Participants will be able to:
- Describe the evolution of internal controls and its impact on the profession
- Recognize the professional requirements and guidance related to internal control considerations in an audit, including their relationship to risk assessment
- Develop a basic understanding of how to test and audit internal controls
- Identify and assess the principles of the COSO Framework related to entity-level controls that applies to the control environment, risk assessment, information and communication, and monitoring
- Apply and document understanding of control activities elements of the COSO Framework
Prerequisites/Advanced Preparation: Basic audit course or experience.
Uniform Guidance Compliance Update
Compliance auditing is a significant risk area for firms. This course will discuss any changes to the Uniform Guidance that will affect current-year audits, discuss best practices for compliance audits, and identify any issues within compliance audits that the authors feel may be a focus of regulators for the upcoming year. Participants will be able to:
- Identify issues in compliance audits that are the focus of regulators and the AICPA
- Implement best practices for addressing compliance “hot spots”
- Identify the changes to the newly issued Yellow Book standards
Prerequisites/Advanced Preparation: None
Qualifies for the 24-hour Yellow Book requirement. The determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.
Unique Taxation Issues Related to Special Purpose Acquisition Companies
In recent years, Special Purpose Acquisition Companies (SPACs) have gained popularity setting new highs for a number of SPACs transactions and the dollar value of SPACs transactions. More than $70 billion was raised by SPAC in 2020, which was nearly five times the previous high of $12 billion in 2019. Understanding SPACs is important for companies making acquisitions and participating in public securities markets. This course will review the unique taxation issues related to special purpose acquisition companies or SPACs.
Participants will be able to:
- Define SPACs and their role at a basic level
- Identify and describe basic SPACs formation tax issues
- Identify and describe the de-SPACing tax issues
Prerequisites/Advanced Preparation: None
Virginia's Regulatory Landscape for CPAs 2022: What You Need to Know
The CPA designation carries a value to each CPA. While the value is most obvious through its positive impact on professional careers, the CPA also brings opportunities for a professional to serve in volunteer roles and obtain a valued position in society. The favored status of CPA brings an expectation of good judgment, integrity, quality of character and other positive attributes. Therefore, to maintain the value of our profession, CPAs must seek to obtain and maintain the public's trust in professionalism, judgment, and skills. In large part, that is why an ethics course is required for all Virginia CPAs.
This course contains the foundation of what you need to know to maintain your license and make sound decisions while practicing every day. We designed this course to help you navigate the many different rules and expectations any CPA should consider when making decisions daily. This course has been approved by the Virginia Board of Accountancy (VBOA) to fulfill your 2022 ethics requirement. After completing this course, participants should be able to:
- Recognize the difference between law, regulation, policy, and ethics.
- Specify how to demonstrate sound ethical judgment using the code of professional conduct.
- Identify the rules that govern the profession in the Commonwealth of Virginia.
Prerequisites/Advanced Preparation: Be a licensed CPA in the Commonwealth of Virginia.
Worker Classification Explained
This course will explain why it is so difficult for employers to determine whether a worker should be an employee or an independent contractor properly. It will also explain why it is important to get the classification correct. The reasons for proper classification are extensive, and the determination is complex. This course will give you a good start in tackling this complex situation.
Participants will be able to:
- Identify some of the common differences between what it is to be an employee versus an independent contractor.
- Identify and apply the various tests used to determine worker classification and understand why these are important.
- Understand how various laws impact the worker classification decisioning
- Review recent litigation that has resulted from incorrect classification to avoid or minimize audits and lawsuits
- Learn how to correct misclassifications
Prerequisites/Advanced Preparation: None
Workplace Retaliation
Corporate ethics risk has never been higher than in the current environment. One corporate misstep could mean the difference between business continuity and failure in today's ever-changing, extremely competitive business environment. Remote work and employee concerns with a healthy work environment increase risks.
Now more than ever, employers should place heightened importance on compliance within the workplace, where employees should not fear retaliation for reporting improper activity or safety concerns. In this course, learn about workplace retaliation laws to educate and protect employees, avoid costly workplace disputes, and avoid harming your company’s reputation.
Participants will be able to:
- Recognize the ethical and legal ramifications of retaliation
- Identify protections under various employee protection laws such as:
- False Claims Act (FCA)
- Whistleblower Protection Act (federal and selected state laws)
- Fair Employment and Housing Act (FEHA)
- Occupational Safety and Health Act
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Affordable Care Act
- Recent case law
- Describe the common reasons for workplace retaliation
- Explain the company’s role in preventing retaliation claims
- Build a workplace non-retaliation policy
Prerequisites/Advanced Preparation: None