CPE Catalog & Events

Concepts of the Single Audit under the Uniform Guidance Performing the compliance audit of federal awards, including testing auditee compliance and internal control over compliance Auditor reporting responsibilities including the compliance audit reports, the report on the schedule of expenditures of federal awards and schedule of findings and questioned costs Requirements for the schedule of expenditures of federal awards, known as the SEFA Update on the OMB Compliance Supplement

Review of select AICPA Technical Questions and Answers Upcoming changes to accounting for goodwill, leasing and business combinations Compilation and review standards and interpretations (SSARS) Auditing standards and interpretations (SAS & SSAE)

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

Elements of inventory cost and full-absorption costing Valuation methodologies, including LIFO, FIFO, weighted average, and specific identification Obsolescence reserves LIFO accounting Differences between book and tax cost capitalization and related income tax accounting Retail inventory valuation methodology Physical inventory observation approaches Accounting issues related to consigned inventory Other challenging issues related to inventory accounting

Residency status for U.S. federal income tax purposes Key provisions of U.S. income tax treaties Overview of the taxation of income from foreign entities Understanding Foreign Tax Credit Identifying foreign-source and U.S.-source income Foreign earned income and housing exclusion Foreign informational form filing requirements

Minimum distribution requirement changes by the SECURE Act 2.0 Latest guidance issued by the IRS related to required minimum distributions The calculation of required minimum distributions using the Uniform Life Table Required minimum distributions from multiple accounts New §401(k) rules of SECURE Act 2.0 Inherited employer retirement accounts and IRAs: Changes to spousal and non-spousal beneficiary distribution options and stretch IRAs under the SECURE Act Required minimum distributions in the year of death Roth conversions for estate planning and avoiding required minimum distributions Timing of distributions for maximum tax-free compounding Section 529 rollovers to Roth accounts under SECURE Act 2.0 Qualified charitable distributions from IRAs and the relationship between deductible IRAs and QCDs under the new anti-abuse rules. Includes SECURE Act 2.0 rollovers to CRUTs and CRATs Taxation of distributions Penalties for missed required minimum distributions and reasonable cause for abatement of penalties. Includes SECURE Act 2.0 changes

Narcissism Studies Fraud Embezzlement Technology used in scams

Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s (including the Form 7203-S Corporation Shareholder Stock and Debt Basis Limitations) Line-by-line analysis of the Schedule K-1s to determine how the items affect an S shareholder's stock and debt basis and a partner/member's outside basis and where the items get reported on Federal individual income tax return The three loss and deduction limitations on the owner's individual income tax return (i.e. basis, at-risk and other Form 1040 limitations) How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners Compare the tax treatment of the sale of a shareholder's stock in an S corporation and a partner's interest in a partnership What constitutes debt basis for an S corporation shareholder under the final regulations The tax ramifications of repaying loans to S corporation shareholders and on open account debt How recourse and non-recourse debt affect a partner or member's basis calculations and amount at-risk

Underlying concepts of internal control Defining where and why controls, policies and procedures are needed Legacy control measures that are still important for businesses today Creating control measures that address the use and protection of technology

When is the auditor required to follow the Yellow Book (aka Government Auditing Standards or GAGAS)? How the Yellow Book requirements relate to generally accepted auditing standards and the single audit requirements The different types of Yellow Book audit and attestation engagements that auditors may be called upon to perform The Yellow Book standards related to the qualifications of the auditor (i.e., requirements related to independence, CPE, peer review, and more) The Yellow Book requirements related to the performance of and reporting on a financial audit The Yellow Book requirements related to attestation engagements (i.e., examinations, reviews, and agreed-upon procedures engagements) and performance audits

High stakes conversations where the goal or outcome is paramount A Critical Conversation Worksheet to use as a tool Self-assessment of interpersonal approaches on a continuum from aggressive to silent  The stories: mine and yours — are they the same? Contrast statements for ensuring a shared understanding  Building confidence in conducting a Critical Conversation 

Typical provisions in state statutes regarding domicile and residency In depth analysis of domicile and residency definitions Issues regarding one’s permanent abode Analysis of jurisdiction where taxpayer has the greatest connections Detailed discussion of criteria used to establish domicile and residency

Financial planning pyramid What to consider when picking an entity Single member LLC vs. sole proprietorship Corporations – S vs. C Double taxation

Designing and performing sufficient audit procedures required for all audits, particularly when auditing privately-owned companies Identify controls that exist, especially when those controls are not clearly identified or formalized Evaluate if those controls prevent or detect material misstatements in the financial statements Design effective audit procedures (including testing of controls where appropriate) in response to the auditor's assessed risk of the potential material misstatements in the financial statements

Narcissism Studies Fraud Embezzlement Technology used in scams

Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s (including the Form 7203-S Corporation Shareholder Stock and Debt Basis Limitations) Line-by-line analysis of the Schedule K-1s to determine how the items affect an S shareholder's stock and debt basis and a partner/member's outside basis and where the items get reported on Federal individual income tax return The three loss and deduction limitations on the owner's individual income tax return (i.e. basis, at-risk and other Form 1040 limitations) How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners Compare the tax treatment of the sale of a shareholder's stock in an S corporation and a partner's interest in a partnership What constitutes debt basis for an S corporation shareholder under the final regulations The tax ramifications of repaying loans to S corporation shareholders and on open account debt How recourse and non-recourse debt affect a partner or member's basis calculations and amount at-risk

Underlying concepts of internal control Defining where and why controls, policies and procedures are needed Legacy control measures that are still important for businesses today Creating control measures that address the use and protection of technology

Comprehensive coverage of the Inflation Reduction Act, including: The Corporate Alternative Minimum Tax, The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, §45L New Energy Efficient Home Credit, Elective Payment, Transferability, and Prevailing Wage and Apprenticeship Requirements Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes Comprehensive coverage of the SECURE 2.0 Act with a focus on provisions applicable to employers Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions  Retirements and redemptions: considerations for partnerships and S corporations Timely coverage of breaking tax legislation Selected Practice and Reporting Issues: What’s new? A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited liability companies, and limited liability partnerships Form 1099-K reporting requirements Bonus depreciation  Section 174 Research & Experimental Expenditures -- new guidance under Notice 2023-63 and Notice 2024-12 FinCEN reporting requirements  A review of like-kind exchange transactions under §1031

Why customer service is not just having nice people; it is truly serving the customer Analysis of the value of the customer to compare it to various costs creating an ROI How to develop a compliance program that adds value to the customer A hard look at several companies and industries that have mastered the dual objectives How recent developments have affected compliance and customer service

Understanding what the metaverse is and what it is not How to access the metaverse Why accounting and other professionals should use the metaverse Where accountants can find their space in the metaverse How the metaverse is changing the way we work Ownership opportunities in the metaverse Work and taxation in the metaverse