2024 Financial & Tax Accounting for S Corporations

Tuesday, April 01, 2025
Webcast or Webinar, Online
10:00AM - 1:37 PM (opens at 9:30 AM) EST
4Credits
Accounting and Auditing

Registration is Open

Members
$129.00 Regular Price
Non-Members
$159.00 Regular Price

CPE PowerPass Users

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$80.00 Members / $112.00 Non-Members
Course Type: Webcast
Course Code: 25/AC153220
Level: Intermediate
Vendor: ACPEN
Field of Study: Accounting

Overview:

This program addresses the many complex financial and tax accounting issues that are common in S corporation transactions, with discussion of common pitfalls and the new AICPA "small" GAAP accounting standards.

Objectives:

  • Identify financial accounting aspects of S corporations
  • Explore the common differences between financial accounting and tax accounting for S corporations

Major Topics:

  • Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations
  • Review of OCBOA/Special Purpose Frameworks and their relationship to financial accounting for S corporations
  • Review of the AICPA "small" GAAP rules
  • The impact of the entity's tax status history on its financial accounting
  • Deferred tax accounting for S corporations
  • Required S status financial accounting disclosures
  • Financial accounting impact of the C to S election and the S to C election
  • The relationship of financial accounting and the Form 1120S
  • Financial and tax accounting for S corporation shareholder equity account

Major Topics:

  • Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations
  • Review of OCBOA/Special Purpose Frameworks and their relationship to financial accounting for S corporations
  • Review of the AICPA "small" GAAP rules
  • The impact of the entity's tax status history on its financial accounting
  • Deferred tax accounting for S corporations
  • Required S status financial accounting disclosures
  • Financial accounting impact of the C to S election and the S to C election
  • The relationship of financial accounting and the Form 1120S
  • Financial and tax accounting for S corporation shareholder equity account

Designed For:

CPAs in public accounting and members in industry dealing with financial accounting issues of S corporations

Prerequisites:

Basic working knowledge of S Corporation reporting