Proper Financial Accounting for Partnerships and LLCs
Online
4.00 Credits
Member Price $129.00
Non-Member Price $159.00
Overview
Although they are the most common entities for small and mid-sized business, financial (book) accounting for partnerships and LLCs are rarely discussed. This course examines the proper financial accounting for these tax-driven entities.
Objectives
- Apply financial accounting concepts to partnerships and LLCs
- Identify planning strategies and potential pitfalls.
Highlights
- Importance of Partnership capital accounts
- Book vs tax capital accounts
- Partnership capital contributions
- Section 704(b) capital rules and OCBOA
- GAAP balance sheet impact of capital contributions
- Bonus and Goodwill methods
- Ceiling Rule and Remedial allocations
- GAAP partner capital accounts
Designed For
CPAs in public practice and members in industry seeking a better understanding of financial accounting for partnerships and LLCs
Prerequisites
Basic working knowledge of business taxation
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/Account/login. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Douglas Van Der Aa, Van Der Aa Tax Ed, LLC
Douglas J. Van Der Aa, CPA, JD Doug has been a discussion leader for Federal Tax Workshops in East Lansing MI for the past 9 years. He is a lively and energetic speaker – especially on the subject of taxes and ethics, and has extensive experience in leading discussions in conferences, seminars and webinars. Doug is a regular and highly rated speaker and seminar leader for the Michigan Association of Certified Public Accountants, as well as other organizations throughout the country. He has over 25 years of experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. Formerly, Doug was a Tax Manager with Hungerford, Aldrin, Nichols & Carter, P.C. in Grand Rapids, Michigan, where his practice concentrated on the tax needs of mid-sized closely held businesses. Doug served for 10 years as an adjunct professor for Grand Valley State University, teaching at both the undergrad and masters level.
Non-Member Price $159.00
Member Price $129.00