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It also covers standards of professional conduct and business practices adhered to by CPAs in order to enhance their profession and maximize idealism, justice and fairness when dealing with the public, clients and other members of their profession. All tax professionals need to know the tax-economics of investing for themselves and their clients. This need is accentuated by the rapid rise of the Internet as a broad-based and effective investment tool. The tax professional is in a special position to detect a client’s need for financial planning. Preparing returns discloses assets, savings, business entities, and family members. Knowledge of the client’s assets, activities and the tax characteristics of available entities permit investment matching for maximum after-tax return.
- This course brings the practitioner up-to-date information on tax issues affecting interest and debt.
- Government auditing is essential in delivering an objective and independent view of government programs and services.
- The course covers commercial real estate financing, analyzing income property loans, and the lending processes involved.
- While tax reform visions have changed the tax on profits realized from the disposition of real estate, investors still seek escape hatches from the capital gain tax.
- Structured Query Language is a specialized programming language designed for interacting with a database….
- This understanding will be directly applied to the structuring and audit survival of multi-party and delayed exchanges.
- This course discusses generally accepted accounting principles for reporting both current and noncurrent liabilities on the balance sheet.
The ability to select the right operational technique is vital if the business is to survive, profit, and grow in today’s uncertain economic environment. The owner of a small business must be able to make the right financial decision based on sound mathematical reasoning in order to run the business efficiently. This course contains hundreds of filled-in examples, illustrations, practical applications, measures, procedures, rules of thumb, statistical data, exhibits, tables, graphs, and diagrams. They are presented to aid in the comprehension and successful solution of a particular problem.
Corporate Professionals
It also includes requirements and considerations related to performing an integrated audit. A primer on the basic theoretical concepts and the practical procedures of financial record keeping and reporting, and the use of financial and cost data in managerial decision making. It provides an understanding and working knowledge of the ApexCPE: Online CPE for CPAs fundamentals of financial and managerial accounting that can be put to practical application in day-to-day jobs of managers. Increasing globalization with related regulations continues to put pressure on accounting authorities to move towards a common global accounting framework – The International Financial Reporting Standards .
This course also explains how to apply the consolidation guidance in ASC 810, Consolidation. An asset is an item of economic value expected to yield a benefit to the owing entity in future periods. To provide information about liquidity, assets are divided into current and noncurrent assets on the balance sheet. This course discusses generally accepted accounting principles for reporting both current and noncurrent assets on the balance sheet. The course is designed to help you navigate common asset accounts with specific examples to illustrate the application.
Array formulas make it easier to perform tasks such as comparing and evaluating lists, mathematical operations, quantifying errors and identifying duplicates in data. These functions include SUMPRODUCT, the combination of the INDEX and MATCH functions and the AGGREGATE function. Simple fraud schemes that use social engineering techniques are gaining popularity in the United States. These schemes rely on trickery to persuade an unsuspecting employee to divert cash or sensitive information to the fraudster.
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The purpose of this course is to inform the reader of the various changes affecting accounting, compilation and review, and auditing engagements as well as a review and recall of existing standards. Topics include a summary of newly issued FASB statements, new statements issued by the Auditing Standards Board, changes in compilation and review, current and pending developments, practice issues, and more. Numerous FASB Standards have been issued requiring certain items to be measured and reported at “fair value” on the Balance Sheet. Prior to the release of ASC 820 Fair Value Measurements and Disclosures , the concept of “fair value” had never been formally defined in U.S. accounting literature. Since its issuance in September 2006, ASC 820 has become one the most controversial accounting standards ever released. This course provides a conceptual review of fair value accounting, as outlined in ASC 820 and other U.S. accounting standards. This course will also provide an overview of the authoritative guidance for auditing fair value measurements and disclosures, SAS No. 101.
The course helps business executives identify resources in their organizations that need to be protected. This course describes the requirements created by the Government Auditing Standards, known as the Yellow Book. Government auditing is essential in delivering an objective and independent view of government programs and services. It reinforces the expectation that the government entities will carry out their functions effectively, efficiently, ethically and in accordance with the applicable laws and regulations. In other words, an effective government audit activity strengthens governance by significantly increasing citizens’ ability to hold the government entities accountable through the use of internal or external audit services or a combination of the two. It combines the power of the Internet with the security of cryptography to offer, for example, cheaper and faster payment options than those offered by traditional financial services businesses, without a trusted third party.
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The focus of this class is on tax devices and techniques available to the small-business owner. Emphasis will be given to operational deductions, fringe benefits, compensation, family income splitting, retirement plans, and estate planning. This course examines and explains the practical aspects of using the closely held corporation to maximize after-tax return on business operations. Practitioners are alerted to often missed fringe benefits, retirement planning opportunities, corporate business deductions, income splitting possibilities and little known estate planning techniques.
- These schemes rely on trickery to persuade an unsuspecting employee to divert cash or sensitive information to the fraudster.
- This course will provide participants with a look behind the boardroom doors to evaluate the effectiveness of corporate governance systems.
- ASC 960 Plan Accounting-Defined Benefit Pension Plans and ASC 962 Plan Accounting-Defined Contribution Pension Plans address the plan accounting standards for defined benefit plans and defined contribution plans respectively.
- This course goes into well researched and newbie-friendly reflections about the most important aspects of cryptoassets.
- This course is designed to illustrate development, formulation, implementation, and evaluation of business strategy.
- Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements.
- In a modern economy, neither businesses nor individual investors can afford to be ignorant of the basic concepts of international finance.
The course emphasizes and develops an understanding of financial concepts, tools, strategies, and major decision areas related to the financial management of the business. This course is directed toward the businessperson who must have financial knowledge but has not recently had training in finance. Topics include a broad overview of business types and formation, funding, capital markets, tax planning, budgeting, financial statement and analysis and many other aspects of running a business. Many subjects are discussed with the intention of providing the business person with a quick introduction to commonly used business terms and requirements. It reviews and includes a minimum of one hour each on the AICPA Code of Professional Conduct and on the Arizona Statutes and Rules.
Statutes And Rules
It covers the specific Washington Public Accountancy Act and the Board’s rules and policies, the profession’s Code of Conduct , and the differences between Washington State law and the AICPA Code. This course includes 10 videos that provide a thorough coverage of how to read and analyze financial statements as well as how the analysis can be organized to identify and assess a company’s value drivers. It begins with videos covering the balance sheet, income statement, statement of cash flows and the statement of shareholders’ equity. It then https://accountingcoaching.online/ moves into the real world, focusing on Home Depot, its key performance measures, leading to a complete ratio analysis. Home Depot’s performance is then compared to that of Lowe’s Home Improvement in terms of the basic ratios, more much more importantly using an ROE-based model that highlights the companies’ value drivers. This course on accounting for governmental entities is intended to be used by anyone who would like to gain knowledge of accounting and financial reporting currently recommended for state and local governmental units.
Organizations need an established internal audit function, operating in full compliance with accounting and regulatory standards. They need a group that is already well equipped to meet the challenge of good governance and transparency of internal control effectiveness and efficiency. This course incorporates and discusses up-to-date guidance from the IIA and the 2013 COSO Framework. It not only addresses the theoretical principles of the internal auditing but it also provides readers with the practical guidance they need to assume a role in the internal audit function in their organizations. It addresses the nature and significance of internal auditing by examining its purpose, scope, and transformation.
Generic types of business strategies and techniques for analyzing strategies are also covered. In this course you are going to learn about the financing strategies for your business throughout its lifecycle. You will learn about all the various debt and equity financing arrangements at an application-based level. In the debt sections of the course, you will learn about how operating lines of credit works and what to watch out for.
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It presents the AICPA Code of Professional Conduct, along with the threats and safeguards approach to coping with ethical dilemmas. The Louisiana State Board Rules of Professional Conduct are discussed in different sections of the course, in case studies, and in relevant sections where the AICPA rules are discussed.
The course will examine tax issues relating to the formation and operation of partnerships. Participants will gain a familiarity with basic areas of partnership taxation so as to recognize a problem and have at hand some practical knowledge for its solution. This comprehensive book describes and compares sole proprietorships, partnerships, limited liability companies, “C” corporations and “S” corporations. It examines their advantages and disadvantages, permitting the reader to properly select the right business entity for their tax and liability needs. Major emphasis is given the maximization of tax benefits in each business format. Fringe benefits, retirement plan alternatives, and nonqualified deferred compensation are discussed in detail.
Remote Accounting Manager
Section II deals with how to disclose and present tax-basis financial statements. A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses such as Nokia, Lucent Technologies, energy, and internet-related businesses conducted questionable practices. Many of the issues surrounding the SOX Act-especially Section 404, Internal Control over Financial Reporting and Sections 302 and 906, Management Certifications -are discussed.
- This course is designed to identify the significant differences, by accounting area, between US GAAP and IFRS Standards.
- Included in this Act were tax law changes and other changes that individuals, partnerships, and corporations will see in the bankruptcy procedures and qualifications.
- In any given three-year reporting period, you must have a minimum of 120 hours, with 8 of those hours being in regulatory or behavioral ethics.
- The Earned Income Credit is a refundable tax credit that has a significant impact on United States revenue and, in the 2019 tax year, amounted to almost $63 billion claimed by more than 25 million tax filers.
The course is a great resource and way for professionals and staff alike to easily review major tax topics and bring their professional knowledge up to speed. It is a working guide to help you quickly pinpoint in the complex world of business. – What to look for – What to do – What to watch out for – How to do it The course has concepts, guidelines, and rules of thumb to help you conceptualize, analyze, and evaluate many business-related problems. Part I takes covers the world of business strategy, management, marketing, and legal environments of business.
Before launching into an estate planning program, it’s important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.
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You will also learn some valuable new tools, such as activity-based costing , life-cycle costing, target costing, and corporate balanced scorecard. Chapters 4, 5, and 6 take a look at financial analysis tools, financial metrics, and financing methods for decision making. Through break-even and sensitivity analysis, you’ll be able to move your company toward greater profits. For investment purposes, this part presents guidelines for evaluating proposals, whether they are short or long term, for profit potential and risk-return comparisons. You’ll learn management and financing techniques to ensure the best possible strategies for maximizing and acquiring cash.
The emphasis is on using tax solutions to ease family economic concerns permitting the practitioner to be a real tax hero. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act , legislation designed to provide economic relief for those impacted by COVID19, became law. This course provides a general review of the principal provisions of the CARES Act and of other federal tax-related stimulus legislation passed during 2020, including the Tax Relief Act of 2020 signed into law on December 27, 2020. This course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital and financial setbacks. Property transfers, asset divisions, alimony, filing status, exemptions, and child support are examined. The cancellation of indebtedness income inclusion rules are discussed in the context of debt forgiveness and property foreclosure. The tax treatment of property repossession under Section 1038 and bad debt treatment under Section 166 is reviewed.
The growing acceptance of IFRS as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. The International Accounting Standards Board and their U.S. equivalent have made commitments towards the convergence of U.S. GAAP and IFRS and are working to eliminate as many differences between the two Standards as possible. In addition, the Securities and Exchange Commission has endorsed the outright adoption of IFRS in the United States. Therefore it is clear that IFRS represents the future of financial accounting and reporting in the United States. Module 5 of the IFRS Learning Module series presents an overview of IFRS 8 Operating Segments; this overview includes a detailed discussion of the processes for identifying, aggregating and reporting operating segments in IFRS financial statements. The course also discusses the IASB’s and FASB’s efforts towards achieving convergence in segment reporting.
It focuses on the key internal auditing concepts, such as the risk-based auditing approach, internal audit process, and the Three Lines of Defense Model. It also discusses how internal auditors play a value-added role with respect to the Sarbanes-Oxley Act Section 404 certification process. In addition, this course discusses how internal auditors help organizations effectively manage fraud risks and keep them protected. It discusses the key principles and measurements for proactively establishing an environment to effectively manage an organization’s fraud risk. It also includes a template which can be adapted for an enterprise-wide fraud risk assessment by incorporating all major business areas/units within the framework.
