CPE & Event Catalog

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.

Leveraging prompt engineering in ChatGPT for various accounting tasks. Exploring the applications and limitations of ChatGPT in accounting. Empowering efficiency for everyday accounting tasks.

Extensive review of the partnership tax laws with an emphasis on any new legislative changes. Overview of different forms of business entities including the check-the-box regulations. Formation issues including the mandatory allocation of the Sect. 704(c) pre-contribution gain or losses back to the contributing partner/member. Schedule K and K-1 separately stated versus non-separately stated income and expense items. Detailed Schedule K-1 reporting including the 20% qualified business income (QBI) deduction and 3. 8% net investment income tax. Calculating the tax and Sect. 704(b) book capital accounts. Substantial economic effect requirement to have special allocations to the partners/members. Allocation of recourse and non-recourse debt on K-1s. Guaranteed payment issues and tax treatment of fringe benefits. Self-employment tax issues and pitfalls. Tax treatment of distributions cash versus non-cash and liquidating versus non-liquidating. Sales and liquidations (redemptions) of partnership interests. Sect. 754 optional basis adjustments and mandatory adjustments.

Extensive review of the partnership tax laws with an emphasis on any new legislative changes. Review the Form 1065 to learn how income statement items get reported on the partnership/LLC tax return and flow-thru to the partner/members on Schedule K-1. Analyze the Schedule K-1 line-by-line and discuss where the items get reported on the individual's Federal income tax return and how the items affect the partner/members outside basis. Look at detailed Schedule K-1 information reporting to partners/member's needed for the qualified business income (QBI) deduction, 3. 8% net investment income tax and business interest expense limitations. Formation issues including the mandatory allocation of the Sect. 704(c) pre-contribution gain or losses back to the contributing partner/member. Calculating the tax and Sect. 704(b) book capital accounts. Reporting recourse and non-recourse debt on the Schedule K-1Tax ramifications and reporting of cash and non-cash distributions including disproportionate distributions of hot assets. Overview of the Sect. 754 election for optional basis adjustments triggering Sect. 743 (transfer of interests) and Sect. 734 (distributions).

Legislative and regulatory changes in estate and gift taxation. Wealth transfer strategies under the new administration. Charitable deduction planning and compliance requirements. Advanced estate planning tools, including split-interest trusts. Using closely held stock for charitable contributions. Generation-skipping transfer tax planning. Strategic use of life insurance in estate planning.

Emerging trends like changes in client expectations, supplier strategies, and competitive dynamics. AI and advanced software innovations with tailored solutions for service lines like tax, audit, advisory, and niche industries. Next-gen automation tools, including the role of machine learning, RPA, and advanced analytics in streamlining operations. Optimal technology stacks to enhance firm productivity, efficiency, and profitability. Cybersecurity advancements. Proactive approaches to safeguarding client and firm data.

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.

Properly assessing inherent, control, and fraud risk on an engagement, and linking the results to an appropriately tailored detailed audit plan based on risk assessment and client service goals, regardless of entity type (for-profit, nonprofit, governmental). Leveraging strong substantive analytic procedures as audit evidence to cut back on tests of details. The most common efficiency opportunities for tailoring your audit approach based on risk. How to use the workpaper review process as a tool for producing a more effective and efficient engagement. Using audit documentation to enhance audit quality, while ensuring every workpaper has a purpose. How to use the client to your advantage in planning and performing the audit. Learn how to get the engagement out the door on time and on budget.

Money laundering overview. Role of tax examiners and auditors. Tax return examination. Pre-audit indicators. Audit flags. Real estate issues. Cash indicators. International trade signals. Loan considerations. Professional service provider concerns. Money laundering and ethics.

Challenges of marketing CPA firms. Developing marketing strategy. Elements of a marketing plan. Example: CPA firm marketing plan. Marketing regulatory/AICPA issues. Picking the right marketing channels. Marketing channel statistical analysis. Developing marketing metrics.

Introduction to ChatGPT and its applications in the business advisory context. In-depth exploration of enterprise evaluation methodologies like SWOT, PESTLE, BCG Matrix, McKinsey 7S Model, Ansoff Matrix, etc. Practical case studies demonstrating application of ChatGPT in accounting business analysis. Key challenges faced by accounting firms and how ChatGPT can help overcome these. Best practices for implementing AI tools in the accounting sector. Future opportunities and trends in AI-enhanced business advisory services.

Overview of the OneDrive Sync app functionality. Step-by-step review and demonstration of how to deploy this app. Installing the Sync app on your local devices. Configuring the files and folders to synchronize toy your local device. Manage the locally stored files. Best practice tips for using the Sync app and avoiding common mistakes.

Active and passive investing. Dividend-paying stocks, value stocks, and the net investment income tax. Favorable capital gain strategies and the netting process. Exchange-traded funds (ETFs), stock options, and straddles.

Financial statements, disclosures and presentations. Review of two annual financial reports (IFRS and U.S. GAAP).

Major provisions of GAAP Codification Topic No. 230. Statement classification issues. Reporting operating cash flows: Direct and indirect methods. Preparing the statement: Workpaper techniques. Useful cash flow ratios. Bankruptcy prediction using the statement of cash flows.

The Numbers: Exemptions, exclusions and discounts. Portability and step-up in basis. Asset valuation. Deductions: Marital, charitable, transmission and administration. Retirement plan assets, annuities and life insurance. Trust funding and administration.

Best practices for documenting complex and subjective procedures and conclusions, such as estimates, substantive analytic procedures, etc. that impact the nature and extent of audit documentation needed to support audit conclusions. Discussing the financial statement audit risk concept, including how proper application better ensures a higher quality audit. Tips for an efficient workpaper review process that complies with relevant standards. Understanding the quality control standards and guidance related to a CPA firm's responsibilities for its system of quality control. Explain the importance of establishing, applying, and monitoring quality control policies and procedures related to audit documentation.

Major provisions of security and privacy policies. Key risks associated with using commercial AI tools. Steps to take to mitigate AI security and privacy risks.

Understanding the timing elements of your day's working capital. The impact of inventory on the Cash Conversion Cycle. How vendors and customers can help your cash conversion cycle. Planning and forecasting for a healthy cash flow. Assorted management tips to control the Cash Conversion Cycle.

Inventory accounting. GAAP. Methods for dealing with variances.