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Preview: Lorman Accounting Teleconferences

Lorman Accounting Teleconferences



Industry Leading & Respected Continuing Education



Last Build Date: Sun, 24 Sep 2017 11:30:01 GMT

 



Accounting Rules for Business Combinations and Other Consolidation Issues

Sun, 24 Sep 2017 02:00:33 America/Chicago

October 16, 2017

Applying the Definition of a Business

• Existing Definition of a Business

• Recent Changes to the Definition of a Business

• Accounting Implications of the Change in the Definition of a Business



Determining the Transaction Price

• Contingent Consideration

• Employment Agreements

• Acquisitions Without Transaction Prices



Accounting for Assets and Liabilities Acquired

• Identifying Assets and Liabilities

• Fair Value: Accountants Interaction With Valuation Specialists

• The Effect of Income Taxes

• Computing Goodwill or Gain



Pushdown Accounting

• The Meaning of Pushdown Accounting

• Choosing the Best Method

• Addressing Transaction Costs and Reporting Matters



Common Control and Consolidation

• Common Control Transactions

• Acquisition of Variable Interest Entities

• Impact of Adoption of the New Consolidation Guidance






Bridging the GAAP: The New Lease Accounting Standards, Lease Drafting and Negotiations

Sun, 24 Sep 2017 02:00:26 America/Chicago

November 6, 2017

Overview of New Accounting Rules: Cross-Cutting Legal Implications



Background

• Timeline of Project and Results

• Pervasive Impacts Across the Company

• Types of Leases - IASB and FASB Differences



Cutting Through the Fog: Drafting and Negotiating Tips

• Key Differences Between Existing and New Rules

• Examples of Financial Statement Impact and Differences



Dealing With Subjective Issues: SOX, SEC, GRC and Drafting Considerations

• Type A vs. Type B Leases

• Disguised Minimum Rent

• Renewals and Significant Economic Incentives (SEI)

• Examples of the Impact of SEIs on Financial Statements



The Mechanics of the New Rules: Transaction Structure and Financial Results

• Minimizing Balance Sheet/Shareholder Equity Impacts

• Maximizing EBITDA Results

• The New World of Sale-Leasebacks



Errors With Existing Lease Accounting Rules: Restatements and SEC Actions



Moving Toward Implementation: Practical Steps to Take Now






Estate Basis Reporting Requirements Update

Sun, 24 Sep 2017 02:00:06 America/Chicago

October 31, 2017

IRC Section 1014(f) – New Basis Consistency Rules

• How to Determine the Final Value of Assets

• How to Avoid Possible Traps Resulting in Underpayment Penalties

• What the Controversial "Zero-Basis Rule" Means to Your Client



IRC Section 6035 – New Reporting Requirements

• How to Determine If You Need to File Form 8971

• How to Complete Form 8971

• How to Determine If Supplemental Filings Are Needed

• How to Determine Which Assets Need to Be Reported

• How to Complete Schedule a for Beneficiaries

• What the New "Subsequent Transfer" Rules Mean to Your Client



Sections 6662(k) and 6724(d)(1)(D) Penalties

• When Will Penalties Apply?

• How to Establish Reasonable Cause to Avoid Penalties



Legislative Update






Pennsylvania Entity Law: Act 170 Update

Sun, 24 Sep 2017 02:00:11 America/Chicago

October 25, 2017

Overview



New Nonprofit and Public Benefit Entities



New Full Shield Protection for Partners



Financial Rights vs. Governance Rights in LLCs and Partnerships

• Limits on Transfer of Governance Rights

• Charging Orders and Creditors Rights



Member Authority in LLCs



Expanding Freedom of Contract

• Eliminating or Alternating Fiduciary Duties

• Varying Other Obligations






Tax Planning and Guidance for Business Travel and Entertainment Deductions

Sun, 24 Sep 2017 02:00:32 America/Chicago

September 28, 2017

Travel Expenses

• Tax Home

• Temporary Work Assignment

• Deductible Travel and Lodging Expense

• Rules for Traveling Outside the U.S.

• Luxury Water Travel and Conventions



Meals, Entertainment and Gifts

• Deductible Meals Expense

– Limits on Meals Deduction

– Deductible Entertainment Expense

• Deductible Gift Expense and Limits



Proof of Expenses

• Using per Diem Methods

• Accountable and Unaccountable Plans

• Recordkeeping and Reporting






Understanding the K-1 Issued by the Limited Partnership or LLC

Sun, 24 Sep 2017 02:00:22 America/Chicago

October 26, 2017

Introduction to the Issue: The K-1 Is Wrong

• Why Doing Nothing Is Not an Option



Mastering the Four Corners of the K-1

• Overview of What Is in the K-1

• What Is Not in the K-1

• Knowing What the Instructions Say

• Examples of K-1 Problems



What Must Be Done First

• Identify Errors and Implications

• Review Agreements

• Documenting Dispute and Obtaining More Information

• Internal Resolution and Amended K-1

• No K-1 Issued



IRS Form 8082 - Notice of Inconsistent Treatment and the 2015 Repeal of TEFRA

• Understanding How Partnerships Are Audited by the IRS After 2015 Repeal of TEFRA

• What Form 8082 Does and Does Not Do

• Implications of New Audit Rules

• No More TMPs - Who Is Your Partnership Representative?



Practical Examples and Case Studies

• Partner Identification and Classification

• Account and Liability Issues

• Line Item Issues

• Unidentified Partner Issues

• Foreign Partnership Filings (Form 8865)