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Financial & Tax Accounting for Partnerships & LLCs

Total Credits: 4 including 4 Accounting - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Tax Institute |  Accounting and Auditing
Speaker:
Steven C. Dilley, CPA, JD, PhD
Course Levels:
Intermediate
Duration:
4 Hours
License:
Never Expires.
Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.
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Description

This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities, with a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed.

This course does not qualify for IRS credit.

Basic Course Information

Major Subjects
  • Review of the AICPA financial reporting framework for small and medium-sized entities
  • Integration of these financial reporting approaches with accounting for issues in the formation of partnerships and LLCs
  • Financial accounting issues arising from changes in ownership of partnership and LLCs
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Review of Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting for partnerships/LLCs with the Form 1065
  • Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests
  • Deferred tax accounting for partnerships/LLCs

Learning Objectives
  • Apply financial accounting in the partnership setting with special emphasis on accounting for capital accounts
  • Identify the Accounting Standards Codification and OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs

Handouts

IMPORTANT_CPE Credit Instructions_Read Before Webcast_Updated_2_2025 (442.6 KB) Available after Purchase
Financial & Tax Accounting for Partnerships & LLCs Handout (13.4 MB) Available after Purchase

Speaker

Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products

Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.

Dates

Fri, May 09, 2025 - 11:00am to 02:37pm EDT
Thu, May 29, 2025 - 01:00pm to 04:37pm EDT
Tue, Jun 03, 2025 - 06:00pm to 09:37pm EDT
Thu, Jun 12, 2025 - 05:00pm to 08:37pm EDT
Mon, Jun 23, 2025 - 09:00am to 12:37pm EDT
Wed, Jul 09, 2025 - 11:00am to 02:37pm EDT
Tue, Jul 29, 2025 - 01:00pm to 04:37pm EDT
Sat, Aug 09, 2025 - 03:00pm to 06:37pm EDT
Wed, Aug 27, 2025 - 05:00pm to 08:37pm EDT
Wed, Sep 10, 2025 - 09:00am to 12:37pm EDT
Tue, Sep 23, 2025 - 11:00am to 02:37pm EDT
Thu, Oct 09, 2025 - 01:00pm to 04:37pm EDT
Tue, Oct 28, 2025 - 06:00pm to 09:37pm EDT
Mon, Nov 03, 2025 - 05:00pm to 08:37pm EST
Tue, Nov 18, 2025 - 09:00am to 12:37pm EST
Tue, Dec 02, 2025 - 11:00am to 02:37pm EST
Fri, Dec 12, 2025 - 01:00pm to 04:37pm EST
Tue, Dec 23, 2025 - 03:00pm to 06:37pm EST
Fri, Jan 09, 2026 - 05:00pm to 08:37pm EST
Tue, Jan 20, 2026 - 09:00am to 12:37pm EST
Sat, Feb 07, 2026 - 11:00am to 02:37pm EST
Mon, Feb 23, 2026 - 01:00pm to 04:37pm EST
Fri, Mar 06, 2026 - 03:00pm to 06:37pm EST
Tue, Mar 24, 2026 - 07:00pm to 10:37pm EDT
Tue, Apr 07, 2026 - 09:00am to 12:37pm EDT
Wed, Apr 22, 2026 - 11:00am to 02:37pm EDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of financial accounting
Advanced Preparation

None


Designed For CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current
Original Recording Date 04/2025
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 03/11/2025

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

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