Proper Financial Accounting for S Corporations

Overview

Proper financial accounting for S corporations involves adhering to specific accounting principles and tax regulations designed for this unique business structure.  This course examines the proper financial accounting for S Corporations.

Highlights

• Deferred tax accounting for S Corporations
• S elections and terminations – dealing with deferred taxes
• Financial accounting for capital stock and retained earnings
• S corporation shareholders’ equity
• Tax vs financial accounting for Accumulated Adjustments Account
• Financial accounting for loans to and from S shareholders

Prerequisites

Basic working knowledge of business taxation

Designed For

CPAs in public practice and members in industry seeking a better understanding of financial accounting for S Corporations

Objectives

• Apply financial accounting concepts to S corporations
• Identify planning strategies and potential pitfalls

Preparation

None