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I. FEDERAL INCOME TAXATION OF CORPORATIONS & SHAREHOLDERS
1. STRATEGIC TAX PLANNING
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include a detailed discussion of 75 of our finest strategic tax planning ideas in areas such as S corporations; unreasonable compensation; accumulated earnings; personal service corporations and qualified personal service corporations; discounts in valuing closely held stock; changes in method of accounting; passive activity losses; deductible interest; independent contractors; abatement of penalties; avoidance of state taxes; and much more. (6/6, 6/12, 6/24)
2. PURCHASE & SALE OF A CORPORATE BUSINESS
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include the principle methods of disposing of a business; dispositions of C/S corporation assets or stock including the sale of S stock to a purchasing corporation which makes a S338(h)(10) election; tax consequences to buyer/seller; allocation of consideration and information reporting on Form 8594 by buyers and sellers under Section 1060; a review of Section 197 on the amortization of intangibles such as goodwill, customer lists, and covenants not to compete; a discussion of the Norwalk, Frontier Chevrolet, and Bemidji cases; and much more. (6/17, 6/25)
3. SPECIAL PROBLEMS OF S CORPORATIONS
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include a detailed analysis of the built-in gains tax including case law developments; a review of the final regulations on the definition of passive investment income for purposes of SS 1375 and 1362(d)(3); highlights of recent tax legislation regarding S corporations; a reconsideration of C vs. S corporations in light of recent tax legislation; a review of issues raised by IRS in the audit of S corporations and their shareholders under the National Research Program on S corporations including unreasonably low compensation; and much more. (6/13, 6/18, 6/26)
4. TAX STRATEGIES IN COMPLETE LIQUIDATIONS AND REDEMPTIONS
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include the tax treatment at the corporation and shareholder levels of distributions in complete liquidation of C and S corporations under SS 331, 332, 334, 336, 337 and 338; and much more. (6/27)II. ESTATE, LONG TERM CARE, MEDICAID, & RETIREMENT PLANNING
5. ESTATE ADMINISTRATION
is a 1-day seminar (8 credits) led by Patricia Annino, Esq. Topics include a discussion of the probate process, probate vs. non probate assets; initial steps in administering an estate; the role of the executor; collecting assets, paying debts, disputing claims, court documents, how and when distributions are to be made to beneficiaries, tax considerations, litigation issues (title issues, contested claims, omitted spouse, omitted children, and will contests); and much more. (5/30)
6. ESTATE & DISTRIBUTION PLANNING FOR RETIREMENT BENEFITS
is a 1-day seminar (8 credits) led by Natalie Choate, Esq. This seminar explains the choices for designation of beneficiary for retirement benefits (pros, cons, and pitfalls of naming spouse, issue, credit shelter trust, marital trust, or charity as a beneficiary), the 100 best and worst planning ideas for your clients’ benefits; qualification for marital deduction; taking distributions prior to age 59 ½; extending IRAs to the next generation; Roth IRAs; how to leave benefits to a trust; latest developments; and much more. (If you register for this seminar, please add $24 to your registration fee to cover the extra cost of the extensive manual). (6/6)
7. BASIC ESTATE PLANNING FOR ACCOUNTANTS & THEIR CLIENTS
is a 1-day seminar (8 credits) led by Steven Cohen, Esq., and Eric Oalican, Esq. Topics include the essentials of estate planning for accountants and their clients such as the effect of different forms of property ownership; the probate process and its avoidance; the importance of a proper will; trusts in estate plans, powers of appointment, choice of trustee, general tax impact, and the liability which you undertake if you serve as trustee; use of trustee certificates to transfer real estate to a trust; homestead protection, property tax exemptions and trusts; durable powers of attorney; living wills and health care proxies; nominee realty trusts; basic federal and state estate tax planning considerations including the gift tax annual exclusion and the marital deduction; changes made by recent tax legislation; and much more. (6/13)
8. FORMS 706, M-706 & 709 PREPARATION WORKSHOP
is a 1-day seminar (8 credits) led by Robert Stewart, Esq. Preparation of Form 706 includes filing requirements; definition of gross estate; valuation; alternate valuation; property in which the decedent had an interest; transfers with retained life estate; annuities; joint interests; proceeds of life insurance; definition of taxable estate; deductions for expenses, debts, and taxes; marital deduction; and unified credit. Preparation of Form M-706 includes the basic form and the interrelationship with the federal return; the use of the 1999 Form 706 in determining the MA tax; differences between current and 1999 laws which impact M-706 preparation; uses of certain deductions and elections for MA purposes, such as expense deductions and alternate valuation, when no federal return is required, and lien releases. Preparation of Form 709 includes filing requirements; the recently revised format of the return; transfers subject to gift tax and the impact of generation skipping taxes; definition of taxable gifts; exclusion; and much more. (6/17)
9. CURRENT ESTATE PLANNING TECHNIQUES
is a 1-day seminar (8 credits) led by Robert Stewart, Esq. Topics include planning for clients with moderate and large estates after the EGTRRA of 2001 including the use of the gift and estate tax marital deductions and two death planning, federal and state; forms of marital deduction including the QTIP trust; life insurance planning including irrevocable insurance trusts; other irrevocable trusts for estate tax savings; gifting techniques including the use of family limited partnerships and nominee trusts for real estate; estate freezing including business freezes, GRITS, GRATS, GRUTS, and personal residence trusts; problems with closely-held businesses, including S corporation stock and QSSTs; disclaimers; planning for the non-citizen spouse; recent MA legislation limiting the phase-out of the state death tax credit; and much more. (6/24)
10. LONG TERM CARE (LTC) PLANNING FOR ACCOUNTANTS AND THEIR CLIENTS
is a 1-day seminar (8 credits) led by Marilee Driscoll, CLU, CSA, and author of The Complete Idiot's Guide to Long Term Care Planning. Twenty-three percent of LTC is paid for out of pocket at typical costs of $90,000+ per year in MA. The objectives of this seminar are to obtain a thorough understanding of the topic relative to personal finances and retirement planning decisions - what long term care is, how long it lasts, how much it costs, when government programs (Medicare, Medicaid, VA) pay, and how long term care insurance works; proper LTC insurance policy design, and how policies that look the same may differ; how to review a policy; how to protect against premium rate increases, and what to do if this happens; personal and business deductibility; state incentives to purchase LTC insurance; and much more. (6/9)
11. MEDICAID PLANNING FOR CLIENTS & THEIR ADVISORS
is a 1-day seminar (8 credits) led by Steven Cohen, Esq. Topics include a detailed analysis of the recent dramatic federal changes to the Medicaid transfer rules; the Division of Medical Assistance’s newest regulations and decisions; how to preserve assets; the risk to the primary residence; the use of trusts - revocable and irrevocable; liens and estate recovery; the basic rules of Medicaid eligibility; strategies for protecting the spouse of a nursing home resident; and trusts for the benefit of disabled children. The program also will include a discussion of Medicare benefits; durable powers of attorney; health care proxies; guardianship; and much more. (6/20)
12. PROTECTING YOUR ASSETS USING DOMESTIC AND FOREIGN ENTITIES
is a 1-day seminar (8 credits) led by Robert Eberle, Esq. Topics include structuring total asset protection plans using domestic and foreign trusts, limited partnerships, limited liability companies, corporations, and other entities and tools. The seminar emphasizes methods of combining ownership of assets in multiple entities to provide maximum control and benefit with minimal ownership and exposure. Topics range from simple asset protection planning techniques such as exemption planning to complex topics including offshore planning and will include methods of protecting real estate, securities, retirement plans, savings, and other assets through various asset protection techniques. Particular emphasis is paid to recent developments and changes in the law that affect asset protection and planning. The seminar’s purpose is to provide attendees with a basic understanding of the concepts, tools, and considerations utilized in asset protection planning and to familiarize them with some of the more exotic tools and techniques of the discipline. (6/3, 6/19)
13. TAX PLANNING STRATEGIES FOR RETIREMENT
is a 1-day seminar (8 credits) led by Jeffrey West, CPA/PFS, CFP.Topics include Qualified Plan Choices including the latest changes in cross-tested profit sharing (new comparability and ageless) and defined benefit plans which make the numbers sizzle; defined benefit plans for the successful business owner interested in contributing amounts too large for the defined contribution limits – and with the elimination of section 415(e), contributions get even better; Planning Strategies to maximize employer contributions while minimizing or tailoring employee contributions; integrating retirement planning with business continuation and estate planning; learning how to utilize new comparability to selectively benefit groups or individuals; Distribution Planning including turning your qualified plan into a multi-generation estate plan; minimizing income and estate taxes and avoiding early distribution penalties; 401(k) Planning – the list of alternatives available in administration and funding continue to grow, from the basic safe harbor plan to all of the bells and whistles – and now add one person plans to the list of options; and much more. (6/3, 6/11, 6/18)
14. BUSINESS VALUATION I
is a 1-day seminar (8 credits) led by John P. Murphy, ASA, MCBA. Topics include basic definitions; the valuation process; why businesses are valued; methods of valuation including the asset, market, and income approaches; how to analyze a business using quantitative and qualitative factors; use of discounts and premiums; common valuation errors; an overview of ESOPs; a discussion of case studies; and much more. (6/10)
15. BUSINESS VALUATION II
is a 1-day seminar (8 credits) led by John P. Murphy, ASA, MCBA. Using advanced valuation techniques and the case study approach, the seminar provides practical solutions to a broad range of business valuation issues including computing royalty rates and determining the value of intellectual property and intangible assets; valuation issues dealing with FASB No. 141 and 142; calculating damages in lost profits litigation; valuation issues dealing with Section 409A and SFAS 123R (Stock Options); determining synergistic value in mergers in acquisitions; exit strategies for stockholders (outright sale, synergistic buyer, IPO, ESOP), estate tax and estate planning (life insurance proceeds, discounts and premiums, LLC and family limited partnerships); and much more. (6/19)III. OTHER TAX SEMINARS
16. 2007 TAX LEGISLATION
is a 1-day seminar (8 credits including at least 2 credit hours on Ethics) led by Lucien Gauthier, Esq., CPA. Topics include a detailed discussion of the revelant provisions of the Small Business and Work Opportunity Tax Act of 2007 (5/25/07) including a detailed discussion of the new preparer penalty rules including Notices 2008-12 and 13 which apply to returns filed after 12/31/07 and before 1/1/09; the Prevent Taxation of Payments to Virginia Tech Victim’s and Families Act (12/19/07); the revenue provisions of the Energy Independence and Security Act of 2007 (12/19/07); the Mortgage Forgiveness Debt Relief Act of 2007 (12/20/07); the Tax Increase Prevention Act of 2007 (12/26/07); and, time permitting, the Economic Stimulus Act of 2008 and recent Supreme Court and other important judicial decisions and administrative pronouncements. (5/27)
17. 2008 TAX LEGISLATION / CURRENT TAX DEVELOPMENTS
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include a detailed discussion of the Economic Stimulus Act of 2008, and recent Supreme Court and other important judicial decisions and administrative pronouncements on issues such as the application of the 2% floor to an irrevocable trust (the Knight case); permitted use of the cash method; customer deposits; deferral of income; one year spread for taxpayer favorable adjustments; tax year rules for S corporations and PSCs; unreasonable compensation; accumulated earnings; passive activity losses, built-in gains, recharacterization of distributions by S corporations as wages for employment tax purposes; AMT; section 530 relief; valuation issues and discounts; preparer penalties; allocation to and amortization of covenants not to compete; and much more. (6/10, 6/11, 6/16, 6/19, 6/23, 6/30)
18. HOW TO HANDLE AN IRS AUDIT / APPEALS CONFERENCE
is a 1-day seminar (8 credits) led by Lucien Gauthier, Esq., CPA. Topics include the technical and practical aspects of representing a client on audit including audits under the Service's Market Segment Specialization Program; the taxpayer's objectives in the audit process, tactics in dealing with an agent, and strategies for closing the case; technical considerations in handling a case including the burden of proof, applicable statute of limitations, and statutory interest; penalties to avoid in the audit process including the 20% accuracy-related penalty, preparer penalties, and violations of Circular 230; how to negotiate a settlement at the agent level; minimizing the risk of audit in filing claims for refund; and techniques for managing tax risk in the planning process. Topics in the afternoon include factors in determining whether to appeal; how to write a "Protest"; conference procedure in docketed and nondocketed cases; and settlement practice and procedure including the types of settlements and the hazards-of-litigation standard. Numerous cases will be discussed. (5/30, 6/2, 6/3, 6/4, 6/9)
19. CIRCULAR 230/PREPARER PENALTIES/PROFESSIONAL ETHICS
is a 1-day seminar (8 credits including at least 4 credit hours on Ethics) led by Lucien Gauthier, Esq., CPA on 5/28 in W. Springfield, 5/29 in Marlboro, and 6/5 in Hyannis, and by Edward DeFranceschi, Esq. on 6/13 in Braintree, 6/18 in Wakefield and 6/25 in Waltham. Topics include a detailed discussion of federal preparer penalties (Section 6694(a) and (b) and Regs. Sec. 1.6694-1 to 1.6694-4); Disclosure Statement (Form 8275) and Regulation Disclosure Statement (Form 8275-R); rules applicable to practitioner conduct under Circular 230 as promulgated by the Office of Professional Responsibility; new MA preparer penalties (Section 35C); ethics rules promulgated by the MA Board of Public Accountancy governing accounting and tax practice, which incorporate by reference the AICPA Rules of Professional Conduct including the Statements on Standards for Tax Services (SSTSs); and much more. As you may know, MA now requires 4 hours of instruction on professional ethics for licenses expiring on or after 06/30/07; ME, NH, and, more recently, CT each require 4 hours of instruction on professional ethics every 3 years; and RI requires not less than 6 hours of instruction on professional ethics for the three-year reporting period beginning 01/01/08 and ending 12/31/10. Enrolled agents are required to take a minimum of 2 hours on professional ethics during each year of their 3 year enrollment cycle. The Vermont accountancy statute and rules differ significantly from those of the other New England states. (5/28, 5/29, 6/5, 6/13, 6/18, 6/25)
20. CASH METHOD / TAX ACCOUNTING STRATEGIES & CHANGES IN METHODS OF ACCOUNTING
is a 1-day seminar (8 credits) led by David Klemm, Esq., CPA. Topics include a detailed discussion of Regs. Sec. 1.471-1 regarding “merchandise”, Rev. Proc. 2001-10 ($1M Safe harbor), Rev. Proc 2002-28 ($10m safe harbor), and S448. Other topics include a review of the “all events test” the economic performance requirement, and the recurring item exception; the treatment of contested liabilities under S461(f); changes in method of accounting under Rev. Procs. 97-27 or 2002-9 S481 adjustments, and Rev. Proc 2002-19 (1 year spread of taxpayer favorable adjustments); treatment of deposits and advance payments under Indianapolis Power & Light and Perry Funeral Home; Rev. Proc. 2004-34 and Regs. 1.451-5; Final Regs. under 263(a) regarding amounts paid to acquire, create, or enhance intangible assets and the U.S. Freightways and Zaninovich cases; treatment of accruals to related parties under S267 and the 2 1/2 month rule in S404(b); and much more. (6/20)
21. TAX & FINANCIAL ASPECTS OF DIVORCE
is a 1-day (8 credits) seminar led by Peter Birkholz, MST. Topics include an overview of services to provide to the divorcing community as well as an analysis of the statutory provisions and case law with respect to alimony, child support, transfers of property incident to divorce, filing status, dependency exemptions, itemized/standard deduction, earned income credit, child tax credit, education credits, treatment of the principle residence under S121, home mortgage interest deduction, phantom income from divorce settlements, QDRO’s in qualified plans, and new rules on “innocent spouse” relief in section 6015. Worksheets for the financial aspects of divorce and helpful hints in serving divorcing clients will be discussed. (5/29)
22. SECTION 179 / DEPRECIATION / AUTOS
is a 1-day seminar (8 credits) led by Peter Birkholz, MST. Topics include increased expensing of depreciable assets under S 179 and the new 50% bonus depreciation rules enacted by the Economic Stimulus Act of 2008; applicable depreciation methods, recovery periods, and conventions; classification of property based on class lives; ADS; treatment of leased cars for purposes of S 280F; and adjustment for depreciation in computing AMTI. Topics also include the S 280F limitation on depreciation of luxury autos, additional limitations on personal use property; substantiation rules under S274; exclusion for business use of employer provided autos as a working condition fringe benefit; valuing personal use of autos by one of four special valuation rules; reporting and disclosure requirements for employer-provided autos; proper reporting of informal reimbursement arrangements for employee-owned vehicles; and much more. (6/2, 6/5)
23. NON-QUALIFIED & INCENTIVE STOCK OPTIONS
is a 1-day seminar (8 credits) led by Peter Birkholz, MST. Topics include a detailed discussion of the treatment of non-qualified stock options, incentive stock options, stock purchase plans, and stock awards for both regular tax and AMT; section 83(b) elections and the substantial risk of forfeiture rules; income and payroll tax reporting requirements; an analysis of several examples illustrating the tax planning aspects of compensatory stock arrangements; the refundable AMT credit beginning in 2007; and much more. (6/12)
24. DISREGARDED ENTITIES
is a 1-day seminar (8 credits) led by Paul Plourde, Esq., CPA. Topics include current developments regarding entities (single-member LLCs and QSubs) treated as disregarded entities; check-the-box regulations; self-employment tax imposed upon a single-member of an LLC treated as a disregarded entity; employment tax relating to employees of disregarded entities; state taxation of LLCs treated as disregarded entities; automatic classification change to a disregarded entity; tax consequences under Rev. Rul. 99-6 if status of an LLC changes to a disregarded entity; elective (Form 8832) classification change to a disregarded entity; IRS regulations on treatment of changes in elective entity; allocation of partnership liabilities where a partner’s interest is held through a disregarded entity; QSub status; Form 8869, state taxation of QSubs; tax-free reorganizations involving a disregarded entity; and much more. We recommend taking this seminar before taking LLC/LLP - Current Developments or Partnerships and Partners. (6/3)
25. LLC / LLP - CURRENT DEVELOPMENTS
is a 1-day seminar (8 credits) led by Paul Plourde, Esq., CPA. Topics include current developments of LLCs treated as partnerships; check-the-box regulations; self-employment tax imposed upon members of an LLC treated as a partnership; state taxation of multi-member LLCs (including withholding by partnership); automatic classification change to partnership; tax consequences under Rev. Rul. 99-5 if the status of an LLC changes to partnership; elective (Form 8832) classification change to partnership; IRS regulations on treatment of changes in elective entity; mergers of LLC with another LLC or other entities (corporation, limited partnership and general partnerships); conversion (by statute) of LLC into other entities or vice versa; recalculation of values under S 704(c) if an LLC merges into another partnership; pitfalls if an LLC is treated as S Corporation; and much more. We recommend taking this seminar after taking Disregarded Entities and before taking Partnerships and Partners. (6/10, 6/18)
26. PARTNERSHIPS & PARTNERS
is a 1-day seminar (8 credits) led by Paul Plourde, Esq., CPA. Topics include current developments under Subchapter K; allocation of partnership liabilities under S752; formation of partnerships under S721; allocation of profits and losses under S704 (including allocations under S704(c) attributable to assets whose values have increased or decreased prior to contribution); taxation under S707 attributable to partnership payments to partners (including guaranteed payments under S707(c)); taxation under S731 attributable to liquidating and non-liquidating distributions by partnerships; taxation under S736 attributable to partnerships distributions to retiring partners or deceased partners; taxation under S741 attributable to sale of partner’s equity interest in partnership (including installment sales or situations where underlying partnership holds hot assets under S751); positive adjustments (if S754 election in effect) and negative adjustments (mandatory or if S754 election is in effect) to inside basis attributable to partnership assets; and much more. We recommend taking this seminar after taking Disregarded Entities and LLC/LLP - Current Developments. (6/26)
27. SECTION 1031 LIKE-KIND EXCHANGES
is a 1-day seminar (8 credits) led by Moore McLaughlin, Esq., CPA. Topics include Rev. Proc. 2008-16 and the recent Moore case involving vacation homes, rules governing Qualified Intermediaries and how to select a Qualified Intermediary, as well as a review of the basic statutory requirements and the rules governing deferred exchanges; an in-depth discussion of reverse exchanges, construction exchanges, exchanges involving related parties, and special emphasis on current problems in exchanging such as exchanges involving partnerships, financing considerations, and exchanges involving tenant-in-common (TIC) interests. Also, look forward to a lively discussion on current trends and pitfalls involving 1031 exchanges, including use of 1031 exchanges in estate planning; and much more. (6/12)
28. FEDERAL INCOME TAXATION OF REAL ESTATE
is a 1-day seminar (8 credits) led by Moore McLaughlin, Esq., CPA. Topics include recent cases and legislation affecting real estate developers, owners, and investors. In addition, discover which planning techniques can save your clients taxes while protecting their assets from creditors and achieving their estate planning goals. Discussion will include the tax consequences of the use of multiple entities, including Domestic Asset Protection Trusts and Delaware Series LLCs, for real estate ownership and development. Special attention will be given to an update of cases affecting 1031 exchanges and converting ordinary income into capital gains for real estate developers and dealers. Discover additional tax planning techniques that are currently being used in anticipation of increased capital gain rates following the Presidential election; and much more. (6/19)
29. REAL ESTATE COST SEGREGATION STUDIES
is a 1-day seminar (8 credits) led by Philip Mann, CPA. Topics include allocating assets to 39, 15, 7 and 5 year lives resulting in increased depreciation in earlier years; permanent savings when buildings are sold; future write-offs when structural components are replaced and the various depreciation techniques utilized. The impact on Cost Segregation Studies of Revenue Procedure 2004-11 and the IRS MSSP Audit Technique Guide on Cost Segregation Studies will be discussed in detail. In addition, an overview of the Energy Tax Incentives Act of 2005 will be presented outlining the available deductions and/or credits available for buildings. (6/16)
30. INTERNATIONAL TAXATION OF CORPORATIONS
is a 1-day seminar (8 credits) led by Kenneth Vacovec, Esq. Topics include a survey of tax issues related to corporations operating internationally including source of income, residence of the business entity, and foreign tax credits; review of controlled foreign corporations and Subpart F income including contract manufacturing and related topics, passive foreign investment companies; foreign corporations operating in the United States; tax treaty issues; withholding, reporting, and filing requirements for businesses operating internationally including Forms 1020F, 5471, 5472, and 8865; and much more. (6/11)
31. MASSACHUSETTS SALES & USE TAXATION
is a 1-day seminar (8 credits) led by Stephen Politi, Esq. Topics include an in-depth analysis of the MA sales/use tax including the concepts of sale, sale at retail, sale price, tangible personal property, telecommunication services, purchaser, vendor, and engaged in business in MA; applicable exemptions including non-profits, sales for resale, manufacturing, R & D, and casual sales and other exemptions; sales/use taxation of E-Commerce; new out-of-state contractor rules; new responsible person rules; newly revised small business sales tax exemption for energy purchases; new downloaded software rules; newly enacted incentives for the motion picture industry; MA adoption of the Sales and Use Tax Administration Act; and much more. (6/4)
32. MULTISTATE TAXATION – A MASSACHUSETTS PERSPECTIVE
is a 1-day seminar (8 credits) led by Stephen Politi, Esq. Topics include jurisdiction and nexus (including physical, economic, and attributional nexus) to tax for corporate, personal income, and estate tax purposes; a detailed review of the MA Nexus Regulation and the Wrigley decision of the U.S. Supreme Court; the duty of out-of-state vendors to collect and remit use taxes as clarified by the Quill decision of the U.S. Supreme Court; allocation and apportionment of income for corporate income tax purposes including a detailed review of the MA apportionment regulation; state income taxation of the Internet; a discussion of apportionment for personal income tax purposes; recent MA tax legislation; and much more. (6/13)
33. PLANNING TO REDUCE MASSACHUSETTS TAXATION - NEW TAX LEGISLATION
is a 1-day seminar (8 credits) led by Stephen Politi, Esq. Topics include a review of newly enacted and proposed tax legislation (including Code Update, new preparer penalties, new tax incentives for software firms, new responsible person rules, etc.); recent judicial decisions; recent administrative pronouncements including DOR's proposed non-resident income tax regulation; a thorough review of Massachusetts tax practice and procedure including audit, assessment, abatement and appeal (including dispute resolution) and collection (liens, levies, seizures, and offers in compromise); removing domicile from Massachusetts; and much more. (6/27)IV. ACCOUNTING & AUDITING SEMINARS
34. ACCOUNTING AND FINANCIAL REPORTING (GAAP) FOR NOT-FOR-PROFIT ORGANIZATIONS
is a 1-day seminar (8 credits) led by Frank Monti, CPA. This seminar will discuss the practical implementation of FAS 116, 117, 124, and 136 as they impact your work for not-for-profit organizations. The seminar assumes that you have read these pronouncements and want to participate in a discussion of implementation problems and issues. This seminar has been completely rewritten and qualifies toward the 24 hour requirement for Yellow Book. (5/28)
35. ADVANCED ISSUES - COMPILATION & REVIEW
is a 1-day seminar (8 credits) led by Prof. Richard Delgaudio, CPA. This seminar focuses on when to issue a compilation or review report. Topics include differentiating between a trial balance and a financial statement, reporting on tax returns used as financial statements, reporting on financial statements generated as a result of write-up work, “plain” paper financial statements, and recent developments in compilation and review including the recent Compilation and Review Alerts; the discussion also will include modifications to the standard report because of departures from GAAP, accounting changes, and going concern and scope limitations; reporting on OCBOA and personal financial statements will be reviewed; and much more. (6/4)
36. 2008 FASB / SSARS & SAS UPDATE & REVIEW
is a 1-day seminar (8 credits including 2 credit hours on Ethics) led by Prof. Richard Delgaudio, CPA on 6/5 in Braintree, 6/17 in Waltham, 6/25 in Wakefield, and 6/26 in Marlboro, and by Prof. John Armstrong, CPA on 6/23 in W. Springfield. Topics include the newly issued FASB 141R, Business Combinations, FASB No. 160, Noncontrolling Interests, FASB Nos. 157-159; new SSARS Nos. 16 and 17; the AICPA compilation and review and audit risk alerts; new ethics and independence rulings; impact of the Sarbanes-Oxley Act on auditors of closely-held businesses; fraud update; and much more. If you register for this seminar, please add $20 to your registration fee to cover the extra cost of the extensive FASB manual. (6/5, 6/17, 6/23, 6/25, 6/26)
37. ACCOUNTING ETHICS
is a one-half-day seminar (4 credit hours on Ethics) led by Michael Pakaluk, Ph.D., author of Understanding Accounting Ethics. The seminar considers the theoretical basis of accounting ethics with application to high-profile case studies (Enron, WorldCom) as well as cases and practical dilemmas taken from daily practice. Topics include whether it is sufficient to follow GAAP and GAAS; why accounting is a profession rather than merely a business and what that really means; why accounting is inherently ethical; what it means to have high altruistic demands placed upon accountants; why accounting principles cannot be exhaustively captured in explicit rules; the ineliminability of good judgment in accounting; the uses and abuses of “bright line” criteria; the theory of the 'virtues' and its application to accounting; how ethics can really be taught within a firm; why, objectivity, public trust, and due diligence are important as ethical ideals; and the direction of accounting reform since Enron. This one-half day seminar is priced at $132, and this special pricing can be combined with the special pricing that applies to our 1-day seminars. (6/9, 6/10, 6/16, 6/20, 6/23)V. OTHER SEMINAR OFFERINGS
38. STRATEGIES FOR COLLEGE
is a 1-day seminar (8 credits) led by Todd Fothergill, Managing Director of Strategies For College, Inc. This seminar is designed for CPAs who seek to understand the workings of the college financial aid delivery system, how to determine eligibility for various types of financial aid, and how to strategize with clients about college costs and planning. It also is suitable for those professionals who will have children of their own entering college within the next five years. The seminar utilizes multiple case studies that model a range of incomes and net worth and how these are interpreted by the financial aid system. Recent changes in the financial aid policies of highly selective New England Colleges also will be discussed. Participants should bring a calculator (and some Tylenol) to this seminar. (6/4, 6/5, 6/6)
39. HOW ACCOUNTANTS CAN REDUCE LIABILITY EXPOSURE
is a 1-day seminar (8 credits) led by Mark Cheffers, CPA / ABV. Mark is the founder of Accounting Malpractice.com, a seven year old resource that helps accountants avoid liability. Mark has consulted on numerous professional malpractice and D&O cases. Topics include understanding the foundations of an accountant’s liability; common misunderstandings about liability protection; cases and discussions about actual failures; liability arising from consulting, tax, and non accounting areas of a practice; drafting effective engagement letters; the impact of the Sarbanes-Oxley Act on your practice; detecting client fraud, theft, and other illegal acts; protecting client confidentiality; withdrawing from problem engagements; fee collection; file retention; liability exposure to third parties; reporting actual and potential claims to your insurance company; a discussion of actual cases and real life questions asked in depositions and cases; and much more. If you attend this seminar, you may be able to obtain a reduction in your malpractice insurance premium each year for 3 consecutive years. Please consult with your malpractice insurance agent to see if this seminar qualifies for a reduction in premium. (6/23)