CPE Catalog & Events

This is the second in a four-part series. One of the basic rules in fiduciary taxation is that the person or entity that receives the taxable income from the trust or estate is taxed on that income. The calculation of Distributable Net Income (DNI) and the Distribution Deduction determine the allocation of the tax burden between the fiduciary entity and the beneficiary. Therefore, when distributions are made that "carry out" DNI, the fiduciary entity operates as a conduit and the beneficiaries are taxed on the amounts reflected on the Schedule K-1. The fiduciary entity receives a corresponding distribution deduction. When taxable income is accumulated by the entity, the fiduciary pays the tax. We will explore the various distributions made to beneficiaries and their impact on the entity's taxation. Be sure to register for all courses in this series: Form 1041 Advanced Series Part 1: Why Complex Trusts are Complicated Form 1041 Advanced Series Part 2: Cash & Property Distribution Issues Form 1041 Advanced Series Part 3: Sec. 199. Sec. 67(g) & Charitable Deductions Form 1041 Advanced Series Part 4: Post Mortem Considerations

This four-part series covers the fundamentals of Form 706. In this final course, we will cover GST allocations on Schedule R, Foreign Death Tax credit, Prior Transfer credit, Qualified Conservation Easements, making the 6166 election for estate tax payment and considering a Graegin or other loan to pay the estate tax. Illustrations of attachments and/or narrative examples for Schedule R will be provided. Form 706 Series: Part 1: Overview Including Portability Part 2: Reporting Assets Part 3: Reporting Deductions Part 4: GST Schedule R, Form 8971, Payments & Credits

Google Gemini has emerged as a top leader in the generative AI competition. Due to the extraordinary size of the Google user base, every CPA should have a basic understanding of how to use it and apply it in business. This course will provide a comprehensive review and demonstration of how to put Google Gemini AI to work for you and your clients. It is designed as a "hands-on" course that facilitates following along with the presenter to apply the features of Gemini on your computer. Practice files will be provided so that you don't have to expose your confidential data. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

This webinar presents a variety of time-saving ideas, shortcuts, and tips that are sure to boost personal productivity. We discuss better summing, address one of the biggest pitfalls that Excel users have faced over the past 25 years, present the most important keyboard shortcuts, demonstrate a better alternative to hiding rows or columns, illustrate how to quickly navigate to other workbooks and files, and demonstrate using Excel with styles.

When a purchaser buys an existing partner's partnership interest or the interest of a member of a limited liability corporation (LLC) taxed as a partnership, the amount paid becomes the basis for the purchaser's partnership interest (outside basis). If the partnership's assets have appreciated sufficiently, the difference between the new partner's inside and outside basis can be substantial. This disparity can deprive the new partner of depreciation deductions and inflate his or her share of the gain from subsequent property dispositions unless a Section 754 election is in effect. The Section 754 election can also apply when a partnership makes a distribution of property and the basis of the distributed property to the partnership and the basis the partner/distributee will take in the distributed property are not equal. In this case, a partnership can recover basis it would otherwise lose if the 754 election were not in effect.

Breaking the Wall of blind acceptance; avoiding habitual complacency and Yoking the dots between cause and effect.

Step into the future of accounting and finance with our cutting-edge course on Artificial Intelligence (AI). Designed to demystify AI and transform it from a theoretical concept into a practical tool, this course will equip you with the skills to tackle modern challenges head-on. Whether you're looking to boost productivity, enhance accuracy, or streamline operations, our course has you covered. Discover the incredible problem-solving capabilities of AI, tailored specifically for accounting and financial professionals. Learn how to leverage AI features integrated into everyday applications like Excel to detect fraud, identify transaction errors, and elevate your financial operations. Witness firsthand how AI is revolutionizing the industry and positioning you at the forefront of this technological wave. Join us and unlock the full potential of AI to transform your workflow and drive success. Don't miss out on this opportunity to stay ahead of the curve and lead the way in the future of accounting and finance!

With over 50% of marriages ending in divorce, forensic accountants are frequently used in uncovering hidden income and assets. It is not uncommon for one spouse to hide money from another, sometimes for nefarious reasons. As a CPA, your services are valued by high-net-worth individuals who hire attorneys in their divorce proceedings. In this course, you will learn the art of financial investigations and how to uncover the truth in divorce cases, whether from offshore accounts to lifestyle analysis. Step by step, the course will teach you the valuable skills necessary in finding, analyzing, evaluating, and presenting your findings to your client and if needed, ultimately in divorce court. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

As financial leaders, CPAs are often tasked with managing organizational risk. In this respect, the supplier relationship can be a tricky one. It is often one of the more familiar and comfortable business relationships we have, yet it may also be the one that presents the most significant risk to our company. In this course, we will explore how to manage the supplier relationship from onboarding to termination. Through case studies and best practices, we will discuss how to continue being a good partner to our suppliers while also understanding where potential risks exist. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

*** This is not a Florida-Approved Ethics Course***Explore the ethical implications of using generative AI. This course addresses potential risks and dilemmas, providing guidelines to ensure responsible and compliant integration. Learn how to balance innovation with ethical obligations to maintain trust and integrity. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Providing a practical overview of the IRS Power of Attorney, Form 2848, and IRS Tax Information Authorization, Form 8821. Participants will explore the differences between these forms, understand when each is required, and how to comply with IRS requirements for representing clients and accessing their tax information. The course will cover practical issues, ethical considerations, and best practices for managing client authorizations through the IRS Centralized Authorization File (CAF) system. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

This session reviews the three elements of fraud, how fraudsters think, how proper internal controls can prevent and detect fraud, and the red flags to look for to identify fraud. It looks at Radar O'Reilly, one of the most beloved characters of the TV show M*A*S*H. He was trusted by his boss to run the administrative side of the US Army medical unit. Were there red flags all around Radar? Did he have the opportunity to steal? Was he a fraudster? We'll find out? Attendees learn to recognize the traits of this type fraudster that are present in many organization. Case studies of various Radars are included.

Properly identifying performance obligations is a critical step in the five-step revenue recognition model. It is a step that must be completed at the inception of the contract and prior to moving on to step three of the model. As discussed in segment one on performance obligations, there are many types and variations of obligations and as such, management will be required to utilize significant judgment when applying this step. However,  it is important that the judgment be supported by considerations of the proper factors. The course further evaluates areas that impact performance obligations. We utilize multiple examples from various industries to illustrate the considerations that must be evaluated in line with both identifying performance obligations and allocating the transaction price appropriately.    

It's been 20 years and counting since the Sarbanes-Oxley legislation was passed. In theory the legislative requirements outlined are still in place. Although the requirements haven't changed, time has changed and as a result, execution of the processes has most likely changed.

This course examines the critical issues and special opportunities facing partnerships and their partners, with a focus on reporting tax basis capital accounts.   *Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to terri.storer@acpen.com    

CFOs are increasingly accountable for the effectiveness of information systems, even if IT does not formally report to them. This session focuses on the tactical role finance leaders play in evaluating, selecting, implementing, and managing information systems. Participants will gain a practical framework for understanding IT, ERP systems, security, and emerging technologies such as AI. The session emphasizes asking the right questions, aligning systems with strategy, and avoiding common pitfalls that cause system implementations to fail.

Accounting is a man-made science, built on principles that require a consistent framework to ensure comparability and reliability in practice. This course introduces participants to the FASB Conceptual Framework, which serves not only as the foundation for developing accounting standards but also as a guide for applying sound judgment in practice. Jeff Sailor will cover the key elements of the framework, focusing on recognition, measurement, qualitative characteristics, and disclosure requirements. The course will draw on all eight chapters of Statement of Financial Accounting Concepts (Concept 8), bringing clarity to how the framework supports financial reporting. Jeff’s signature video parodies will also be featured, offering memorable reinforcement of the material. 

Stay current on key developments affecting audit and attestation engagements with this comprehensive update on what's happening at the AICPA. This course begins with the next phase of quality management, with a particular focus on firms' monitoring and remediation responsibilities and what those requirements mean in practice. Participants will also review recent and upcoming standards impacting audit, attestation, and consulting engagements, including SSAE No. 24 and SSARS No. 26, along with high-impact exposure drafts related to confirmations and fraud. The course concludes with an overview of SAS No. 149 and its implications for group audits. Designed as a timely update for practitioners, this course helps participants understand how recent and proposed changes may affect engagement planning, execution, and compliance in the years ahead.  

One of the most difficult things for any Client Advisory Services (CAS) professional to learn is how to communicate financial information to non-financial people. To be successful, it's crucial to master this skill, as we frequently explain accounting jargon to those unfamiliar with the field. In this course, we will explore how to properly communicate with stakeholders, including investors, clients, boards of directors, and even other departments. We will explore biases that people have when viewing financial information and even how to make sure we keep our message on point. If you are looking to move up in the financial services world, this course is a must for you.

This course explores the data analytics aspects of AI in accounting. Participants will develop skills in leveraging AI tools for enhanced data analytics.