Financial & Tax Accounting for Partnerships & LLCs

8:30 am–12:15 pm ET

# of CPE Credits



This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities. It includes 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.


* Apply financial accounting in the partnership setting with special emphasis on accounting for capital accounts.


* Review of the Accounting Standards Codification and its application to partnerships and LLCs * Review of the OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs * 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 * Completion of the Form 1065 Schedule M-1 * Financial accounting for the operations of a partnership/LLC * Partnerships/LLCs as part of other entities * Financial and tax accounting for PPP loan forgiveness.

Who Should Attend

CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current.

Required Knowledge

Basic working knowledge of financial accounting.

Advanced Prep


Event Speaker(s)

Mr. Steven C. Dilley, CPA, JD, Ph.D. ( Federal Tax Workshops, East Lansing, MI ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected] .

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via email 30 minutes prior to the start of a live online program.

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Also Available As

Tuesday, August 23, 2022 (8:30 am–12:15 pm ET)
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Thursday, September 1, 2022 (8:30 am–12:15 pm ET)
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Friday, October 7, 2022 (8:30 am–12:15 pm ET)
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Level: Intermediate

Event Code:WB022122

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$145.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants 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/.

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