Financial Accounting for Related Party Transactions

Overview

Description:

This course explores the FASB codification provisions and AICPA financial reporting framework for transaction with related parties, including business owners and special purpose entities. Real-life examples are used to illustrate the various authoritative standards and discuss the consequences of failing to comply.

Learning Objectives:
After attending this presentation you will be able to...

Apply the financial accounting rules for related parties and how they impact accounting transactions

Program Content:

The major topics covered in this class include:

FASB codification provisions for transactions with related parties, including business owners and special purpose entities.
Compare and contrast those rules with the AICPA financial reporting framework for small and medium-sized entities.
Review the tax accounting related taxpayer standards.
Real-life examples applying the various authoritative standards. Consequences of failing to comply with the standards.

Who should attend: CPAs working in public accounting firms and members in industry.

Developed By: Federal Tax Workshops, Inc

Instructor: Steven C. Dilley, CPA, JD, PhD

CPE Credit: 2.0

Field of Study: Accounting (2 CPE)

Prerequisites: Basic working knowledge of transactional financial reporting.

Advanced Preparation: None

Format: QAS Self Study

Highlights

FASB codification provisions for transactions with related parties, including business owners and special purpose entities.
Compare and contrast those rules with the AICPA financial reporting framework for small and medium-sized entities.
Review the tax accounting related taxpayer standards.
Real-life examples applying the various authoritative standards. Consequences of failing to comply with the standards.

Prerequisites

Basic working knowledge of transactional financial reporting.

Designed For

CPAs working in public accounting firms and members in industry.

Objectives

Apply the financial accounting rules for related parties and how they impact accounting transactions