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2024 Financial Accounting for Related Party Transactions

Monday, November 25
 1:00pm - 2:57pm

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2.00 Credits

Member Price $79.00

Non-Member Price $109.00

Overview

Loans, rental agreements, business combinations – what do these all have in common? They all have the potential of creating a related party transaction.  This program presents a detailed analysis of the financial accounting rules for transactions with related parties, as well as compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities.

Objectives

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

Highlights

  • FASB codification provisions for transactions with related parties, including business owners and special purpose entities
  • Compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities
  • Reviews the tax accounting related taxpayer standards
  • Several real-life situations illustrate the various authoritative standards and discuss the consequences of failing to comply with those standards

Designed For

CPAs working in public accounting firms and members in industry

Prerequisites

Basic working knowledge of financial statement reporting

Preparation

None

Notice

Your webinar can be accessed via https://ctcpas.acpen.com/Account/loginhttps://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.

Leader(s):

Leader Bios

Steven Dilley, Federal Tax Workshops

Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics.

In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He received the 2005 "Distinguished Achievement in Accounting Education Award" in Michigan. He also received the 2007 "MSU Accounting and Information Systems Department Outstanding Teacher Award."

He obtained his Ph.D. in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.

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Non-Member Price $109.00

Member Price $79.00