Professional Development and Event Catalog

This session will help you understand recent ASUs issued by the FASB, what proposed standards are forthcoming and other issues on the FASB’s technical agenda.  It will also provide an update on recent private company standard-setting activities.

Join Mike Cheng for a plain English discussion on the lessons learned from implementing ASC 842 (Leases) as a Lessee. Discover the common pitfalls when it comes to lease accounting and gain valuable insights on how to navigate the challenges of ASC 842. This session will provide practical advice and real-world examples to help you understand lease accounting.

This session will provide an overview of the new AICPA Quality Management Standards, highlight the key changes, present resources, and discuss implementation challenges and issues to address. Consider the timeline for implementation and the impact on peer review.

Learn how to prepare your organization to undergo a compliance audit. This session will cover how to identify funding sources, common compliance requirements, and tips for how to organize your records throughout the year to be audit-ready.

This session highlights common audit deficiencies and best practices, including a deep dive into audit risk assessment and the new requirements under SAS 145.

In this session, we aim to provide clarity and guidance on Form 990 nuances and other vital tax considerations for tax-exempt organizations. We will delve into the complexities of unrelated business income (UBI), which can have a profound effect on an organization's tax liability. Our discussion will also cover available tax credits an item previously unavailable to many organizations.  Moreover, we'll address pertinent legal and IRS matters currently affecting tax-exempt entities, including the status of the Employee Retention Tax Credit (ERTC) and DAF regulations. Our goal is to empower your organization with up-to-date knowledge to navigate these issues effectively and maintain your commitment to compliance and best practice.

Details on what each organization will discuss are included below: The Alliance: • The 2024 General Assembly session’s results for nonprofits• An overview of the state of nonprofits in CT• A preview of what nonprofits may be looking for in 2025 Hartford Foundation for Public Giving: Elysa will discuss what a community foundation is (and is not); what Hartford Foundation for Public Giving offer nonprofits beyond the grant, specifically capacity building grantmaking and resources; and collaborative efforts to move nonprofits forward.   Connecticut Council for Philanthropy: Karla will provide a snapshot of the Connecticut’s philanthropic landscape - who gives, what they support, and trends in the sector. She’ll also talk discuss how Connecticut funders organize, and how the Connecticut Council for Philanthropy provides a platform to support collaboration and collective action among philanthropic organizations.

This session will bring you up-to-speed on important matters related to common errors and documentation on state and federal single audits.

The FASB’s lead staff person for NFPs will guide you through developments in GAAP that affect the NFP sector.  We’ll discuss new ASUs, implementation matters on recent standards, other current financial reporting issues, and noteworthy current FASB projects.

Many small companies have struggled to recognize the applicability of the new Current Expected Credit Loss (CECL) standard to their financial statements.  This session will discuss the standard and how it is more encompassing than many entities believe.  The standard was implemented in 2023 and is expected to get careful review by peer reviewers.  The focus of the program will be on held-to-maturity investments, accounts receivable, and net investments in leases.

This presentation will provide practical tips and strategies for nonprofit organizations to improve their cybersecurity defenses and practices. The goal of the presentation is to help nonprofit organizations protect their data and systems from cyberattacks and minimize the risk of data breaches. We will also provide an overview of the current cybersecurity landscape and the risks that nonprofits face. The presentation will be interactive and will include real-world examples and case studies to help participants understand the importance of cybersecurity and how to implement effective cybersecurity strategies.

Small businesses have always gravitated toward preparing financial statements using non-GAAP special purpose frameworks.  This session will focus on the applicability of the frameworks and the need for them to be acceptable under all current standards.  The session will pay particular attention to tax basis, FRF for SMEs, and contractual financial statements.  It will include a discussion on when each method would be preferable and AICPA guidance on the frameworks.

This session will review the CPA’s approach to preparation, compilation, and review engagements under SSARS 21-25.  It will also address the new responsibilities under SSARS 26 and findings in peer reviews.  There will be a special focus on the need to properly classify the engagement, engagement letters, and the applicability of SSARS standards.

For more than 40 years, Don Farmer Tax Education has built a stellar reputation as the go-to national authority on federal, corporate and individual income tax, known for delivering engaging taxation seminars on pressing tax matters. In addition to 8-hour seminars, Don Farmer Tax Education produces a monthly federal tax enewsletter packed with insights, tips and timely reminders delivered straight to your inbox. Subscribe today! Subscription information — The annual newsletter subscription is just $180 per year. Click here to see the February 2024 edition for a preview of what you can expect to receive each month. For more information about Don Farmer Tax Education, visit donfarmercpa.com.  

Both businesses and individual clients face major changes as a result of tax reform, and tax professionals face the considerable challenge of delivering effective planning advice and services to address this myriad of recent developments. This course addresses this challenge and also encompasses the latest tax legislation applicable to individual and business clients. Continually updated to reflect enacted legislation.

This course is designed to assist practitioners in preparing Offers in Compromise (OIC). After this course, you should have an understanding of how proper planning can make a significant difference in the amount eventually paid to the IRS and the resulting financial well-being of your client. This program covers the basics, from choosing the proper forms to utilize through the filing of an appeal if necessary. We will also explain how to increase your chances of having your OIC approved by the IRS by going over the complexities involved.

If you work with governments and not-for-profits, a thorough understanding of the Yellow Book is essential. This course will equip you with a comprehensive knowledge of the Yellow Book requirements and increase your confidence and proficiency in performing Yellow Book audits. The course materials utilize a highly illustrative and innovative format including over 20 focused exercises on key practice issues.

If you work with governments and not-for-profits, a thorough understanding of the Yellow Book is essential. This course will equip you with a comprehensive knowledge of the Yellow Book requirements and increase your confidence and proficiency in performing Yellow Book audits. The course materials utilize a highly illustrative and innovative format including over 20 focused exercises on key practice issues.

When exit planning, it is important to weigh various issues, including tax implications, to achieve an effective management and/or ownership change. Many envision tax-free reorganizations being the most preferable structure to avoid capital gains tax, but the opportunities come at a cost to the seller. This course will provide a well-rounded discussion of the various strategies to consider when advising on exiting a business.

Many small- and mid-size entities hold fewer complex investments including alternative investments. This module will provide an overview for evaluating the proper recognition, measurement, and disclosure of common investment types as well as how to audit them. Derivatives and other more complex investments will be discussed in another module. (Please Note: This module is part of Surgent's Audit Skills Training: Level 2.)