Offshore financial self liquidating loan services
754 election for optional basis adjustments triggering Sec. 734 (distributions)*We will cover the following major areas: - COFAR and FAQs - Effective date, applicability and transition issues - The new changes to thresholds, what changed, what remains - Illustrative diagrams of the financial management system - New emphasis on internal controls, terms and conditions and incorporate the results of Single audits into risk analysis - Changes to time reporting - List of the cost principles categorized as allowable and unallowable *New areas in the Uniform Guidance: - Conflict-of-interest - Disclosure of criminal conduct - Computing devices treated as supplies - Revised to 5 new methods of procurement: micro-purchases, small purchase procedures, sealed bids, competitive proposals and sole source - New section on sub-recipient monitoring - Internal controls - Period of performance - Fixed amount awards and sub-awards - 10% de minimus indirect rate - Extending existing negotiated indirect rates up to 4 years - The direct cost allocation principle - The direct charging of administrative personnel to awards - Unallowable costs plus interest refunded to agencies - How to handle negotiated indirect rates with unallowable costs - A new onerous certification* Fundamentals of organization behavior -- Defining a problem, analyzing it, & planning action suited for resolving it; theories of motivation and job design; the six elements of organizational architecture * Decision making with statistics -- Gathering statistical information, interpretation, and methods of forecasting * Finance -- Risk and return; portfolio management theories; asset allocation; capital asset pricing models; financial management; all mathematics of tax leverage and tax planning; cash flow analysis * Marketing principles/concepts -- Consumer analysis, market segmentation, distribution channels, advertising/promotion, & economic break-even analysis; competitive strategies in changing markets * Capital budgeting & marginal investment analysis -- Tax-adjusted time-value analysis, IRRs, NPV, and other methods to allocate scarce resources among business investment opportunities * Production management -- Capacity, scheduling, and inventory control issues * Macroeconomic and micro-economic concepts, the impact of business cycles and the current business environment on business plans and profitability, and how to interpret vast amounts of data available to make business decisions*Federal and California statutory and regulatory standards governing tax preparers: Preparer penalty provisions, Circular 230 and; AICPA Statements on Standards for Tax Services. 6035 reporting basis to the beneficiaries legislation and when the Form 8971 must be submitted.*Update on proposed and potential tax law changes from the new presidential administration and Congress *Update on major enacted tax law changes, including the status of DOL overtime rule changes, the new partnership audit rules, the PATH Act, Social Security and more *Advanced practitioner issues *Health care reform: where are we and where may we be going?
*Tax shelter and reportable transactions issues in depth. 7525 and work product privilege issues and Kovel arrangements.*Core concepts involved in the single audit *The current requirements relating to the schedule of expenditures of federal awards (i.e., the SEFA) and how the auditor provides an in relation to opinion on the SEFA *An in-depth look at the four-step major program determination process and common problems encountered in its application *Performing the compliance audit of federal awards (i.e., the auditor's responsibilities related to internal control and compliance for major programs and how the auditor utilizes the Compliance Supplement) *Auditee and auditor responsibilities related to the corrective action plan and the summary schedule of prior audit findings *The auditor's reporting responsibilities in a single audit including the critical requirements related to the schedule of findings and questioned costs *Other significant issues (e.g., key sampling considerations, passthrough entities, and program-specific audits)*Tax planning considerations resulting from recent legislation and coming developments *Recent tax changes related to the Affordable Care Act, the employer mandate, penalties and more *Medicare tax on high-income wages and self-employment income *3.8 percent net investment income tax *Tax provisions and 2016 extensions *Timing income and deductions *Alternative minimum tax issues *Sec. *Review of pertinent cases and rulings regarding exclusions, character issues, retirement plans, travel and other items affecting your individual taxpayers *Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more *Recent developments with business entities, including C corporations, S corporations, partnerships, and limited liability companies; proposed changes to family limited partnership valuations *The latest on depreciation and safe harbor expensing options, including the ,500 de minimis expense item *The latest issues related to passive activities, substantiation and any other late-breaking tax law changes CPAs can protect themselves by learning how to think about risk from a business perspective.
*Update of FASB Statements and Interpretations and review of the activities of the Private Company Council.
*Develop strategies for receiving feedback with grace and an eye for learning. *Build vulnerability and see that there is some truth every time feedback is delivered.*Tax and important nontax aspects of different entities *Organizational issues *Special problems of personal service businesses *Effects of liquidations and dissolutions *Converting an existing entity into a limited liability company*Communication in the workplace *Different personality styles -- characteristics, strengths, weaknesses and how to connect with them *Building a stronger professional network *Types of networks and influential people *Best practices when attending conferences or networking events *Tips to improve your presentation skills and become more confident speaking in front of a crowd *Financial presentation tips -- visualization, practice, energy, slide count, answering questions and more *Presenting numbers for impact and understanding -- providing context; tables, charts and other visuals; formatting best practices; knowing your audience *Success with social media -- platforms, business benefits, how to get started and what to share *Writing effectively and clearly -- how to format your words, make your point, use active voice and use proper punctuation* ERISA compliance: employee welfare plans and qualified plans * Fringe benefit issues: COBRA, Family and Medical Leave Act, and what is new in health care * Health care plans: HRAs, HSAs, and other employer-sponsored plans * Preparing for the 2015 mandate on employers and responding to the 2014 mandate on employees with respect to health care insurance * Qualified plan requirements: eligibility, coverage and vesting*Why Forecasts and Budgets are Frequently Wrong: *Behavioral finance *Improper goal setting *Games *Continuing the status quo *Traditional budgeting techniques *Incorporating Strategy into Budgets: *Improving measurement systems *Common errors *Developing strategic measurements *Strategies vs.
*Hear about the most recent developments affecting single audits, including the 2017 OMB Compliance Supplement, as well as: The latest guidance on compliance requirements and single audit reporting, Changes to the Compliance Supplement, Updates on Federal Audit Clearinghouse activities and the Data Collection Form, and Single audit quality issues (including recent peer review findings).
*Find out about key revisions proposed in the new exposure draft of Government Auditing Standards.
7216 permission statement *Initial administrative groundwork *How to identify tax return organization issues *Tips for avoiding "willful blindness" *Advanced review issues for income, adjustments, deductions and credits *How to document a review, including risk management considerations *Procedures for delinquent clients and filing past-due tax returns *First-time client issues that require extra scrutiny *Checklists and tips to identify potential Form 1040 return issues *Schedules for staff to prepare to make reviews easier, including Form 1040 basis issues *Impact of the Protecting Americans Against Tax Hikes (PATH) Act of 2015*Accounting Standards Update (ASU) No.
2014-09 -- Revenue from Contracts with Customers *The Financial Accounting Standards Board (FASB) new five-step revenue recognition model *Presentation and disclosure requirements *Recent ASUs that provide implementation guidance *Industry-specific implementation issues and guidance *Identifying performance obligations *Accounting for licenses *Customer loyalty programs *Identifying a "material right" in an option *Impact on income taxes and financial systems *Other operational issues* Performing single audits under the OMB's new Uniform Guidance for Federal Awards * Developing issues and challenges involving the Yellow Book * Key AICPA developments affecting audits of governments and nonprofits * Recent GASB activities directed towards state and local governments with an emphasis on the new OPEB standards (i.e., GASB Nos.