CPE Catalog & Events

Surgent's Fraud Basics: Protecting the Company Till

The price of fraud – ACFE’s Report to the Nations and ancillary costs The current economy – microeconomics and analysis COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments) Power of morale – shrinking the fraud triangle and employee motivation Why good folks go bad – interesting findings and red flags

Surgent's Mastering the Basics of Inventory Accounting

Elements of inventory cost and full-absorption costing Valuation methodologies, including LIFO, FIFO, weighted average, and specific identification Obsolescence reserves LIFO accounting Differences between book and tax cost capitalization and related income tax accounting Retail inventory valuation methodology Physical inventory observation approaches Accounting issues related to consigned inventory Other challenging issues related to inventory accounting

Surgent's Annual Tax-Planning Guide for S Corporations, Partnerships, and LLCs

Wrapping up issues related to COVID-19 legislation Update on latest cases, rulings, and regulations including the final regs How to handle liabilities of LLCs Planning opportunities and pitfalls in determining basis and amounts at risk -- recourse and nonrecourse debt issues for LLCs, and much more Section 199A pass-through deduction planning Partnership planning -- Structuring partnership distributions and transfers of interests Optional basis adjustments -- §§754 and 732(d) Planning for the utilization of §179 and for the phase out of bonus depreciation Basis, distribution, redemption, and liquidation issues of S corporations Compensation in S corporations Sale of a partnership -- the best planning concepts What you need to know about family pass-throughs -- Estate planning, family income splitting, and compensation planning Partnership and LLC allocations A brief look at possible future changes to the taxation of pass-through entities

Surgent's Avoiding the Top 10 Mistakes That Can Wipe Out Retirement Savings

Coverage of applicable rules from SECURE Act 2.0 The 10% penalty Net unrealized appreciation of employer securities Roth IRA conversions Rollovers and the limitations Direct rollovers vs indirect rollovers, and tax withholding  Beneficiary portability rules When a Roth IRA distribution is qualified to be tax-free Excess contributions and the 6% excise tax

Surgent's Real Estate for Accounting and Finance Professionals

Rental income and expense calculation and reporting Deciphering Schedule E (Form 1040) Nuances of vacation home rules Passive activity loss rules: foundations and implications Active vs. material participation in rental activities Tax reporting: how to group passive activities Limitations on passive losses: at-risk rules and deductions Classifying rental real estate activities Navigating exceptions in rental real estate taxation

Surgent's Top Ten Questions from Partnership Clients Regarding the Section 754 Election

How does a partner compute his or her basis in a partnership? What is the difference between a partner’s inside and outside basis? What is the difference between a partner’s capital account and partner’s outside basis? How does Section 732(d) impact the buyer of a partnership interest? How does a partnership report a Section 754 election on the partnership’s tax return? How does a partnership make a Section 754 election? How does a partnership make a Section 743(b) adjustment? How does a partnership make a Section 734(b) adjustment? How is a Section 743(b) adjustment or Section 734(b) adjustment allocated to the assets of a partnership? How is a Section 743(b) adjustment allocated within the class of ordinary income property and capital gain property?

Streamlined Excel Reporting Series Session 1: PivotTable Fundamentals

Surgent's Lessons Learned From Recent Accounting Malpractice Actions

Common instances of accounting malpractice Current claim trends Frequent defenses to claims Statute of limitations Damages Claims by practice area

Surgent's Understanding Partnership Taxation: PTE Elections, 754 Elections, and Selling a Partnership Interest

Notice 2020-75: PTE elections What is a 754 election? What if a 754 election is not in effect? Tax implications of a partnership interest sale on the seller Look-through provisions

Auditing Financial Statements of ERISA Plans

Auditing the statement of net assets available for benefits Types and classification of common plan investments Plan investment audit procedures based upon type of audit and risk assessment Auditing the statement of changes in net assets available for benefits Audit procedures at the participant level required for investment gains (or losses), contributions, and benefit payments or withdrawals Presentation and disclosure requirements in accordance with GAAP

Surgent's Introduction to Forensic Accounting

Review of the different aspects of forensic accounting The civil litigation process as it relates to forensic accounting Litigation services provided by forensic accountants Fraud detection and prevention Various types of fraud Training and certifications in forensic accounting Forensic accounting in bankruptcy proceedings Forensic accounting in family law proceedings Calculating damages for use in litigation Valuations Ethical issues pertinent to forensic accounting

Streamlined Excel Reporting Series Session 2: Working with PivotTables

Surgent's Annual Accounting and Auditing Update

Recently issued FASB Accounting Standards Updates, PCC Update and items on the FASB’s Technical Agenda Leases – Topic 842 ASC 326: CECL Review of SAS 142 – Focus on Audit Evidence Recently issued SASs and other AICPA activity SSARS No. 25 and other recently issued SSARS Detailed review of SAS 145 Other important A&A practice matters

Audits of Employee Benefit Plans Subject to ERISA

ERISA reporting requirements Audit planning and pre-engagement activities Risk assessment, including consideration of internal control Auditing considerations, including prohibited transactions and tax compliance The auditor's report Financial statement disclosures Supplemental schedules

Surgent's The CMA's Guide to Project Management

Establishing a system: identifying forces that support the status quo; setting milestones and goals; the role of the CMA Necessary first steps: set a framework for the project’s activities; identify needed resources; obtain support; decide on a structure; establish a team for a specific project; identify necessary team skill sets Project evaluation: analytical tools, strategic evaluation; sources of risk Maintaining focus: monitoring and measuring results; keeping to the project’s scope Avoiding frequent traps: sunk costs; financing pitfalls; project creep; tunnel vision; failure to integrate the team’s work internally and/or the final project with the remaining organization Introduction and examples of analytical tools throughout the session: mapping; CPM; Gantt charts; benchmarking; Pareto analysis; PESTLE analysis; valuation techniques; post-completion evaluations

Surgent's Annual Update for Defined Contribution Plans

Common risks and pitfalls associated with defined contribution plans Nuances of the fair value disclosures New reporting and disclosure requirements for the current year Results of DOL Audit Quality Study

Surgent's What Tax Practitioners Need to Know About Medicare

Eligibility for Medicare How to apply for  Medicare Introduction to Parts A, B, C, and D of Medicare Payments for Parts B and D of Medicare: the higher costs imposed on higher income beneficiaries Late enrollment penalties Medicare Advantage in lieu of original Medicare The Affordable Care Act’s impact on Medicare Legislative and regulatory developments

Surgent's Critical Issues Involving Taxation of Construction Contractors

The impact of recent legislation on the construction industry How to qualify for the “small contractor exemption” and its advantages to the taxpayer Options available to the “small” contractor regarding taxation of long-term contracts How the choice of entity impacts taxation of contractors How AMT impacts the construction industry IRC §460 and “large” contractors How “uninstalled materials” impact taxation of contractors How the “look-back” rules impact contractors How the “10 percent method” can allow certain contractors to defer recognizing taxable income Critical tax planning strategies for contractors

Streamlined Excel Reporting Series Session 3: PivotTable Wrap-Up and Web Data

Surgent's Representing a Client in an IRS Audit

Substantially increased IRS funding provided by the Inflation Reduction Act IRS test program in 2024 to determine if it should prepare tax returns Using improved data and analytics to tailor timely collections contacts Auditing large corporations and partnerships Audits of high income and high net worth individuals Information Document Requests What happens when a client agrees or disagrees with the IRS’s audit findings The Dirty Dozen: roadmap to IRS audit issues