This course reviews accounting standards issued by the Government Accounting Standards Board (GASB) that have been recently issued as well as those that will be effective in the near future. In addition to reviewing the standards, we will also focus on implementation strategies and challenges. Finally, we will turn our attention to the future by discussing GASB’s current projects and exposure drafts.

This course will look at the recent activities of FASB as well as the Auditing Standards Board and Accounting and Review Services Committee of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way. We’ll discuss the Audit Quality Initiative of the AICPA and take a look at some common audit issues.

Key focus areas include:

• Recent accounting standard updates (ASUs)
• Revenue recognition
• Leases
• Financial instruments
• SAS 133
• SSARS 24
• AICPA Auditor’s Report
• Enhancing audit quality initiative

Governmental accounting is very unique. In this course, we will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We’ll discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government wide financial statements. The class will also cover the concept of component units. Finally, we close with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.

Taxpayers are ultimately responsible for their own returns, but return preparers are subject to ethical standards that make them responsible for what is in the return, what is not in the return and how that information is presented. For example, return preparers are expected to inform clients about errors discovered and the consequences of ignoring them. The preparer must evaluate the reliability of information furnished by the taxpayer.

Want to protect against unnecessary liability? Avoid the headache of big mistakes discovered in IRS audits? A quality tax practice begins with respect for the Standards.” 

PROGRAM CONTENT:
Treasury Circular 230
AICPA Statements on Standards for Tax Services
Internal Revenue Code Preparer Penalty Provisions

This course covers the laws, rules, and regulations that apply to the licensure of accountants in the State of South Carolina, as well as those that apply to the practice of accounting in the State of South Carolina. This course is designed to meet the South Carolina Board of Accountancy regulation that requires two hours of CPE related to South Carolina Rules and Regulations.

In this free two-hour livestream workshop, the SCDOR along with the IRS and the SC Department of Employment and Workforce (DEW) will present information to help you better understand your business obligations as they relate to Withholding Taxes. If you are a small business owner, bookkeeper, payroll clerk, new Withholding Tax registrant, employ seasonal workers or are a tax professional, this workshop is for you.
Additional topics covered will include:
• Federal tax law issues (taught by IRS representative)
• Unemployment insurance—liability and reporting requirements (taught by an SCDEW representative) 
• Basics of the SC Withholding Tax Law
• How to register for the Withholding Tax
• When to file and pay Withholding Taxes
• Electronic filing methods

This course runs from 9-11 a.m.

A federal income tax update focused primarily on income tax reporting and calculation issues for preparation of 2019 returns. Topics are selected for their likely interest to CPAs who are responsible for assisting clients with preparing returns to report complex Federal income tax matters and to determine income tax liabilities of business enterprises and their owners.

Program Includes:
• Tax compliance rules…do’s and don’t’s
• TCJA 2017 Guidance…Regulations, Revenue rulings, Notices, and Revenue Procedures
   o New Forms
   o Required supplemental information
   o Simplified employee reporting of certain benefits
   o Published IRS Guidance in FAQs, IRS’s own training materials and checklists
• Court decisions affecting Federal income tax compliance for all taxpayers
   o Quick review of worker classification
   o Employer provided meals and other fringe benefits
   o Recordkeeping requirements

This program focuses and actions businesses can take, even at the “last minute” to reduce taxable income or take advantage of a tax credit.

Program Includes:
• Publication 4557 – protecting client data from identity theft
   o IRS Practice Unite – “Five Signs of Small Business Identity Theft, New Protection Methods”
• New Form 3115 and instructions for accounting method changes
• Court decisions affecting ordinary taxpayers with common issues
• Inflation adjusted amounts of various deductions and tax credits
• IRS Practice Units (Training programs created by IRS for RS agents)
   o “Basic Tools for Tax Professionals”
   o “Link & Learn Taxes”
   o “About” specific forms – 706, 709, 990, etc.

This training course is designed to walkthrough the process for performing audits under the Uniform Guidance.  We'll cover the major deficiencies identified by the AICPA and discuss how to properly perform procedures to be compliant. High level areas of training include the documentation, sampling, reporting under Uniform Guidance, risk Assessment under Uniform Guidance, Internal Controls Over Compliance and Compliance Testing.
 

 

The Yellow Book is getting an update. This course will cover the major changes auditors need to know when performing audits under GAGAS (aka Yellow Book or Government Auditing Standards). Areas of focus will include the updated independence requirements, form and organization of the guidance as well as quality control. The 2018 revision is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted. We'll also cover common deficiencies in Yellow Book engagements. 

The auditor’s report is getting a facelift. Following both the IAASB and PCAOB, the AICPA undertook a massive project to update the new report. SAS 134, Auditor Reporting and Amendments?Addressing Disclosures in the Audit of Financial Statements, was issued in April 2019. We’ll cover the new order of the report, changes to presentation as well as introduce the concept of KAM. We’ll cover when KAM is required as well as what constitutes KAM. This course is a must for auditors. The new report is effective for periods ending on or after December 15, 2020. Early implementation is NOT permitted.

This course covers the laws, rules, and regulations that apply to the licensure of accountants in the State of South Carolina, as well as those that apply to the practice of accounting in the State of South Carolina. This course is designed to meet the South Carolina Board of Accountancy regulation that requires two hours of CPE related to South Carolina Rules and Regulations.

This course will cover the hot topics of 2019. We’ll look at the new auditors report issued by the AICPA. We’ll cover implementation issues with revenue recognition and leases. We’ll also look at risk assessment common deficiencies. This course will cover what the standard setters are prioritizing. 

The AICPA has identified that one in ten audit firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risk under AU-C 315. We’ll then discuss how to respond to identify risks under AU-C 330. The course will focus on the audit risk model and focus on both inherent risk and internal controls.

In the accounting profession, dealing with data is life. Doing it efficiently and effectively are skill differentiators. Power Query, part of Microsoft Power BI suite, is indispensable for extracting, transforming and loading data (the “ETL” of the commonly referred to ETLR). In this session, we will explore the basics of the Power Query add-in - extracting, transforming and preparing data for analysis

Your tax files contain all the information an “evildoer” would need to steal your client’s identity and wreak havoc in the client’s life. IRS Publication 4557 explains that you are expected to preserve and protect the confidentiality and privacy of that data but does not tell you how to use available tools to organize data collection and preservation. In this program, cyber-security expert Chris Jenkins walks you through security risks, the systems you need, and the procedures necessary to protect your clients’ data.

Microsoft Excel offers a wide range of solutions for your common data input requirements, and now tech guru and SCACPA CEO Chris Jenkins gives you the keys in this very applicable course.
Become familiar with these powerful features:

• Auto Fill (a command smart enough to figure out almost any series of data you want to continue)
• Quick Analysis (adds graphical elements to better describe your data)
• Flash Fill (allows you to take two adjoining cells and combine them in a third)
• Text to Columns (used to split data into multiple columns)

This is a must-attend for anyone looking to excel in Excel!

A federal income tax update focused primarily on income tax reporting and calculation issues for preparation of 2019 returns. Topics are selected for their likely interest to CPAs who are responsible for assisting clients with preparing returns to report complex Federal income tax matters and to determine income tax liabilities of business enterprises and their owners.

Program Includes:
• Tax compliance rules…do’s and don’t’s
• TCJA 2017 Guidance…Regulations, Revenue rulings, Notices, and Revenue Procedures
   o New Forms
   o Required supplemental information
   o Simplified employee reporting of certain benefits
   o Published IRS Guidance in FAQs, IRS’s own training materials and checklists
• Court decisions affecting Federal income tax compliance for all taxpayers
   o Quick review of worker classification   
   o Employer provided meals and other fringe benefits
   o Recordkeeping requirements

Cases, Rulings, Regulations, FAQs … it’s been a busy year for those who have responsibility for advising clients on tax matters and assuring proper preparation of tax returns.  Fallout from the TCJA of 2017 continues to raise questions and create opportunities to help clients reduce their Federal income tax burden.

Program Includes:
• Code Section 163(j) – Business interest limitation
• Code Section 168(k) – Qualified Improvement Property and any late changes to allow 15-year life
• Code Section 179 – Election to expense certain depreciable assets
• Code Section 199A – Qualified business income
• Code Section 461(l) – Excess business losses of non-corporate taxpayers
• Income tax regulations issued to implement portions of the TCJA of 2017
• Revenue Rulings, Notices, Revenue Procedures providing compliance guidance for new tax law
• Changes to Kiddie Tax
• Limits on itemized deductions

This powerful and comprehensive course will enable you to be in compliance with all professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs). It is a go-to reference for training staff and managing your preparation, compilation and review engagements.
This practice-oriented review of the latest developments and cases will be informative and practical thanks to lively discussion among the experienced participants.
This resource provides hard copies of all sample engagement letters, procedure checklists, illustrative reports and more contained in The Essential SSARS No. 21-23 Implementation Toolkit to assist you with implementing new SSARS requirements.

This course will look at the recent activities of FASB as well as the Auditing Standards Board and Accounting and Review Services Committee of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way. We’ll discuss the Audit Quality Initiative of the AICPA and take a look at some common audit issues.

Key focus areas include:

• Recent accounting standard updates (ASUs)
• Revenue recognition
• Leases
• Financial instruments
• SAS 133
• SSARS 24
• AICPA Auditor’s Report
• Enhancing audit quality initiative

Governmental accounting is very unique. In this course, we will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We’ll discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government wide financial statements. The class will also cover the concept of component units. Finally, we close with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.

The Government Accounting Standards Board (GASB) has been very busy lately. This course will review the accounting standards newly issued by GASB, including Leases, OPEB and Fiduciary Activities. We will focus on the implementation of standards that will be effective in the near future. We’ll also discuss GASB’s current projects and exposure drafts so you better understand what’s coming down the road. We will close with a look at the major changes in Single Audit and Yellow Book impacting governmental accountants and auditors.

This course reviews accounting standards issued by the Government Accounting Standards Board (GASB) that have been recently issued as well as those that will be effective in the near future. In addition to reviewing the standards, we will also focus on implementation strategies and challenges. Finally, we will turn our attention to the future by discussing GASB’s current projects and exposure drafts.

This training course is designed to walkthrough the process for performing audits under the Uniform Guidance.  We'll cover the major deficiencies identified by the AICPA and discuss how to properly perform procedures to be compliant. High level areas of training include the documentation, sampling, reporting under Uniform Guidance, risk Assessment under Uniform Guidance, Internal Controls Over Compliance and Compliance Testing.
 

This course will look at the recent activities of FASB as well as the Auditing Standards Board and Accounting and Review Services Committee of the AICPA. We’ll look at the impact of the new standards and how you can prepare to implement them in a practical way. We’ll discuss the Audit Quality Initiative of the AICPA and take a look at some common audit issues.

Key focus areas include:

• Recent accounting standard updates (ASUs)
• Revenue recognition
• Leases
• Financial instruments
• SAS 133
• SSARS 24
• AICPA Auditor’s Report
• Enhancing audit quality initiative

The Government Accounting Standards Board (GASB) has been very busy lately. This course will review the accounting standards newly issued by GASB, including leases, OPEB and fiduciary activities. We will focus on the implementation of standards that will be effective in the near future. We’ll also discuss GASB’s current projects and exposure drafts so you better understand what’s coming down the road. We will close with a look at the major changes in Single Audit and Yellow Book impacting governmental accountants and auditors.

Discussion LeaderRosalyn Glenn, CPA

Do you ever get blank looks when you present your company's financial statements? Does your board nod knowingly, during your presentation, but never seem to have any meaningful questions? It could be that they have no idea what you are talking about and are just pretending to understand! Learn how to connect with your CEO, board, fellow managers, and ordinary employees so they understand your message. Learn to motivate them to action. Come hear a veteran CFO tell you how.

Why wait for your company's defenses to be breached?

Tackling Fraud Within the Workplace
Fraud consumes an estimated 5% of corporate revenue and every business--regardless of size--is a potential target for fraud. This workshop will explore the “why” and “how” behind the fraudulent activities occurring in the workplace. Oftentimes, dishonest employees target weaknesses in the company’s systems, or shrewd third parties use “social engineering” tactics to breach a company’s defenses. Proper fraud awareness training is crucial to a company’s well-being and culture. All levels inside a company, from employees to company owners, should have a basic knowledge and understanding of how these fraud schemes work and how to recognize the warning signs. The workshop will examine the schemes, the motives, the opportunities, the problems and the risks. We will also set the framework for evaluating matters from an ethical lens instead of only applying a business or personal lens. 

Versatility is required for finance professionals to lead successful organizations. They must be aware of the latest proven financial skills to make the best decisions.

This course covers the fundamentals a Controller/CFO must know to best work with banks, insurers and bonding companies. Participants will learn how to work with management and use technology to improve accuracy and efficiencies.

Unlike technologies we use every day, many of the currently emerging technologies have the potential to change how we work in the future. This session will cover an assortment of technologies which are nearing mainstream adoption and help you understand what they do, how they work, as well as some of the potential risks and rewards they offer potential users.

Your tax files contain all the information an “evildoer” would need to steal your client’s identity and wreak havoc in the client’s life. IRS Publication 4557 explains that you are expected to preserve and protect the confidentiality and privacy of that data but does not tell you how to use available tools to organize data collection and preservation. In this program, cyber-security expert Chris Jenkins walks you through security risks, the systems you need, and the procedures necessary to protect your clients’ data.

Microsoft Excel offers a wide range of solutions for your common data input requirements, and now tech guru and SCACPA CEO Chris Jenkins gives you the keys in this very applicable course.
Become familiar with these powerful features:

• Auto Fill (a command smart enough to figure out almost any series of data you want to continue)
• Quick Analysis (adds graphical elements to better describe your data)
• Flash Fill (allows you to take two adjoining cells and combine them in a third)
• Text to Columns (used to split data into multiple columns)

This is a must-attend for anyone looking to excel in Excel!

This course is designed for accounting professionals as non-accounting construction industry professionals who want or need a better understanding of construction accounting processes, construction cost management systems, job costs and job cost reporting, the WIP, and the most important elements of a contractor's financial statements.