South Carolina Association of CPAs

(SSAA221/25) Surgent's Goodwill Impairment Testing
2025-06-30 12:00 (America/Detroit)
Event Description
This course provides an overview of goodwill impairment testing. The accounting and reporting requirements related to goodwill are prescribed by the Financial Accounting Standards Board (FASB) in ASC Topic 350-20. This course focuses on topics such as the initial recognition of goodwill and subsequent measurement requirements including the accounting alternative allowed for certain eligible entities. This course also addresses the disclosure requirements for goodwill and is current through the issuance of ASU 2019-06.
Designed For
Accounting professionals
Objectives
Identify the recognition requirements related to goodwill Recognize overall characteristics of goodwill impairment testing Differentiate between the qualitative and quantitative test of goodwill impairment Identify key characteristics of the accounting alternative for goodwill List the key disclosure requirements for goodwill and goodwill impairment losses
Major Subjects
Initial recognition of goodwill Subsequent measurement requirements including the accounting alternative allowed for certain eligible entities Disclosure requirements for goodwill
Instructions
None

(SSTX107/25) Surgent's Advanced Critical Tax Issues for Limited Liability Companies and Partnerships
2025-06-30 12:00
Event Description
The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.
Designed For
Accounting and Financial Professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies
Objectives
Identify the tax and non-tax advantages and disadvantages of LLCs and partnerships Describe how inside and outside basis is affected by liabilities, recourse and nonrecourse Discuss the impact of cash and property distributions Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership Complete a case study to improve advocacy skills before the IRS
Major Subjects
Coverage of the Inflation Reduction Act of 2022 Single-member limited liability companies as an alternative to subsidiaries Cancellation of indebtedness: rules and regulations How the IRS views members or partners for Social Security purposes Special problems when forming an LLC Debt issues and problems in structuring LLCs and LLPs, including loan guarantee issues, recourse and nonrecourse debt, the at-risk basis rules, and new regulations restricting bottom dollar guarantees Distributions: is it just a disguised sale? New regulations eliminate certain tax-deferred leveraged partnership transactions Death or retirement of a member or partner — Understanding the alternatives Step-up in basis issues — How to make the computations and elections Property transactions between the LLC/LLP and its members or partners — Inbound and outbound transactions: what to do with built-in gain or loss property Partnership losses: when are they deductible?; See, in particular, TCJA and CARES override Material participation rules for LLC members and limited partners: how they affect passive loss issues Continuation and termination of an LLC/partnership in the context of a merger or acquisition Sales of an LLC Interest — holding period, and hot asset issues Impact of the tax on investment income on the sale of an interest in a partnership or LLC Repeal of technical termination of partnership provision
Instructions
None

(SSTX268/25) Surgent's Weekly Expert Hour (Original Air Date: 7/15/21)
2025-06-30 12:00
Event Description
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and our clients and changes that are new but totally irrelevant. Distinguishing between the two is difficult and time-consuming. Mike Tucker and a team of experts are pleased to announce a new weekly series designed to eliminate the clutter and get you what you need to stay up to date and perform for your clients. We are all aware that the IRS, along with other state and federal regulators, is issuing guidance with increased frequency due to the coronavirus pandemic tax changes. New rules need to be analyzed, dissected, and explained more quickly than in days gone by so that our clients are kept informed of opportunities that may not last long. This weekly series will provide relevant and important tax and financial changes in a quick, concise format. Each week, Mike and his co-presenters will dispense news on current events impacting taxes, finance, and industry. The subject matter will differ each week and intermittently include topics such as Social Security and Medicare. The panelists will discuss personal and corporate tax matters as well as other late-breaking news related to practitioners’ personal finances and those of their clients.Every financial professional will benefit from this series. Please Note: CFP credit is not available for this course in 2021.
Designed For
Financial professionals who wish to be up to speed on the latest news affecting themselves and their clients
Objectives
Be well informed on current topics impacting taxes, finance, and industry
Major Subjects
Advance Child Tax Credit payments 7/1/2021 Interim Final Regs on the No Surprises Act How inflation affects depreciation tax planning Preparing for inflation Tax timing issues
Instructions
None

(SSAA113/25) Surgent's Compilations, Review, And Attestation Engagements
2025-06-30 12:00
Event Description
Most CPA firms perform some level of compilation and review engagements. And some perform engagements under attestation standards. Building off what you learned in the training in Level 1, Module 4, this course offers builds provides a deeper dive into the most frequently missed issues in compilations and reviews engagements. We will also focus on attestation engagements and the various types of engagements an auditor can perform. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 2.)
Designed For
Accountants who perform compilations, reviews, and attestation engagements.
Objectives
Recall SSARS Basics Understand advanced SSARS reporting issues, such as complying with international standards and preparing compilations of proforma information. Explain how to avoid peer review deficiencies in compilation and review engagements. Identify the distinction between different levels of engagements performed in accordance with the attestation standards (examinations, reviews and agreed upon procedures)
Major Subjects
Frequently missed issues in compilation and review engagements as noted by peer reviewers Understand how to comply with AR-C 100 on International Standards and AR-C 120, Compilations of Proforma Information Introduction to attestation standards (AT) Performing attestation examination engagements Performing attestation review engagements Performing Agreed Upon Procedures
Instructions
None

(SSOT108/25) Surgent's Bankruptcy Basics: Understanding the Reorganization and Liquidation Process in These Uncertain Economic Times
2025-06-30 12:00
Event Description
Consumers and businesses file for bankruptcy to seek protection from creditors and to reorganize or liquidate debts. Bankruptcy filings rise and fall with the economy. Surveys show that loss of income is the leading cause of consumer bankruptcies, followed by medical expenses and foreclosure. Corporate bankruptcies, on the other hand, are often the result of several factors, including excessive debt, decreased demand, increased costs, lawsuits or poor accounting practices.It is no secret bankruptcy filings will see a tremendous uptick in the wake of the Covid-19 pandemic. As an accountant, CFP, attorney or other professional, you need to be able to discuss the process and different available courses of action with your clients. Both landlords and tenants will be influenced tremendously. Individuals will look to your advice for a discharge and new start. Businesses will do the same and will also need to advise loyal employees. Creditors will receive proofs of claim and look to you for your expertise. Take this webinar and make sure you can speak fluently to both creditors and debtors. As trusted advisors, then, professionals should have a basic understanding of the bankruptcy process. This course provides a thorough review of the consumer and corporate bankruptcy practice. Participants in this webinar will gain an understanding of how consumer and corporate bankruptcy proceedings begin and end, as well as learn about key issues that affect debtor and creditor rights during bankruptcy.This webinar provides information from the perspective of both debtor and creditor. Although bankruptcy concerns the debts of the debtor, the Bankruptcy Code provides substantial protections to creditors. Creditor rights, however, vary widely depending on the status afforded the creditor under the Bankruptcy Code. Do yourself, your clients and your profit margin a favor and sign up for this invaluable webinar.
Designed For
Professionals seeking to understand the basic components of bankruptcy proceedings
Objectives
Understand the different types of bankruptcy proceedings Advise clients regarding the proof of claim process Be well versed in the eligibility requirements for consumer bankruptcies Understand the role of the automatic stay injunction
Major Subjects
Commencement of a bankruptcy proceeding Protections provided to debtors under the Bankruptcy Code Key procedural aspects of bankruptcy The automatic stay Differences between Chapters 7, 11, and 13 bankruptcy cases The bankruptcy discharge Proofs of claim Plans of reorganization Litigation that can arise during bankruptcy Creditor committees Bankruptcy trustees Avoidable preferences and fraudulent transfers Special rights afforded to landlords and secured creditors
Instructions
None

(SSTX117/25) Surgent's Federal Tax Update
2025-06-30 12:00
Event Description
Both businesses and individual clients face major changes as a result of new legislation, 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 cases and rulings applicable to individual and business clients. Continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BIT4.
Designed For
Accounting and Finance Professionals who need to know the latest tax law changes in all areas of practice
Objectives
Understand strategies and techniques to use in light of new legislation Understand the latest enacted tax law changes Understand current cases and rulings affecting your clients
Major Subjects
Comprehensive coverage of the Inflation Reduction Act, including: The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, and Prevailing Wage and Apprenticeship Requirements Comprehensive coverage of the ;SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance Timely coverage of breaking tax legislation Bonus depreciation in 2023 Section 174 Research and Experimental Expenditures New FinCEN reporting requirements in 2024 Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
Instructions
None

(SSAA134/25) Surgent's Current Issues in Accounting and Auditing: An Annual Update
2025-06-30 12:00
Event Description
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a detailed review of SAS No. 145 and brings you up to date on FASB and AICPA standards issued over the past few years. The course also provides many hands-on examples and illustrations to help apply the guidance in practice and discusses other important A&A practice matters to be aware of, including an update on peer review and audit quality.
Designed For
Accounting and attestation practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities
Objectives
Recall and apply recently issued and proposed FASB and AICPA pronouncements Recall and apply guidance from ASC Topic 842, Leases Understand SAS Nos. 142 and 145 Identify other important A&A practice matters to be aware of Utilize hands-on examples and illustrations to demonstrate an overall understanding and application of the material
Major Subjects
Recently issued FASB Accounting Standards Updates, the PCC Update, and items on the FASB’s Technical Agenda Leases Topic 842 Review of SAS No. 142 Audit Evidence Recently issued SASs and other AICPA activity Detailed review of SAS No. 145 Other important A&A practice matters
Instructions
None

(SSTE109/25) Surgent's Data Analytics Readiness Series: Data Modeling
2025-06-30 12:00
Event Description
This one-hour course will focus primarily on Power Query, Power Pivot, and VLOOKUP skills. Users will learn how to join tables using various techniques and add-ons in Excel. Users will understand how to utilize the tools while maintaining data integrity. The majority of the course will focus on hands-on data exercises. Users will apply skills to create relationships and analyze the data using Power Query. This course is one in a ten-part certification series, Core Data Analytics: Excel and Power BI Skills for Accounting and Finance Professionals, by Surgent IQ.
Designed For
Accountants who want to transition to data analysis and have a basic knowledge of Excel and Excel formulas
Objectives
Understand the applicable Excel skills that will be required in making the transition to data analyst Understand types of data relationships that exist within the data (e.g., linear, normal, etc.) Apply VLOOKUP and index match formulas in Excel Append and merge multiple data sets into one Create relationships in Power Pivot
Major Subjects
How to join tables using VLOOKUP Power Query- append queries and merge queries Power Pivot- Creating a relationship via diagram view Types of relationships Data integrity Normalization Facts vs dimension tables Exercises- data modeling VLOOKUP and index match formula Appending data in Power Query Merging data in Power Query Connection only queries Creating a relationship in Power Pivot
Instructions
Install Power Pivot and Data Analysis ToolPak

(SSTX214/25) Surgent's S Corporation Core Tax Issues From Formation Through Liquidation
2025-06-30 12:00
Event Description
As experienced staff members master the preparation intricacies of an 1120-S tax return, they are expected to understand and apply the underlying concepts, principles and laws governing S corporation status. This course is designed to illustrate in both theory and practice overarching principles that govern S corporations from formation to revocation, termination and liquidation. Experienced, client-facing staff should be aware of the pitfalls that may inadvertently cause an S-status termination or may generate unintended tax consequences to shareholders.
Designed For
Experienced Accounting and Financial Professionals desiring a comprehensive case approach to understand reasonably complex S corporation issues and problems; also, Accounting and Financial Professionals who want a comprehensive, intermediate-level S corpo
Objectives
Prepare more complicated S corporation returns Understand certain advanced concepts of S corporation taxation Protect S corporation clients from falling out of S corporation eligibility
Major Subjects
What exactly is terminating S corporations, including recent rulings Schedules K-2 and K-3 reporting requirements and filing exceptions Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations Shareholder changes Living Trust and causes S termination LLCs electing S status, changing agreement could terminate election Inherited a new client with reporting errors? What are my options? Debt vs. equity and Sect 385; Federal Express battled and won, how do we? Are we to expect SECA tax on pass-through entities? Shareholders losing substance over form argument Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses Can I accrue expenses payable to a shareholder? Sure, but can I deduct them? How Sect 179 limitations affect S corp. basis Comparison of liquidation of a C corporation vs. the liquidation of an S corporation Did not timely file Form 2553? A simple method to correct Is there a flexible standard of law in regard to closely held entities?
Instructions
None

(SSTX247/25) Surgent's Weekly Expert Hour (Original Air Date: 9/23/21)
2025-06-30 12:00
Event Description
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and our clients and changes that are new but totally irrelevant. Distinguishing between the two is difficult and time-consuming. Mike Tucker and a team of experts are pleased to announce a new weekly series designed to eliminate the clutter and get you what you need to stay up to date and perform for your clients. We are all aware that the IRS, along with other state and federal regulators, is issuing guidance with increased frequency due to the coronavirus pandemic tax changes. New rules need to be analyzed, dissected, and explained more quickly than in days gone by so that our clients are kept informed of opportunities that may not last long. This weekly series will provide relevant and important tax and financial changes in a quick, concise format. Each week, Mike and his co-presenters will dispense news on current events impacting taxes, finance, and industry. The subject matter will differ each week and intermittently include topics such as Social Security and Medicare. The panelists will discuss personal and corporate tax matters as well as other late-breaking news related to practitioners’ personal finances and those of their clients.Every financial professional will benefit from this series. Please Note: CFP credit is not available for this course in 2021.
Designed For
Financial professionals who wish to be up to speed on the latest news affecting themselves and their clients
Objectives
Be well informed on current topics impacting taxes, finance, and industry
Major Subjects
Latest news on proposed tax legislation (as of 9/23/21) Modification of rules relating to retirement plans SECURE Act 2.0 Wyden pass-through reform discussion draft
Instructions
None

(SSAA104/25) Surgent's Auditing Property, Plant, & Equipment
2025-06-30 12:00
Event Description
Property, plant, and equipment is present, at least to some extent, in virtually all audit clients. Auditing the area can be straight forward but when an entity is building machinery or equipment, complexities arise. Property and equipment can also include right of use assets under lease agreements. This module will address assessing the risk of property and equipment, internal controls that prevent and detect misstatements in property and equipment, auditing techniques responsive to the assessed risk and disclosure. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 1.)
Designed For
Accountants responsible for auditing property, plant, and equipment
Objectives
Discuss audit risks related to property equipment Identify internal controls to prevent, detect and correct misstatement in property and equipment Tailor an audit plan to respond to assessed risk of material misstatement Understand the key controls related to PP&E Describe and apply lease accounting requirements Test disclosures for completeness and compliance with GAAP
Major Subjects
Assessing risk Internal control related to property and equipment Audit procedures for property and equipment Construction of assets including capitalizing interest Lease accounting requirements and disclosure of right of use asset Disclosure of property and equipment
Instructions
None

(SSAA126/25) Surgent's Understanding and Testing General Information Technology Controls
2025-06-30 12:00
Event Description
The information technology component of the COSO Framework’s Information and Communication element is a very important part of an entity’s business processes. Controls over information technology (IT) are effective when they maintain the integrity of information and the security of the data the systems process and when they include effective general IT controls (GITC) and application controls. GITC are policies and procedures that function as the foundation to support the effective operation of the system’s application controls. The increasing complexity of IT systems in many entities has resulted in a greater focus around controls in the IT environment. There is a growing trend toward automation of processes and controls as more and more entities adopt advanced IT products and services to enable greater efficiency in operations, compliance, and reporting activities. This requires an increased focus on the entity and the auditor on GITC. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 4.)
Designed For
Accountants with several years in the auditing profession
Objectives
Distinguish between GITC and application controls Identify the 4 major categories of GITC Discuss when it is sufficient for the auditor to understand GITC and when testing is useful or required. Identify specific controls in each of the GITC categories.
Major Subjects
Defining GITC and application controls Major categories of GITC Understanding GITC Testing GITC
Instructions
None

(SSMG109/25) Surgent's Enterprise Risk Management Concepts and Strategy for Small and Medium-Sized Companies
2025-06-30 12:00
Event Description
2020 taught us that major risks can come at us from any direction and with barely a warning. All organizations operate in a risk environment, but all too often, they either don’t realize it or they don’t develop a strategy to deal with the risks. In this session, we will explore how risks work in both for-profit and not-for-profit organizations and how they can develop a strategy to identify, evaluate, and mitigate those risks. This program will not teach how to eliminate risks, but how to strategize how to reduce their total effect. We will liberally use case studies of both for-profit and not-for-profit companies to bridge the gap between concept and actual implementation. In each area we will explore what our experiences of the pandemic have taught us about this part of risk management.
Designed For
CFOs, controllers, and finance professionals
Objectives
Understand how risks can both positively and negatively affect the organization Learn more about how we could have been better prepared for the pandemic Determine the nature of risk in both large and small organizations Understand the tolerance for risk in the organization Match risks to proper strategy Perform risk analysis and evaluations See how the strategy of the organization represents risk
Major Subjects
Overview of ERM and how it affects all organizations What COVID-19 has taught us about risk management Risk tolerance and developing a plan Risk identification Risk analysis Risk responses Strategy risk
Instructions
None

(SSTX118/25) Surgent's Federal Tax Update
2025-06-30 12:00
Event Description
Both businesses and individual clients face major changes as a result of new legislation, 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 cases and rulings applicable to individual and business clients. Continually updated to reflect enacted legislation. Please Note: Due to content overlap, it is recommended that this course NOT be taken together with BIT4.
Designed For
Accounting and Finance Professionals who need to know the latest tax law changes in all areas of practice
Objectives
Understand strategies and techniques to use in light of new legislation Understand the latest enacted tax law changes Understand current cases and rulings affecting your clients
Major Subjects
Comprehensive coverage of the Inflation Reduction Act, including: The Clean Vehicle Credit, Credit for Previously Owned Clean Vehicles, Credit for Qualified Commercial Clean Vehicles, Residential Clean Energy Credit, Energy Efficient Home Improvement Credit, Premium Tax Credit, and Prevailing Wage and Apprenticeship Requirements Comprehensive coverage of the;SECURE 2.0 Act, including: Expanding Enrollment in Retirement Plans, Increase in Age for Required Beginning Date for Mandatory Distributions, New Exceptions to Penalty-Free Withdrawal from Retirement Plans, and recent IRS guidance Timely coverage of breaking tax legislation Bonus depreciation in 2023 Section 174 Research and Experimental Expenditures New FinCEN reporting requirements in 2024 Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas
Instructions
None

(SSMG105/25) Surgent's Microsoftr Excelr 2016: Creating and Formatting Charts
2025-06-30 12:00
Event Description
Excel provides a variety of tools you can use to create, format and enhance charts: contextual Ribbon tab buttons, menus and galleries, shortcut menus, keyboard shortcuts, task panes, and more. This course allows you to explore using these tools to create and format common chart types.
Designed For
Experienced Excel 2016 users, or experienced Excel users switching from earlier versions.
Objectives
Create, preview, and print commonly used charts Format charts using the Chart Elements and Chart Styles buttons Apply chart quick layouts and quick styles Modify a chart’s underlying data using multiple methods Reposition and resize an embedded chart Move an embedded chart to its own chart sheet Select and format individual chart elements
Major Subjects
Identify chart elements Select an embedded Pie chart using Recommended Charts; select formatting options for the chart Select a Clustered Column chart using the Quick Analysis feature; select formatting options for the chart Recognize how to preview and print charts Select methods to change the chart type and subtype Identify how to apply a predefined chart layout and chart style Recognize ways to add, select, and format individual chart elements Select methods to add and remove data and change data orientation Select Line with Markers, Stacked Area, exploded 3-D Pie, Pie of Pie, and Clustered Column-Line on Secondary Axis, Treemap, Sunburst, and Waterfall charts; identify ways to format the charts Recognize a Sparklines chart; identify formatting options for the chart Identify ways to insert and format a picture and draw and format a shape on a chart
Instructions
None

(SSAA139/25) Surgent's Annual Accounting and Auditing Update
2025-06-30 12:00
Event Description
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard-setting activities of the FASB and AICPA. In addition to providing a detailed review of SAS No. 145, this course will bring you up to date on FASB and AICPA standards issued over the past few years. The course also provides many hands-on examples and illustrations to help you apply the guidance in practice.In addition to a financial accounting update, the course will discuss what you will need to do differently as you adopt new audit standards 142-149 over the next few years, including a detailed review of the new audit requirements under SAS 142. The course will also cover the key changes related to SSARS No. 25. Finally, the course reviews the AICPA’s quality management project.In summary, the course is your go-to source for all things A&A and will prepare you for your upcoming engagements throughout the rest of the year.
Designed For
Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities
Objectives
Review and apply recently issued and proposed FASB and AICPA pronouncements Review and apply guidance within ASC 842, Leases Understand SAS 142 and SAS 145; Recall and apply AICPA quality management standards Be familiar with other important A&A practice matters you should be aware of Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
Major Subjects
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
Instructions
None

(SSAA253/25) Surgent's Examining ASC 842, Leases: More Than Meets the Eye
2025-06-30 12:00
Event Description
Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the now-effective changes to the lease accounting guidance. In this course, we will review how to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842’s effective date here, now is the time to get up to speed on this complex new standard.
Designed For
Practicing CPAs and their staffs, both in public accounting and business and industry — controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Objectives
Comprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842) Recall operational issues in adopting the new lease accounting standard
Major Subjects
ASU No. 2016-02, Leases (Topic 842) Overall lease accounting guidance Lessor Accounting 101 Lessee Accounting 101 Detailed review of accounting by lessees and lessors Sale and leaseback transactions Transition guidance Other operational issues Recently issued updates to the lease accounting guidance FASB guidance on accounting for COVID-19-related rent concessions Feedback from the public company adoption of Topic 842
Instructions
None

(SSAA252/25) Surgent's What You Need to Know About ASC 842, Leases
2025-06-30 12:00
Event Description
With the effective date of ASC 842, Leases, right around the corner, companies are running out of time develop their implementation plans. In this one-hour overview course, we’ll review the key accounting aspects of ASC 842, primarily from a lessee’s perspective. The course will review lease classification, measuring and recording lease liabilities and related assets, and subsequent accounting for both finance and operating leases. The course will also discuss transition accounting for ASC 842 and provide examples of the new disclosures required under the new standard.This course is the one-stop shop to get all the basic information about this standard before it’s too late.
Designed For
Practicing CPAs and their staffs, both in public accounting and business and industry — controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Objectives
Comprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842) Recall operational issues in adopting the new lease accounting standard
Major Subjects
ASU No. 2016-02, Leases (Topic 842) Overall lease accounting guidance Lessor Accounting 101 Detailed review of accounting by lessees; Transition guidance Recently issued updates to the lease accounting guidance
Instructions
None

(SSTX221/25) Surgent's Forms 1120-S and 1065 Return Review Boot Camp for New and Experienced Reviewers
2025-06-30 12:00
Event Description
Most review techniques developed by professionals are self-taught and fine-tuned via experience. Yet how does one start? The purpose of this course is to give both new and seasoned reviewers additional and advanced procedures via a multitude of checklists to more thoroughly review S corporation and partnership tax returns. Its emphasis is not planning; rather, it is to develop a strategy to properly review a return effectively and thoroughly. The course includes dozens of “practice tips for new reviewers” and is updated for impacts of newly enacted legislation.
Designed For
Senior-level staff new to the review process or experienced staff members looking to update and/or expand their review procedures
Objectives
Expand the process involved in reviewing applicable tax returns Identify the most common areas that result in errors Document a review, including consideration of risk management
Major Subjects
Reviews of portions of error-prone staff-prepared Forms 1120-S and 1065 from client-provided information What are common errors preparers make and what are the areas generating malpractice claims? Initial administrative groundwork The importance of Schedule M-1 Reporting requirements and filing exceptions for Schedules K-2 and K-3; Don’t fall prey to reporting oddities When can seemingly separately stated Schedule K items actually be trade or business items to report on Forms 1120-S or 1065, page 1? Form 1120-S: What exactly is terminating S elections today? How do I recognize a second class of stock? Maintaining shareholder basis schedules; beware of final IRS regulations regarding open debt; the default method of calculating basis versus the election under Sect 1367; can an S corporation distribute earnings and profits from C corporation years? Form 1065: Why use Sect 704(b) to maintain capital accounts; Sect 704(c) regulations for preventing the shifting of tax consequences among partners or members; allocating recourse, nonrecourse, and qualified nonrecourse debt; a review of Sect 754 step-up in basis rules Multiple checklists of efficient procedures to identify potential issues on an 1120-S or 1065 tax return
Instructions
None

(SSAA179/25) Surgent's Guide and Update to Compilations, Reviews, and Preparations
2025-06-30 12:00
Event Description
Specifically designed for preparation, compilation, and review practitioners, this course will provide you with a comprehensive review and hands-on application for performing financial statement preparation, compilation, and review engagements. You will learn the ins and outs of applying SSARS No. 21, Clarification and Recodification, as well as the additional guidance related to SSARS engagements through the issuance of SSARS Nos. 22-25 by the ARSC. The course will also review recent peer review feedback on SSARS engagements, providing insights on how to successfully apply this guidance.Not only will this course bring you up to date on SSARSs requirements and guidance, but more importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform compilation, preparation, and review engagements.
Designed For
Accounting practitioners and their staff performing and managing compilation, preparation, and review engagement services
Objectives
Understand and apply SSARS No. 21, Clarification and Recodification Be familiar with changes related to the issuance of SSARS Nos. 22-25 Be familiar with preparation, compilation, and review program examples Be aware of the most recent reports and other required communications
Major Subjects
SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services — 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions Sample comprehensive engagement work programs for preparation, compilation, and review engagements
Instructions
None

(SSAA262/25) Surgent's Performing a Preparation Engagement Under AR-C Section 70
2025-06-30 12:00
Event Description
Be the go-to person for financial statement preparation engagements. Specifically designed for preparation practitioners and their staff, this course will provide you with a hands-on application for performing preparation engagements under AR-C Section 70. You will learn the ins and outs of relevant sections of SSARS No. 21, Clarification and Recodification, the most significant change to the SSARS since their inception over thirty years ago. This course will bring you up to date on all SSARSs requirements and guidance as it relates to preparation, including SSARS No. 25, effective for 2021 reporting.The course will also provide an overview of the different services that an accountant can provide under the SSARS and review the requirements of AR-C Section 60 as it relates to preparation engagements.
Designed For
Accounting practitioners and their staff performing and managing preparation and compilation engagement services
Objectives
Identify differences in engagements performed under the SSARS Recall general requirements for all SSARS engagements Identify requirements for preparation engagements under AR-C Section 70
Major Subjects
Relevant sections of SSARS No. 21, Clarification and Recodification Updates to SSARS No. 21 guidance due to issuance of SSARS Nos. 22-25 Review of AR-C Section 60 requirements for all SSARS engagements Detailed guidance on performing preparation engagements under AR-C Section 70
Instructions
None

(SSAA277/25) Surgent's Surging Auditors: Searching for Unrecorded Liabilities
2025-06-30 12:00
Event Description
The manager for Home D‚cor and More (HDM) requests that participants conduct a search for unrecorded liabilities. The company experienced recent turnover in the accounts payable department so there is extra concern that all liabilities have been captured as of year-end. Participants will use their expertise to make resource requests from the HDM accounting team. Once they receive the supporting documentation, they will trace transactions to the detail to identify whether each selection is properly recorded as of year-end. The manager will share feedback on the results of the search!
Designed For
Accounting professionals who want to practice decision making related to the search for unrecorded liabilities ?
Objectives
Perform a search for unrecorded liabilities as of the balance sheet date Identify the accounting treatment for accounts payable, accrued liabilities and accrued expenses Understand the risks involved in accounts payable, accrued liabilities and accrued expenses at the assertion level Determine the appropriate audit evidence to obtain for the search for unrecorded liabilities Evaluate results from a search for unrecorded liabilities and make proposed adjustments based on the evaluation of the evidence Assess the propriety of accrued estimates and accounts payable Determine if proper cut-off procedures were followed
Major Subjects
Optimal resource requests to support an appropriate search for unrecorded liabilities Tracing transactions to the detail to identify whether liabilities are properly recorded Evaluation of evidence to meet management’s assertions
Instructions
None

(SSAA263/25) Surgent's Firm Quality Control Standards and Best Practices
2025-06-30 12:00
Event Description
The best way to ensure engagement quality is through consistent application of a firm’s system of quality control. In this course, we will review the key components of such a system, which can be found in the AICPA’s quality control standards. Specifically, this course will discuss adherence to relevant ethical standards, client and engagement acceptance and continuance procedures, human resources policies and procedures, engagement performance and monitoring activities, and best practices in designing and implementing effective quality control standards that address the responsibilities of firm leadership.The course will place special focus on addressing the challenges that smaller firms may have when attempting to implement these standards.
Designed For
CPAs in public practice with accounting, financial reporting, or attest responsibilities
Objectives
Recall AICPA Firm Quality Control standards Identify best practices for effective implementation of effective firm-wide quality control initiatives
Major Subjects
The major requirements of QC Section 10, A Firm’s System of Quality Control Elements of an effective system of quality control Considerations for sole practitioners and smaller firms when implementing QC Section 10 Guidance in implementing an effective firm-wide system of quality control across its six components
Instructions
None

(SSTX289/25) Surgent's Weekly Expert Hour (Original Air Date: 10/29/20)
2025-06-30 12:00
Event Description
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and our clients and changes that are new but totally irrelevant. Distinguishing between the two is difficult and time-consuming. Mike Tucker and a team of experts are pleased to announce a new weekly series designed to eliminate the clutter and get you what you need to stay up to date and perform for your clients. We are all aware that the IRS, along with other state and federal regulators, is issuing guidance with increased frequency due to the coronavirus pandemic tax changes. New rules need to be analyzed, dissected, and explained more quickly than in days gone by so that our clients are kept informed of opportunities that may not last long. This weekly series will provide relevant and important tax and financial changes in a quick, concise format.Each week, Mike and his co-presenters will dispense news on current events impacting taxes, finance, and industry. The subject matter will differ each week and intermittently include topics such as Social Security and Medicare. The panelists will discuss personal and corporate tax matters as well as other late-breaking news related to practitioners’ personal finances and those of their clients.Every financial professional will benefit from this series.Please Note: CFP credit is not available for this course in 2021.
Designed For
Financial professionals who wish to be up to speed on the latest news affecting themselves and their clients
Objectives
Be well informed on current topics impacting taxes, finance, and industry
Major Subjects
Taxpayer Advocate Service (TAS) COVID-19 Business Tax Relief Tool 2021 retirement plan limits State tax issues: out-of-state commuters, nexus, convenience rules, telecommuting American economic policies in practice over the years
Instructions
None

(SSTX150/25) Surgent's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships
2025-06-30 12:00
Event Description
The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.
Designed For
Accounting and Financial Professionals who prepare both individual and flow-through business entity tax returns and need a thorough grasp of these significant issues. This course is a must for practitioners to help reduce and avoid this exposure to malpra
Objectives
Determine initial basis and organizing tax-free underSect 351 and Sect 721 Understand what affects basis and how to treat distributions Pass the four loss limitation hurdles to deduct pass-through losses
Major Subjects
Timely coverage of breaking tax legislation Applicable coverage of any basis considerations within any recent tax legislation;; Passthrough basis calculations required as attachments to certain individual returns; Executor’s form for disclosing basis in certain distributed property; what about the basis of a property distribution from a trust?; How Sect 179 limitations affect basis and how tax-benefit rule is applied; Basis implications of personal assets converted to business use; How to calculate basis of inherited qualified and joint tenancy property; Tax basis capital account reporting requirements; S corporations: Beware of final IRS regulations regarding open debt; determine how to calculate basis; worksheets are included; understand the effect of stock basis and debt basis and IRS’s recent focus on at-risk basis for shareholders; recognize how AAA applies or doesn’t apply to S corporations; learn to apply the complex basis ordering rules and special elections that can have a big tax result; discuss loss limitation rules in depth; when you can have a taxable dividend in an S corporation; understand distributions of cash and property; understand the post-termination transition rules, and temporary post-termination rules for eligible corporations, which will be important for S corps returning to C corps; LLCs and partnerships: Learn the detailed rules of Sect 704 for preventing the shifting of tax consequences among partners or members; learn to calculate basis under Sect 704 and for at-risk under Sect 465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; learn the difference between basis and at-risk basis; review Sect 754 step-up in basis rules; the economic effect equivalence test or dumb-but-lucky rule; learn to apply the complex rules of distribution of cash vs. property, and the basis treatment of charitable contributions and foreign taxes paid;
Instructions
None

(SSAA169/25) Surgent's Construction Contractors: Critical Accounting, Auditing, and Tax Issues
2025-06-30 12:00
Event Description
Accounting and financial reporting for construction contractors may be the most difficult area to be in compliance with the various standards. Construction engagements are, in many instances, more “dangerous” than most lines of business due to the many users of the financial statements. In this course, we will discuss why construction accounting and financial reporting are so complex and discuss the relationship between the contractor and the surety, both from an underwriting and claims perspective. We will also explore what the surety looks for in order to maximize potential bond credit, and we will discuss key areas of tax compliance concentrating on those areas which make construction unique, including the impact of COVID-19 on the construction industry.
Designed For
Practitioners who have construction clients and professionals in the construction industry who need to be up to date on the latest information
Objectives
Apply accounting and financial reporting standards to construction contractors Perform audit and review engagements for construction clients according to the Standards as efficiently and effectively as possible Identify tax compliance issues unique to the construction industry and apply the latest changes
Major Subjects
Overall landscape of the construction industry GAAP and recent changes affecting the construction industry The new Revenue Recognition Standard and its impact on the construction industry Unique audit and review issues with construction contractors The unique relationship between the contractor and the surety Tax compliance issues facing construction contractors Tax opportunities created by the Inflation Reduction Act of 2022 Going concern disclosures and their importance to the construction industry The new lease FASB ASC and its impact on the construction industry;
Instructions
None

(SSTE102/25) Surgent's The Risks and Benefits of ChatGPT and Artificial Intelligence
2025-06-30 12:00
Event Description
We see multiple stories about the rapid growth of artificial intelligence (AI) and its entry into our lives in the form of AI tools, including ChatGPT. They seem to be everywhere. It is difficult to overstate how much things will change with the rise of these new technologies, or how important it is that companies embrace the opportunity to execute them correctly. Having conversations regarding the proper adoption of these technologies and tools is a crucial first step, including drafting policies to assist companies with their beneficial and thoughtful implementation and use. This course will define the state of AI tools, what benefits and risks exist, and which steps to take to begin adopting these technologies with appropriate guardrails, policies, and training. It is less likely that AI will destroy industries, and more likely that companies that embrace AI will overtake those companies that do not.
Designed For
Accounting and finance professionals seeking to understand the role of AI tools today and in the future
Objectives
Be familiar with AI tools and the current status of AI tool development Be able to explain what ChatGPT is and how it works Understand how AI tools will change the accounting and finance professions Be able to explain the benefits and risks of adopting AI tools Begin drafting policies around AI implementation for your firm or company
Major Subjects
What are AI tools? Where are we with AI tool development? What is ChatGPT? ChatGPT; what kind of queries are possible? Copyright and intellectual property issues Benefits of AI tools Concerns with AI tools Impact on business use of AI Policy on AI tools
Instructions
None

(SSTX297/25) Surgent's Weekly Expert Hour (Original Air Date: 9/03/20)
2025-06-30 12:00
Event Description
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and our clients and changes that are new but totally irrelevant. Distinguishing between the two is difficult and time-consuming. Mike Tucker and a team of experts are pleased to announce a new weekly series designed to eliminate the clutter and get you what you need to stay up to date and perform for your clients. We are all aware that the IRS, along with other state and federal regulators, is issuing guidance with increased frequency due to the coronavirus pandemic tax changes. New rules need to be analyzed, dissected, and explained more quickly than in days gone by so that our clients are kept informed of opportunities that may not last long. This weekly series will provide relevant and important tax and financial changes in a quick, concise format.Each week, Mike and his co-presenters will dispense news on current events impacting taxes, finance, and industry. The subject matter will differ each week and intermittently include topics such as Social Security and Medicare. The panelists will discuss personal and corporate tax matters as well as other late-breaking news related to practitioners’ personal finances and those of their clients.Every financial professional will benefit from this series.Please Note: CFP credit is not available for this course in 2021.
Designed For
Financial professionals who wish to be up to speed on the latest news affecting themselves and their clients
Objectives
Be well informed on current topics impacting taxes, finance, and industry
Major Subjects
CCA 202035011 The 10 most asked questions about IRAs and qualified plans Proposed regulations relating to employer-provided parking (as of 9/03/20) UPDATE on employee payroll tax deferrals (as of 9/03/20) Notice 2020-65
Instructions
None

(SSTX282/25) Surgent's Weekly Expert Hour (Original Air Date: 1/07/21)
2025-06-30 12:00
Event Description
As financial and tax professionals well know, information overload is a constant struggle we face because things change quickly, and the sheer number of changes being made on a daily basis is enormous. Of great importance to small and medium tax and advisory firms is differentiating between changes that are relevant to our practice and our clients and changes that are new but totally irrelevant. Distinguishing between the two is difficult and time-consuming. Mike Tucker and a team of experts are pleased to announce a new weekly series designed to eliminate the clutter and get you what you need to stay up to date and perform for your clients. We are all aware that the IRS, along with other state and federal regulators, is issuing guidance with increased frequency due to the coronavirus pandemic tax changes. New rules need to be analyzed, dissected, and explained more quickly than in days gone by so that our clients are kept informed of opportunities that may not last long. This weekly series will provide relevant and important tax and financial changes in a quick, concise format.Each week, Mike and his co-presenters will dispense news on current events impacting taxes, finance, and industry. The subject matter will differ each week and intermittently include topics such as Social Security and Medicare. The panelists will discuss personal and corporate tax matters as well as other late-breaking news related to practitioners’ personal finances and those of their clients.Every financial professional will benefit from this series.Please Note: CFP credit is not available for this course in 2021.
Designed For
Financial professionals who wish to be up to speed on the latest news affecting themselves and their clients
Objectives
Be well informed on current topics impacting taxes, finance, and industry
Major Subjects
Highlights of new end-of-2020 tax legislation Donor-advised funds Key themes for the economy and markets in 2021 Retirement income planning
Instructions
None

(SSTX129/25) Surgent's The Complete Guide to Liquidation of Business Entities
2025-06-30 12:00
Event Description
Liquidations may be used as an alternative to the sale of a business or as an adjunct to the sale of business assets. The objective of this course is to fully explore the technical tax and business issues in liquidating C corporations, S corporations, partnerships, and limited liability companies. This unique course is essential for anyone planning to sell a business.
Designed For
Accounting and Financial Professionals in public accounting and industry involved in business entity liquidations
Objectives
Describe the tax consequences to a corporation and its shareholders on a complete liquidation and the alternatives to a liquidation Understand the particular issues in the liquidation of an S corporation Consider the options available on the complete liquidation of a partnership or LLC
Major Subjects
Impact of recent legislation The unique planning opportunities and tax traps involved in the liquidation of a business entity Understanding installment sales and the big hurdles to favorable tax treatment in liquidation Filing Form 966: it’s more important than you think An analysis of when liquidation is advisable; now or later? Strategies to pursue in light of the tax rates on dividends and capital gains The special problems of liquidating Subchapter S corporations Key planning issues and benefits in liquidating partnerships and limited liability companies An expansion of the “carried interest” provisions of Rev. Proc. 93-27
Instructions
None
