PROFESSIONAL TAX & ACCOUNTING SEMINARS, INC. Robert J. Henkels, CPA - President
P.O. Box 123 Bethel Park, PA 15102-0123
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info@cpeducate.net SEMINARS AVAILABLE FOR CERTIFIED PUBLIC ACCOUNTANTS Accounting and Auditing
FASB/SAS UPDATE Level - Update 8.0 hrs This is a review of the new pronouncements that have been released during the past year by the professional boards and organizations that impact upon the preparation of financial statements. Also covered are: analytical review, going concern, accounting records concerns, and other older FASBs that can be used by a CPA to better serve their clients or company.
Presentation will include practical examples of how to apply the pronouncements for the benefit of your clients or company. Also includes practical application of pronouncements that do not affect your clients or company, but could make operations better. Presentation will include humor
Our most popular course.
ANALYTICAL REVIEW Level - Basic 4.0 - 8.0 hrs Reexamination of FASB 56 and its impact upon audits, reviews, compilations. Use to find out information about a company and how to make it the company better. How to make your company better based on procedures used by CPAs. Numerous examples - will review actual clients and receive guidance on applying analytical techniques. Input from participants. Can be personalized for in-house CPE using your own clients! This is a very beneficial course for new staff accountants
FRAUD: DRAMATIC CORPORATE FAILURES Level - Update 8.0 hrs This is an examination of the requirements contained in SAS 99 (with references to SAS 53 and SAS 54). The latest corporate fraud will be discussed. Examples of fraud and its detection will be covered. Use of analytical review will be discussed for possible detection. Some of the basic fraud schemes will be reviewed. Methods of fraud detection will be discussed. Case studies of prior frauds will be examined. Sections on WorldCom and Enron.
One of our most popular courses with industry and public accountants.
SARBANES OXELEY ACT OF 2002
AND THE NEW REGULATORY ENVIRONMENT Level - Basic 8.0 hrs The "SOX" is reviewed closely for hidden problems for all auditors and preparers of financial statements. The specific regulations that apply to controllers and other officers will be reviewed in depth. State regulations are reviewed. Several states have decided to "pile-on" regulations that apply to ALL audits! This will have a major impact upon the work performed by all CPAs in various states.
Do not be caught by surprise by the impact of potential state laws. Legislatures are planning to apply the SOX rules to many of the state sponsored retirement plans, local governments, and any place that state money is invested! Do not assume that SOX doesn't apply to you!!!
INTERNAL AUDITING -
WHY BOTHER IF WE HAVE AN AUDITOR? Level- Basic 4.0 - 8.0 hrs SAS 65 is examined in detail, with suggestions for improvement of internal control. Review of internal control. SAS 55 and SAS 70 will also be reviewed to gain additional insight into the real purpose for internal auditors. Suggestions for improvement of these functions will also be included.
This is a review of internal auditing from the public accountant's point of view.
PERSONAL FINANCIAL STATEMENTS -
HOW TO GENERATE REVENUE AND BUSINESS! Level - Basic 4.0 hrs Personal financial statement presentation has remain unchanged. Do you have clients that want to �book� the fair market value of their business? Do they want to show the appreciation that has occurred in investments, rental properties and their home? This is the way to accomplish it. The GAAP standards for personal financial statements fit nicely into this situation. Show your clients how they can show their �real � net worth to investors, banks, and other lenders.
This service can be used in conjunction with estate planning and financial planning to generate working numbers that will mean something to all parties involved. This service is underutilized by in understanding your clients estate, college and financial planning.
Numerous examples of formats and presentations that will benefit your client or company.
SPECIALIZED SEMINARS Presentation times can be adjusted from 1 to 8 hours, as needed Any of the FASB, SAS or SSARS pronouncements can be mixed or matched to provide a half, full or multiple day seminar for any organization. Examples: Exposure drafts that may impact upon your industry or clients, FASB 109 for audit department understanding.
Additionally, we are available to do seminars for your firm or for specific clients concerning any of these topics. Examples: Fraud seminar for controllers of your clients.
Taxation and Other
�NICKELS AND DIMES ADD UP TO DOLLARS� TAX PLANNING (Individuals) �DOLLARS AND SENSE� TAX PLANNING (Corporations) Level - Basic 8.0 hrs Review of techniques to reduce taxes. Includes making personal transactions deductible. Schedule C - The Last Tax Shelter in America. Never do anything just to reduce taxes. Current court cases/letter rulings for deductions. Business-use-of the home. Review of IRS �hot� audit items. IRA/Pension considerations. Family Limited Partnerships. Charitable remainder trusts.
Practical planning techniques for owners and officers of closely held companies. For clients with high income, proper use of �kiddie� tax. Use of a schedule C to reduce �kiddie� tax. Use of non-qualified deferred compensation to reduce social security taxes, increase social security benefits, and reduce state capital/equity taxes. IRA/Pension plan considerations.
�TO BE OR NOT TO BE, THAT IS THE QUESTION.
WHAT SHOULD MY COMPANY BE?� Level - Basic 8.0 hrs Examine the advantages/disadvantages of corporations (�C� and �S�), Partnerships (general, limited and family), LLCs, LLPs, and Schedule C. Distinctions between them and proper use will be discussed. Checklist will be included to assist in decision making process. Review compensation, benefits, future sale of business and assets, tax, record keeping and personality issues for each type of entity. The issue of employees and independent contractors will also be included since this is �hot� year. Case studies will be included, plus input from participants.
The NEW TAX LAW (Purchased form other providers) 8.0 hrs Review of the last tax law and how its parts will impact upon your clients for the years to come. Also discussed will be suggestions from both branches
OF COURSE I�M AN EMPLOYEE, I WAS ... INJURED,
LAID-OFF, DENIED BENEFITS. (Employee vs. Independent Contractor) Level - Basic 8.0 hrs Examination of twenty point common law test. Court cases, Form SS-8 and the new Congressional interim regulations will be reviewed. Practical solutions and suggestions. The pros and cons of having employees will be discussed. The ramifications of improper classification will be demonstrated through court cases. The �safe harbors� will also be reviewed for the benefit of taxpayers who might have been or could be audited.
This area becomes a �hot� issue in non-election years. All �odd� years are non-election years (2003, 2005)!
SCHEDULE C - THE LAST TAX SHELTER IN AMERICA Level - Basic 8.0 hrs The use of the Schedule C for corporations and officers, miscellaneous deductions that could be legally placed there, use of �normal and necessary� business deductions to reduce overall tax liability, hobby loss rules, business use of the home, family employees for highly compensated individuals, and other topics will be examined, along with the practical steps to incorporate these ideas within a family. The concept of Family Limited Partnership will also be discussed within this area.
The under use of this vehicle makes it a prime candidate for tax savings, especially if your clients are concerned about the �flat tax� discussion. Every tax law would have to include some provisions for a Schedule C. This would make this planning even more beneficial to your clients.
ESTATE TAX PLANNING - BASIC Level - Basic 8.0 hrs A look at the basic rules in estate taxes and how simple planning can save lots in estate taxes. The many entities that are available for planning will be discussed. this will include, but not be limited to: Family Limited Partnerships, Charitable Remainder Trusts and the �Plain Vanilla A/B - pour over � Trust. The pull back rule will be reviewed, along with new proposals by the current administration and Congress concerning this area. A review of the tax form and post-death planning techniques will be reviewed.
SPECIALIZED SEMINARS Presentation times can be adjusted from 1 to 8 hours, as needed Any of these seminars can be matched to provide a meal, half, full or multiple day seminar for any organization. Examples: Employees vs. Independent contractors, New Tax Law.
Additionally, we are available to do seminars for your firm or for specific clients concerning any of these topics. Examples: same as above.