Webinar

Financial and Tax Accounting for Partnerships and LLCs

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This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities, with a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed. This course does not qualify for IRS credit.

Major subjects

• Review of the AICPA financial reporting framework for small and medium-sized entities.
• Integration of these financial reporting approaches with accounting for issues in the formation of partnerships and LLCs.
• Financial accounting issues arising from changes in ownership of partnership and LLCs.
• Financial vs. tax accounting for partnership/LLC capital accounts.
• Review of Section 704(b) substantial economic effect rules and their relation to financial accounting.
• The integration of financial accounting for partnerships/LLCs with the Form 1065.
• Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests.
• Deferred tax accounting for partnerships/LLCs.

Learning objectives

• Apply financial accounting in the partnership setting with special emphasis on accounting for capital accounts.
• Identify the Accounting Standards Codification and OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs.

Who should take this program?

• CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $149.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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Related programs

June 15, 2026 | Surgent's Section 754 Step-Up in Basis: Understanding the Tax Issues for Partnerships and LLCs | Webinar

June 15, 2026 | Partnership/LLC Taxation: Tax Basis Capital Accounts | Webinar

June 15, 2026 | Partnership and LLC (Form 1065): Formation to Liquidation | Webinar

June 15, 2026 | Partnership/LLC Taxation: Understanding Tax Basis Capital Accounts | Webinar

June 19, 2026 | Hands-On Tax Return Workshop: Partnerships & LLCs (Form 1065) | Webinar

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Related products

Surgent's Advanced Critical Tax Issues for Limited Liability Companies and Partnerships | Self-Study (Downloadable PDF)

Surgent's Advanced Critical Tax Issues for Limited Liability Companies and Partnerships | Self-Study (On-Demand)

Surgent's Advanced Partnership/LLC Workshop: How to do Optional Step-Up in Basis Under Section 754 and Related Provisions | Self-Study (Downloadable PDF)

Surgent's Guide to Partner Capital Account Reporting | Self-Study (On-Demand)

Surgent's Limited Liability Companies: Losses, Liquidations, Terminations, Continuations and Sales | Self-Study (Downloadable PDF)

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