Course Outline Course Title & Author Accounting Methods Robert Jennings CPA, CFP® Credit Hours 2 Publication Date February 16, 2021 Topic Minutes Introduction & Overview 5 Cash Method 10 $25 Million Threshold test 5 Expenses paid in advance 5 Inventory 5 Accrual Method 10 Advance Payments 5 Gift Cards 5 Expenses 5 Inventory 5 Physical count requirements 5 Uniform capitalization 5 Common Expenses 5 Dues 5 Meals & entertainment 10 Owner Expenses 5 Changing accounting methods 10 Accrual to cash with completed 3115 5 Depreciation errors 5 Total 115 Upon completion of this course you will have a greater understanding of accounting methods and practices. Participants will be able to determine when the cash method is appropriate or the accrual method is required for accounting records. Special accounting for prepaid expenses, gift cards and advance payments are discussed along with accounting for inventory. Finally, 4 different examples are provided for changing accounting methods, with completed forms, are provided for changing from accrual to cash; from cash to accrual; from using inventory capitalization to bot using it; and to correct depreciation issues.
THIS IS A REBROADCAST - Earn Live CPE credit. This is a rebroadcast of an earlier webinar with a Live Moderator to answer your questions. You must have a high speed internet connection, speakers connected to your computer, headphones or call in for audio and a monitor. If you have more than 1 person PAID FOR and REGISTERED for the streaming webinar and all would like to watch from the same computer, please complete the Proctor Form and return to us AFTER completion of the webcast in order to receive CPE credit. You can log in 10 minutes early. Please note-you will not see or hear the speaker until the prompt start time. All streaming webinar times listed are Eastern Time Zone. Please adjust to your time zone.
Field of StudyTaxes-2.00
Upon completion of this course you should have a greater understanding of accounting methods and practices. Participants should be able to determine when the cash method is appropriate or the accrual method is required for accounting records. Special accounting for prepaid expenses, gift cards and advance payments are discussed along with accounting for inventory. Finally, 4 different examples are provided for changing accounting methods, with completed forms, are provided for changing from accrual to cash; from cash to accrual; from using inventory capitalization to bot using it; and to correct depreciation issues.
Fees and Schedule - This TaxSpeaker Internet-Live webcast will begin and end promptly at stated time. All 8-hour webcasts will break for lunch, and have 2, 10-15 minute breaks. Attendees must answer 75% of all polling questions given during the day to obtain the full hours of CPE Credits. Cancellation, Transfer and Refund Policy Registration fees will be refunded in full for up to 30 days in advance of the seminar. Registrations cancelled between 1-30 days prior to the seminar date are subject to a $50 cancellation fee. For more information regarding administrative policies, complaints and refunds please contact us at 877-466-1040 for auxiliary aid needs or visit www.taxspeaker.com. NO REFUNDS/TRANSFERS WILL BE ISSUED AFTER THE SEMINAR BEGINS. NO EXCEPTIONS. Continuing Education Jennings Advisory Group, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA Sponsor #108251 Jennings Advisory Group, LLC has entered into an agreement with the Return Preparer Office, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the Return Preparer office as to the quality of the program or its contribution to the professional competence of the enrolled individual. IRS Sponsor Number 5KBKR. ALL OF OUR TAX COURSES HAVE IRS APPROVAL UNLESS OTHERWISE NOTED**