course catalog
ONSITE LEARNING
Maximize staff education at your location.
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CalCPA offers: • Unparalleled advocacy in Sacramento; • Cutting-edge news and trends; • Leadership development opportunities; • Exclusive member discounts; and • Connections to more than 40,000 members. CalCPA’s firm billing program allows your firm to ensure that each staff member receives the full benefits of CalCPA membership without burdensome applications, reminders and invoices. Firm billing makes CalCPA membership easy with less paperwork, less postage and less hassle. Learn more and sign up your firm by contacting Lisa Brown at membership@calcpa.org.
What is Onsite Learning? CalCPA Education Foundation offers more than 170 programs that can be brought directly to you. Whether you have 10 staff members interested in a training or 50, Onsite Learning is designed to maximize your training resources.
Why Choose Onsite Learning? Onsite Learning boosts the impact of CalCPA Education Foundation’s high-quality courses by allowing instructors to select examples and case studies relevant to your business and giving you and your staff the opportunity to ask questions directly related to your firm in a confidential environment.
Ready to Schedule on Onsite Learning Program? Contact the CalCPA Onsite Learning team with your training interest. Our expert staff will assist you in selecting the program and instructor that best meet your needs. From the time you select the date, we will provide you with everything you need to host a successful CPE program at your firm. Plus, we will add the completed credit to each CPA’s record after the program so it will appear in their calcpa.org CPE Tracker. Contact Rebecca Duffy at onsite@calcpa.org to join the growing number of CPA firms that are benefitting from CalCPA Education Foundation’s Onsite Learning program.
About the Onsite Learning Course Catalog
Each section of the Course Catalog contains descriptions of just a few of the available courses for that topic. Complete lists of titles are located at the end of sections. For descriptions of all available Onsite Learning courses, visit calcpa.org/onsite.
ONSITE COURS 5 6 12 15 20 24 27 34 36 43
CalCPA Education Foundation Offerings Accounting and Financial Statements/Auditing Ethics Fraud Governmental Accounting and Auditing Management Marketing and Practice Development Taxation Trusts and Estate Planning Onsite Learning Instructors Credit Policies
SE INDEX More CalCPA Education Foundation Offerings Conferences CalCPA Education Foundation offers 18 conferences in both live and webcast formats throughout the year. These events offer insights on the hottest topics impacting myriad practice areas and industries from expert speakers—with sessions and tracks designed for different levels of expertise your entire firm can attend. Networking opportunities abound during sit-down luncheons. Plus, several conferences include sponsored receptions. Whether you are exploring a new practice area, hoping to make connections with nationally recognized experts or want to hear the latest updates and trends from multiple speakers, CalCPA Education Foundation conferences are right for you. Learn more and register at calcpa.org/conferences.
CE Weeks Top instructors, relaxing destinations and up to 40 hours of continuing education— CalCPA Education Foundation CE Weeks offer it all. Attendees have access to discounted room rates at hotels that are ideal for business travelers as well as family vacations. Whether your staff want to learn in the city they call home or explore one of California’s best-known destinations, CalCPA Education Foundation offers CE Weeks at great locations from which to choose. Learn more and register at calcpa.org/CEWeeks
On-Demand and PDF Self-study Products Your staff can earn CPE at their own pace with CalCPA Education Foundation’s self-study products. We offer 150 self-paced, skill-building courses in three convenient formats: on demand, PDF and recorded webcast. Our new on-demand platform offers high-quality video, chapter bookmarks, optional quizzes and instant access to the final exam. For the busiest CPAs, self-study products offer your staff the knowledge and instructors you’ve come to expect from our courses with maximum flexibility. Visit calcpa.org/selfstudy and choose the format that works best for you and your staff.
2014–15 ONSITE LEARNING COURSE CATALOG // ACCOUNTING AND FINANCIAL STATEMENTS / AUDITING
BEST-SELLER BESTSELLER
Accounting and Auditing Update (AAAU)
Accounting for Income Taxes: Advanced (AITXA)
Keep up to date with new standards related to financial accounting, compilation and review, and auditing. Taught by top instructor Thomas Noce, this course provides you with an overview of the standards’ specific requirements and their potential impact on financial statements. You will learn what is in the pipeline regarding proposed standards to identify issues that may impact your firm and clients. Plus, the activities of the Private Company Council (PCC) and the AICPA’s new Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) will be discussed.
Although ASC 740 (SFAS 109) went into effect in 2007, it remains a pervasive part of corporate accounting and financial disclosure requirements. Build an advanced understanding of ASC 740 (SFAS 109) to effectively use it to report the income tax results for complicated transactions. Key areas covered in this course include: applying the more likely than not criteria; required accounting, disclosure and classification of deferred taxes; calculating deferred tax assets; deferred tax liabilities; income tax expense and benefit for complicated transactions; accounting for uncertain tax positions; FIN 4;, and more.
Note: SEC reporting requirements and public company audit requirements will not be covered in this course.
Objectives • Recognize the deferred tax consequences of temporary differences for complicated transactions. • Identify tax rate differences. • Calculate deferred tax liabilities and assets. • Account for NOL carrybacks and carryforwards. • Consider the tax effects of business combinations. • Prepare required financial statement disclosures for income taxes.
Objectives • Understand the requirements and impact of all financial accounting standards recently issued or effective in 2014 and thereafter. • Examine compilation and review standards issued during the past two years, as well as the potential impact of outstanding exposure drafts. • Gain an overview of recently enacted auditing standards. • Review the activities of the Private Company Council and receive an overview of the AICPA’s new Financial Reporting Framework for Small-and Medium-sized Entities . Major Topics • All financial accounting standards effective in 2014 and thereafter • Outstanding exposure drafts related to proposed financial accounting standards • AICPA’s Financial Reporting Framework for Small and Medium Sized Entities • Compilation and review standards and interpretations • Auditing standards and interpretations
Major Topics • Business combinations • Employee stock options • Valuation allowances • Net operating loss carry backs and carry forwards • Alternative minimum tax and tax credit carry forwards • Domestic production activity deduction • Intra period tax allocation • Interim period tax allocation • Uncertain tax positions • Pcaob inspection deficiency of tax provisions in cpa working papers • Financial statement presentation and disclosure of taxes
Field of Interest Code: Accounting
Field of Interest Code: Accounting
CPE Hours: 8 | AA: 8
CPE Hours: 8 | AA: 8
Level: Update
Level: Advanced
Designed for:
Designed for:
CPAs who are responsible for preparing GAAP financial statements, as well as those who audit, review or compile financial statements.
CPAs, tax directors, financial executives and professional staff.
Author/Instructor: Thomas E. Noce, CPA, CFE
Author/Instructor: Ralph M. Scott
COURSES // 7
Audit Standards Update: Clarifying Risk Assessment (ASRISK)
Documentation Requirements, Design and Reviewing Techniques of Work Papers (WDPR)
Risk assessment is the core principle of the profession’s audit standards and is critical to conducting an effective and efficient audit. With peer review results in and more than few years’ worth of experience under the profession’s collective belt, it’s time to fine tune implementation of the Risk Assessment Standards. These standards, designed to eliminate the connect-the-dots methodology of checklist auditing and add critical thinking back into the audit process, remain a problem area for many firms resulting in engagement and peer review deficiencies. This course is updated for the recently enacted AICPA Clarity Standards that expanded the risk assessment methodology to many new additional audit areas.
Review current PCAOB, GAAS and SSARS engagement documentation requirements and peer review requirements that affect documentation compliance. Using practical examples from case studies, discover best practices related to the trend in paperless audits and other new tools to provide efficient and effective documentation to support the work performed. Proper documentation of analytical and substantive sampling and procedures will also be covered. Plus, learn how to effectively and efficiently review work papers and establish best practices.
Award winning instructor and practicing auditor Thomas Noce has been presenting and advising firms on the conceptual framework of risk assessment for many years before embodied current audit standards. His practical approach will break down this complex and misunderstood subject into an easy-to-understand, concise systematic approach. Formerly titled: Audit Standards Update: Clarified Risk Assessment Standards Objectives • Gain a conceptual understanding of the risk assessment process. • Assess how the standards have affected your audit practice and identify any additional changes you need to implement. • Refine your plan for implementing the procedural and documentation requirements embodied in these standards. • Understand the impact of recently enacted changes resulting from the AICPA Clarity Project. Major Topics • Assessing the risk of material misstatement. • Audit risk and the risk of material misstatement. • Performing mandatory risk assessment procedures. • Evaluating internal controls. • Responding to your risk assessment with appropriate audit procedures. • Complying with revised and expanded documentation requirements. Field of Interest Code: Auditing CPE Hours: 8 | AA: 8 | FR: 4 | GT: 8 Level: Intermediate Designed for: Auditors who require an in-depth understanding of the assertionbased approach to audit risk assessment. Additionally, industry CPAs will benefit from a better understanding of these standards. Author/Instructor: Thomas E. Noce, CPA, CFE
Objectives • Review authoritative pronouncements relating to engagement documentation. • Learn the organization, nature and purpose of various working papers. • Review how to document the assessment and responses to audit risks identified in a financial statement audit. • Learn how to identify and document main transaction cycles, including other internal control considerations. • Explore how to determine and document expectations of analytical procedures. • Understand how to properly identify most efficient testing design to support test of detail procedures, including documentation of sampling considerations. • Best approaches to procedures and documentation of key work papers, such as estimates, related parties, legal contingencies, going concern considerations, etc. • Explore the analytical procedures and inquiries required in a review vs. an audit engagement. • Learn how to effectively and efficiently review work papers and establish best practices. • Discuss the implications of fraud. Major Topics • Current pronouncements relating to the content of work papers for review and audit engagements. • Ownership, confidentiality and retention of work papers. • Various types of work papers and their organization within the engagement documentation, including the electronic paperless approach. • Documentation relating to specific areas of fraud, use of estimate, related parties, legal contingencies and the ability of the entity to continue as a going concern. • Common deficiencies in engagement documentation as noted in peer reviews. • The effect of working papers on the CPA’s legal liability. • The management process and approach to work paper review. Field of Interest Code: Auditing CPE Hours: 8 | AA: 8 Level: Overview Designed for: CPAs who want to learn how to properly identify risk and then design the most effective and efficient work papers to address those key risks and support their conclusions. Author/Instructor: Ryan Corbett, CPA
2014–15 ONSITE LEARNING COURSE CATALOG // ACCOUNTING AND FINANCIAL STATEMENTS / AUDITING
HOT TOPIC
Fair Value: Explained and Updated (FRVUP)
GAAP Update (GAPUP)
Fully understanding the concept of fair value means knowing its nuances under both U.S. GAAP and IFRS rules. In addition, the new private company standards have different rules for fair value items and different implementation dates. This course will explore the differences and what you need to know about fair value and when that knowledge is applicable to your work. It will cover which items are affected in different scenarios and how to present fair value on financial statements. It will also examine the potential for fraud in fair value calculations and investigate when a divergence in practice might occur.
Keep your knowledge of accounting principles up to date with this best-selling course, which reviews all pronouncements issued from 2012 up through the program date. It will provide you with a comprehensive understanding of the pronouncements as they relate to you and your clients, as well as information on significant pronouncements that are likely to be issued in the near future. Plus, it will help you determine when it is appropriate to apply these guidelines to transactions and arrangements that have similar characteristics but for which there is no authoritative guidance. Course material includes summaries of each of the pronouncements, including the reasons behind their issuance and their effects on financial reporting.
Objectives • Explore the updated definition of fair value. • Learn exceptions to the exit concept of fair value. • Understand the presentation and disclosure of fair value. • Learn about the potential for fraud. Major Topics • Divergence in presentation of fair value • Ever-changing guidance • Hard-to-value investments and other fair value issues • IFRS fair value Field of Interest Code: Accounting CPE Hours: 8 | AA: 8 | FR: 4 | GT: 8 Level: Update Designed for: CPAs and financial professionals who want to enhance their knowledge of fair value. Author/Instructor: Suzan C. Dennis, CPA, MSA
Objectives • Understand the changes to each major subject in the FASB Accounting Standards Codification as a result of Accounting Standard Updates (ASUs) issued from 2012 up to the date of the program. • Determine when it is appropriate to apply alternatives available as a result of pronouncements of the FASB’s Private Company Council (PCC). • Be able to apply ASU changes to client financial statements. • Understand changes to areas such as accounting for receivables, business combinations, impairments, and fair value. • Be prepared for upcoming changes to accounting for leases and revenue recognition. Major Topics • Business combinations and consolidations • Statement of cash flows of not-for-profit entities • Impairments of goodwill and other intangibles • Accounting for health care entities • Fair value measurements and disclosures Field of Interest Code: Accounting CPE Hours: 8 | AA: 8 Level: Update Designed for: Accountants responsible for making certain that financial statements are prepared in conformity with GAAP. This includes auditors and internal accountants who are part of the financial reporting process. Author/Instructor: Mark E. Dauberman, CPA
COURSES // 9
Key Ratio Analysis (RATIO)
Staff Training for Accounting and Auditing
Many financial professionals, including CPAs, bankers, CFOs, controllers, financial analysts and credit underwriters use financial ratios but do not leverage them for maximum effectiveness. Learn a five-step key financial ratio analysis model that will help clarify and unify this often confusing subject. The five steps are liquidity, activity, leverage, operating performance and cash flow analysis. Additionally, the lendable real estate equity model will be presented. Case studies will illustrate key concepts and help you apply the models outlined in this course.
Select from one of the three-day programs in this four-part series designed to train your staff through the various levels of their career.
Objectives • Learn the five-step key ratio analysis model. • Explore in-depth cash flow analysis applications. • Calculate the lendable real estate equity model. • Understand industry comparisons and software applications. • Review the Z-score bankruptcy prediction and sustainable growth models. Major Topics • The five-step key financial ratio analysis model (liquidity, activity, leverage, operating performance and cash flow analysis) • Cash flow applications, including traditional cash basis, personal and real estate • Lendable real estate equity model • Illustration of the five-step model through case studies • Key ratio software applications • Z-score (bankruptcy prediction) and sustainable growth models Field of Interest Code: Accounting CPE Hours: 8 | AA: 8 Level: Intermediate Designed for: CPAs, CFOs, controllers, financial managers, auditors, financial analysts and practitioners who provide accounting, tax or consulting services to businesses. Author/Instructor: David L. Osburn, MBA
Level 1 – Basic Designed for first-year staff with at least two weeks of experience on audits, compilations or reviews. Major Topics • Role of New Staff • Working Paper Techniques • Analytical Procedures • Compilation and Review Services • Tax Recognition and Research Techniques • Understanding Audit Objectives • Auditing/Reviewing Selected Accounts Level 2 - Semi-Senior Designed for first-or second-year staff who are in charge of compilation and review engagements or who have responsibility for major audit sections. Major Topics • Satisfying Client and CPA Firm Needs • Applying Analytical Procedures • Conducting Small Audits • Performing Review Service Engagements • Improving Corporate Tax Knowledge • Drafting Financial Statements and Footnotes Level 3 – Beginning-in-charge Designed for second- or third-year year staff members who have been in charge of at least two audits or review engagements, or who plan to have in-charge responsibilities within the next six months. Major Topics • What is Expected of the In–Charge • Planning Engagements • Assessing Risk and Materiality • Non–statistical Audit Sampling • Meeting Client Needs • Completing Engagements • Reviewing Assistants’ Working Papers • Supervision Level 4 - Supervisory Designed for staff members with three or more years of experience in public accounting who have had significant responsibility in dealing with assistants, clients and partners in auditing and accounting, tax or business consulting service areas. Major Topics • What is Expected of the Supervisor • Improving Communication Skills • Human Motivation • Supervising, Evaluating and Counseling Assistants • Helping Your CPA Firm Grow • Business Consulting Services • Time Management Techniques Field of Interest Code: Accounting CPE Hours: 24 | AA: 24 (note: Level 4 does not qualify for AA) Author: AHI Associates Instructor: Ronald C. Evensen, CPA, MS
2014–15 ONSITE LEARNING COURSE CATALOG // ACCOUNTING AND FINANCIAL STATEMENTS / AUDITING
HOT TOPIC
4 HOURS
Statement of Cash Flows: Preparation and Analysis Workshop (SOCF)
The New Group Audit Standard: Understanding the Essentials (GPAU)
The statement of cash flows is a critical component to a company’s complete set of financial statements. It enables users to see a business’ cash inflows and outflows as they relate to operating, investing and financing activities and evaluate liquidity and quality of earnings. This interactive workshop covers the proper preparation of the statement along with analysis techniques. Case studies, real-life examples and sample documentation will reinforce major concepts and help participants apply analysis techniques discussed.
The Auditing Standards Board’s Clarity Standards contain major revisions to the area of utilizing the work of other auditors. The clarified SAS is significantly broader in scope than previous AU Section 543 Part of the Audit Performed Other Independent Auditors.
A laptop is required for this workshop. Objectives • Learn how to prepare a cash flow statement. • Differentiate between operating, investing and financing cash flows. • Comply with the cash flow statement reporting requirements included in GAAP Codification Topic No. 230 • Effectively analyze the cash flow statement when assessing entity performance. Major Topics • Major provisions of GAAP Codification Topic No. 230 • Significant statement classification issues • Direct and indirect methods of reporting operating cash flows • Work paper techniques for preparing the statement • Useful cash flow ratios • Bankruptcy prediction using the statement of cash flows Field of Interest Code: Accounting CPE Hours: 8 | AA: 8 Level: Intermediate Designed for:
This new standard introduces many new terms that need to be understood to realize its far-reaching implications. Many firms may not be aware of all the audit situations where this standard will be applicable. For example, it is possible that engagement teams from the firm auditing a component will fall under these standards. This course will provide the in-depth understanding necessary for firm to comply with the performance, communication and documentation requirements of this new standard. Objectives • Familiarize the practitioner with changes. • Understand new terminology embodied in the group audit standard. • Implementation of the procedural and documentation requirements related to group audits. • Emphasize unchanged but often problematic issues related to using the work of others. Major Topics • New terminology and related definitions. • Required communications between the group and component auditors. • Applying materiality in a group audit. • Mandatory involvement of the group auditor in the risk assessment and other work of the component auditor. • Audit interpretations issued subsequent to the original issuance of the standard.
CPAs and financial professionals responsible for the preparation and analysis of the statement of cash flows, as well as those who audit, review or compile such statements or consult with clients on cash flow matters.
Field of Interest Code: Auditing
Author/Instructor: Summer M. Taylor, CPA
Designed for:
CPE Hours: 4 | AA: 4 Level: Overview Auditors responsible for planning and conducting audits in accordance with generally accepted auditing standards. Author/Instructor: Thomas E. Noce, CPA, CFE
Combine this course with other four-hour programs taught by Thomas Noce such as Fraud: Essential Audit Tools and Techniques (p. 16) or Mitigating Fraud Engagement Risk for Nonaudit Practitioners (p. 18).
// 11
ADDITIONAL AA COURSES
Accounting Analysis Basics Accounting and Auditing with Excel Accounting for Income Taxes: Introduction to the Essentials Audit Standards Update: Clarity Standards Overview Basic Accounting and Auditing for the Construction Industry Cash and Credit Management Accounting and Auditing Issues for the Construction Industry Dealing with Venture Capitalists Effective Work Paper Techniques: Building a Better Work Paper Enterprise Risk Management for Small and Medium-Sized Enterprises FIN 48: Accounting for Uncertain Tax Positions (ASC Topic 740.10) Financial Reporting: Your Guide to Reading IFRS Annual Financial Reports Financial Statement Analysis: Unraveling the Mystery For Management Hedging Risks of Foreign Operations and Currency Transactions Leases: Past, Present and Future Motion Picture and Television Industry: Accounting & Auditing Overview Other Comprehensive Basis of Accounting Fundamentals The Private Company Council (PCC) In Focus: Accounting Update for Nonpublic Entities Private Company Reporting Options: More Changes Ahead Reformatted Financial Statements 2014: Is the Endgame in Sight? Revenue: Past, Present and Future Review of Significant Accounting Topics The New Compilation and Review Standards U.S. GAAP and IFRS Update
2014–15 ONSITE LEARNING COURSE CATALOG // ETHICS
BEST-SELLER
BEST-SELLER
Ethical Responsibilities for CPAs (ETRC4)
Everyday Ethics: Doing Well by Doing Good: Ethics and Regulatory Review (FERB6)
The State Board of Accountancy has the authority to hold CPAs responsible for all professional standards, whether they are specifically enacted into California law or not. The purpose of this class is to familiarize the participants with many of the ethical and legal requirements that CPAs are expected to be knowledgeable about and to comply with. This class is specifically designed to meet the annual four-hour non-regulatory ethics requirement, which CPAs are required to fulfill to renew their licenses. Taken in conjunction with What Every CPA Should Know about Fraud (WECF4), it enables participants to obtain two of the specific requirements to renew their CPA licenses in a single day. Objective • To educate the participant about the major professional standards that they are expected to adhere to in the course of their practice. Major Topics • AICPA Code of Professional Conduct • PCOAB Ethical Standards • Ethical Requirements of the Sarbanes Oxley Act • Foreign Corrupt Practices Act • IRS Circular 230 for Tax Practitioners Field of Interest Code: Regulatory Ethics CPE Hours: 4 | ET: 4 Level: Intermediate Designed For: All accountants and CPAs in public practice, private industry, governmental and nonprofit agencies. Author/Instructor: Dana A. Basney, CPA, ABV, CVA, CIRA, CFE, CFF, MSBA
Combine this course with the four-hour fraud program taught by Dana Basney What Every CPA Should Know about Fraud (p. 19) to fulfill your staff’s fraud and ethics requirements in one day.
Ethics isn’t about following the rules, it’s about making the correct choice when faced with decisions that are difficult, inconvenient or influenced peer pressure. This course will help CPAs move the profession forward by actively understanding why people commit fraud; how to minimize threats while maximizing safeguards; and how to better integrate ethical principles, behaviors and choices into daily activities. Sustain your professional obligation and uphold a superior reputation by understanding the human side of behavioral choices. This program is designed to meet both the four-hour ethics and twohour regulatory review education requirements. Objectives • Gain an appreciation of what moral philosophers thought about enterprise and ethics. • Appreciate what it means to be a professional and the requirements of the profession. • Review the California Accountancy Act and California Board of Accountancy regulations. • Review historic and recent CBA disciplinary actions, including highlights of misconduct. • Review the AICPA Code of Professional Conduct Institute of Management Accountants Standards of Ethical Conduct and T.D. Circular 230. Major Topics • Review the AICPA Code of Professional Conduct Institute of Management Accountants Standards of Ethical Conduct and T.D. Circular 230 • Implications resulting from our profession’s real and perceived mistakes • Recent, relevant cases on ethics and professional responsibility for the accounting profession • Areas to which the partner should pay particular attention • Researching ethical solutions in the various codes, acts and regulations • Ethical developments and review of recent cases, rulings and interpretations • California Accountancy Act specific to the practice of public accountancy in California • California Accountancy Act Articles 1.5, 3.5, 4, 5.5, 6, 6.5 and 7 • California Board of Accountancy regulations specific to the practice of public accountancy in California • Accountancy Regulations Articles 1, 9, 12, 12.5 and 13 • Historic and recent CBA disciplinary actions, including highlights of the misconduct that led to licensees being disciplined Field of Interest Code: Regulatory Ethics CPE Hours: 6 | ET: 4 | RR: 2 | CTEC-ET: 4 Level: Update Designed for: Any CPA in public or private practice in search of a dynamic, thought-provoking ethics course. Author: VeraSage Institute Instructor: Daniel D. Morris, CPA
COURSES // 13
The Ethics of Tax Practice Conduct for California CPAs (TSNDE4) Meet your four-hour ethics requirement while addressing significant changes in the statutory and regulatory standards governing you as a tax practitioner. This course explores the myriad rules that govern the professional conduct of CPAs in tax practice, including the CPA’s responsibilities with respect to advising clients on tax positions and related penalty avoidance. This course is particularly appropriate for tax staff professionals of firms with a separate tax department. Portions of the course materials are reprinted or adapted from Kip Dellinger’s book “Practical Guide to Federal Tax Practice Standards,” published by CCH. Objectives • Build your knowledge of the federal and California rules governing the conduct of tax practitioners, including Circular 230, the AICPA Statements on Standards for Tax Services (SSTSs) and pertinent statutory requirements. • Understand the similarities of the AICPA SSTSs and Circular 230 • Unravel the new federal preparer penalty and disclosure provisions with regard to tax positions. Major Topics • Federal and California statutory and regulatory standards governing tax preparers, including the preparer penalty provisions • Circular 230 • AICPA Statements on Standards for Tax Services (SSTSs) Field of Interest Code: Regulatory Ethics CPA Hours: 4 | ET: 4 | EA: 4 Level: Intermediate Designed for: CPAs, attorneys and enrolled agents who want to understand the rules that govern tax practice conduct. Author: Arthur J. (Kip) Dellinger, CPA
This course meets California’s four-hour ethics requirement. A two-hour regulatory review program may also be added to fulfill your staff’s ethics and regulatory review requirements.
“RBZ is a fan of onsite continuing education. The obvious reason is the flexibility and comprehensive course offerings it gives us, and the competitive cost per person. We are always searching for the best way to leverage our investment in time and training budget. “The benefits of onsite education are numerous, and RBZ has experienced many. What stands out, though, is the team building that occurs by having everyone together in courses of mutual importance. The classes are small, intimate and enjoyable—we’re in the comfort of our own office, learning at times that work best for us. “In just a few years, CalCPA has really evolved into a ‘training partner’ for our firm. Through their support, we have efficient course scheduling and are able to seek out instructional resources for specific topics we want addressed. With the support of CalCPA’s Onsite Education, we developed a first-class program that will be replicated year after year.” Charles Osaki, CPA Principal RBZ, LLP
Additional Ethics Programs: Accountancy Laws, Ethics, Taxes and Financial Reporting Review: Ethics and Regulatory Review Avoiding Ethical Pitfalls in Your Federal and State Tax Practice: Ethics Preserving Independence: Ethical Considerations When Performing Nonattest Services: Ethics
ADDITIONAL FRAUD PROGRAMS: Accounting Fraud Advanced Fraud Case Study Part 2 California Fraud Case Studies
Additional Governmental Accounting and Auditing Programs: Administrative Rules for Federal Grants HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and A-133
conferences and CE Weeks Build your knowledge and your professional network at conferences and CE Weeks. You and your staff will be treated like CPE VIPs with expert instructors, networking luncheons, free Wi-Fi, discounted accomodations and more. January
June
October
Advanced Estate Planning Institute
Estate and Trust Conference Entertainment Industry Conference
San Luis Obispo CE Week Accounting and Auditing Conference Real Estate Conference
April Womens Leadership Forum Health Care Industry Conference Employee Benefit Plans Conference
July San Diego CE Week Emerging Leaders Certificate Program
May
August
School Districts Conference Governmental Accounting and Auditing Conference Not-for-Profit Organizations Conference
Monterey CE Week
September Farmers Tax and Accounting Conference
www.calcpa.org/RSVP
November Family Law Conference Tax Update and Planning Conference
December Palm Springs CE Week Wine Industry Conference Wine Industry Fundamentals: Tax, Accounting & Auditing Startup Conference International Tax and Business Conference
2014–2015 ONSITE LEARNING COURSE CATALOG // FRAUD
COURSES // 15
4 HOURS
Advanced Fraud Case Study (AFCSA)
California Frauds, Scams and Scandals (FACLP2)
Fraud strikes at any size or type of business. This course provides the attendee with real-life case studies taken from the files of top fraud investigators. It’s designed to be an interactive class that covers topics such as arson, real estate and financial fraud.
Promising large returns with seemingly no risk, high-yielding investment scams have raised millions of dollars from unsuspecting investors. In reality, many of these too-good-to-be-true investments turned out to be nothing more than Ponzi schemes. To protect your investments and your clients’ interests, you need to be aware of the constantly updated and recycled scams, as well as emerging e-fraud variations and how to both prevent and report them.
Objectives • Gain an understanding of how frauds are perpetrated. • Understand the economic impact of fraud. • Develop procedures to reduce risk of fraud. • Increase sensitivity to situations that are susceptible to fraud. • Find out what to do if you find a fraud. • Update your fraud terminology. • Learn about arson and fraud. • Examine real-life case studies. Major Topics • Update your fraud terminology • Arson and fraud • Examine real-life case studies
Objectives • Gain an overview of the California fraud landscape. • Learn why clients fall for pyramid schemes. • Review common induction techniques for scams. • Learn resources for data on California state and local governmental fraud. • Understand how to protect your clients from fraud scams.
CPE Hours: 4 | AA: 4 | FR: 4
Major Topics • Top 10 SEC complaints • High-yield investment schemes • California reporting mechanisms • E-frauds • Scam alert
Level: Advanced
Field of Interest Code: Auditing
Designed for:
CPE Hours: 8 | AA: 8 | FR: 4 | GT: 8
Accountants who are experienced in auditing and wish to explore advanced fraud topics.
Level: Overview
Field of Interest Code: Auditing
Author/Instructor: Stephen N. Getzoff, CPA, CFE, CFF, CICA
Designed for: CPAs and other financial professionals looking to prevent, discover or understand fraud and the intertwined accounting issues. Author/Instructor: Suzan C. Dennis, CPA, MSA
2014–2015 ONSITE LEARNING COURSE CATALOG // FRAUD
4 HOURS
Common Frauds and the Internal Controls Designed to Prevent and Detect Them (FRAR)
Fraud: Essential Audit Tools and Techniques (FRAUD4)
The largest fraud schemes often involve fraudulent financial reporting and, among the most common, is the fraudulent reporting of revenues. The majority of fraud incidents involve the misappropriation of assets, and cash is the most frequently stolen asset. This course is designed to help you understand the characteristics of effective internal controls in relation to revenue, accounts receivable and cash receipts. You will learn which fraud is most often committed in relation to these items, the types of controls that may be effective for prevention and the signs that would indicate that they occurred, enabling detection. In addition, you will review the process for understanding and documenting existing controls related to revenues, accounts receivable and cash receipts; how to identify weaknesses; and how to develop internal controls that may mitigate those weaknesses.
When an audit is performed in accordance with generally accepted auditing standards, a high level of assurance is provided that the financial statements are free of material misstatement whether caused by fraud or error.
Objectives • Review various fraud schemes involving revenues, accounts receivable and cash receipts. • Understand and document an understanding of internal controls related to revenues, accounts receivable and cash receipts. • Identify deficiencies in internal controls related to revenues, accounts receivable and cash receipts. • Learn approaches to developing internal controls that may be effective at mitigating identified deficiencies.
Objectives • Understand and implement the concepts embodied in the AICPA audit risk assessment model as it pertains to fraud. • Learn how the Clarity Standards have confirmed integration of fraud into the risk assessment requirements. • Understand the concept of the fraud triangle. • Differentiate between the auditor’s required response for material versus immaterial fraud risks. • Identification of and responses to identified risks of material misstatement due to fraud.
Major Topics • Fraud schemes involving revenues, accounts receivable and cash receipts • Effective internal controls over revenues, accounts receivable and cash receipts • Identifying deficiencies in internal controls over revenues, accounts receivable and cash receipts
Fraud is pervasive. It’s not only critical that auditors familiarize themselves with procedural, performance and documentation standards related to fraud, but they also must be prepared to respond appropriately when fraud is uncovered. This course will provide an overview of the general concepts of risk assessment required by professional standards. In addition, the course will include an in-depth review discussion of the specific, fraud-related requirements—including changes resulting from the AICPA Audit Standards Board’s Clarity Standards.
Level: Intermediate
Major Topics • Integrating fraud into the audit risk assessment model • Assessing and responding to the risk of material misstatement resulting from fraud • What to do when your engagement team stumbles upon fraud while conducting an engagement • Evaluating the appropriateness of internal controls design specifically as it relates to fraud prevention and detection • Documentation methods related to fraud risk assessments and corresponding response
Designed for:
Field of Interest Code: Auditing
Field of Interest Code: Auditing CPE Hours: 8 | AA: 8 | FR: 4
CPAs who perform audits or provide services related to internal controls. Author/Instructor: Mark E. Dauberman, CPA
CPE Hours: 4 | AA: 4 | FR: 4 Level: Intermediate Designed for: Individuals responsible for planning or conducting audit engagements, and practitioners and those in industry desiring to understand current fraud-related audit requirements. Author/Instructor: Thomas E. Noce, CPA, CFE
Combine this course with other four-hour programs taught by Thomas Noce such as The New Group Audit Standard: Understanding the Essentials (p. 10) or Mitigating Fraud Engagement Risk for Nonaudit Practitioners. (p. 18)
COURSES // 17
4 HOURS
Fraud: Practical Approaches to Prevention & Detection (FPAPD)
Internal Control: Your No. 1 Defense Against Errors and Fraud (INCF)
Regardless of the level of service we provide for our clients, they and the public believe that one of our responsibilities is the detection of fraud. If you’re associated with financial statements, that potential responsibility is often perceived as being even greater. In addition, every entity—including your CPA firms, the companies you work for and your clients—may all be potential victims of fraud. Unfortunately, fraud is neither prevented by conventional internal controls, nor is it detected by conventional audit procedures. Other than the casual perpetrator, most fraud is committed by desperate individuals who will go out of their way to cover their tracks. Yet fraud is largely preventable and can be more readily detected when less conventional approaches are applied. This course explores fraud from the perspective of those who commit it, what motivates the perpetrator and how internal controls can be designed to address the motivation. In addition, the course addresses the signs of fraud and means by which the risk of fraud— particularly fraudulent misstatement of financial information—can be more narrowly identified for the purpose of using more focused control activities and audit procedures.
The process of critically evaluating and developing an effective system of controls to prevent fraud is often confusing and misunderstood. In this course, a risk-based evaluation and design of an organization’s number-one defense against errors and fraud—a well-designed and properly functioning internal control system—will be established. Whether you’re management or an auditor, this approach will be beneficial.
Objectives • Understand the nature and characteristics of fraud and how they are significant in relation to its prevention and detection. • Learn about the characteristics likely to make internal controls more effective at fraud prevention. • Identify where controls might be needed and how to develop controls that have a greater chance at being effective at prevention. • Establish a methodology for develop audit procedures that more directly address areas representing greater risk. Major Topics • The nature and characteristics of fraud • The profile of the fraud perpetrator • Internal controls effective for fraud prevention • Effective techniques for fraud detection
Objectives • Understand the importance of internal control in preventing and detecting errors and fraud. • Pinpoint the most critical elements of a sound system of internal control. • Identify the types of fraud being perpetrated against individuals and entities. • Learn to understand and document internal control systems. • Understand the CPA’s responsibilities related to internal control and fraud in an audit engagement. • Review the COSO Internal Control Framework. Major Topics • Internal control concepts • Review typical controls of the primary components of most accounting • Internal control in a small organization • Documenting internal control systems • Auditor responsibilities with respect to internal control documentation and evaluation • COSO Internal Control Framework Field of Interest Code: Auditing CPE Hours: 8 | AA: 8 | FR: 4 | GT: 8 Level: Intermediate Designed for:
CPE Hours: 4 | AA: 4 | FR: 4
CPAs in public practice, private industry and government, who are responsible for designing, evaluating or auditing a system of internal control, as well as those who want to better prevent fraud before a material fraud has occurred.
Level: Intermediate
Author/Instructor: Thomas E. Noce, CPA, CFE
Field of Interest Code: Auditing
Designed for: All CPAs associated with financial information and wish to be part of the solution to the ever-growing fraud problem. Author/Instructor: Mark E. Dauberman, CPA
2014–2015 ONSITE LEARNING COURSE CATALOG // FRAUD
4 HOURS
Mitigating Fraud Engagement Risk for Nonaudit Practitioners (NAUD4) Fraud is not just for auditors anymore. Learn how our professional standards relate to your responsibility to detect fraud when preparing all levels of financial statements. Maximize your value to your client by learning effective loss prevention strategies based on actual war stories. In this course, you also will understand how to identify potential problem areas, develop a prevention plan and use the necessary tools and techniques needed to minimize the loss of any client initiated legal claims. Objectives • Understand the professional standards related to fraud. • Recognize the red flags of fraud and understand the fraud triangle. • Discover how to best detect, prevent and respond to fraud. • Review current types of fraud risks facing nonaudit practitioners. • Review available loss prevention tools. Major Topics • Common fraudulent financial reporting and asset misappropriation schemes • Dealing with the ongoing expectation gap: professional standards vs. jury expectations • Simple but effective controls that will guard your clients’ assets from misappropriation and how to communicate these controls • Review available loss prevention tools and techniques that can help minimize a practitioner’s risk of loss from client-initiated negligence claims
Stopping Fraud in Your Business (SFYB) Prepare for the unthinkable: fraud in your workplace. Review the fundamentals of fraudulent activity and then learn procedures that will help you reduce the risk of fraud in your operations. You also will review several case studies illustrating how real-world frauds are perpetrated, how to recognize them and prevent them spreading. Objectives • Master the language of fraud. • Learn how to do background checks before you hire the wrong person. • Recognize the signs of fraud and prevent its spread in your organization. • Find out what to do if you uncover a fraud in your business. Major Topics • Consumer frauds • The latest fraud trends • Procedures to reduce the risk of fraud in your operations • The latest updates on hot websites • Stopping the perfect fraud dead in its tracks Field of Interest Code: Auditing CPE Hours: 8 | AA: 8 | FR: 4 | MCLE: 6.5 Level: Intermediate Designed for:
Field of Interest Code: Auditing
Controllers, senior financial professionals, internal auditors and business owners.
CPE Hours: 4 | AA: 4 | FR: 4
Author/Instructor: Stephen N. Getzoff, CPA, CFE, CFF, CICA
Level: Intermediate Designed for: CPAs and others interested in gaining insight into fraud and investigating the resources available to mitigate the risks that fraud presents. Author/Instructor: Thomas E. Noce, CPA, CFE
Combine this course with other four-hour programs taught by Thomas Noce such as The New Group Audit Standard: Understanding the Essentials (p. 10) or Fraud: Essential Audit Tools and Techniques. (p. 16)
COURSES // 19
BEST-SELLER
4 HOURS
What Every CPA Should Know About Fraud (WECF4) This four-hour class is designed to help accountants in public, private and governmental accounting detect and prevent fraud. This class is specifically designed to meet the annual four-hour fraud requirement that CPAs are required to fulfill to renew their licenses. Taken in conjunction with The Ethical Responsibilities for CPAs (ETRC4), it enables participants to obtain two of the specific requirements to renew their CPA Licenses in a single day. Objectives • To increase the participant’s knowledge of how fraud is typically perpetrated • To focus the participant on the high risk areas where fraud is most prevalent • To learn to profile the fraudsters in an organization— what motivates them and how they typically behave • To give the participant the tools they need to discover fraud • To teach the participants or respond to fraud it once it has been discovered Major Topics • Financial statement fraud—where and how is it most likely to • Embezzlement—where and how is it most likely to occur • How fraud is typically detected and how to increase your chances of detecting it • Profiling the perpetrators—the human aspect of fraud • Tips and techniques for detecting fraud • What to do when you discover a client has committed fraud to avoid being a victim of the client’s fraud • How to prevent fraud in your client organization Field of Interest Code: Auditing CPE Hours: 4 | AA: 4 | FR: 4 Level: Intermediate Designed for: All CPAs in public accounting, business and government, including internal auditors and financial executives who are responsible for fraud detection and prevention.
Forensic Services Section Benefits of Membership As a Forensic Services Section member, your added benefits include: • Networking with other forensic services professionals, including attorneys and judges; • Breaking news in litigation and forensic consulting practice areas; • Leading-edge, practice specific articles in the Witness Chair; • Speakers, case reviews and practice development tools; and • Effective representation regarding credentials, practice aids, statements on responsibilities, precedent-setting legal cases and other professional guidance.
Author/Instructor: Dana A. Basney, CPA, ABV, CVA, CIRA, CFE, CFF, MSBA
Combine this course with four-hour ethics program taught by Dana Basney Ethical Responsibilities for CPAs (p. 12) to fulfill your staff’s fraud and ethics requirements in one day.
calcpa.org/FSS
2014–2015 ONSITE LEARNING COURSE CATALOG //GOVERNMENTAL ACCOUNTING AND AUDITING
HOT TOPIC
A-133 Audits: A Case Study Approach (AACS) This case study will teach you how to perform A-133 audits efficiently and effectively, from planning to reporting, and focus on areas where there are common deficiencies and how to avoid them. Included will be a working sample of information that management is responsible for and tools to assist them with compliance. You’ll also review internal control over federal awards, financial reporting under A-133 and what may cause (and what does not cause) a finding. Objectives Understand the A-133 audit process, including: • Guidance to assist auditees in preparing for and working through the audits; • Required procedures and documentation; • Common deficiencies in these audits and how to avoid them; and • Recent changes affecting these audits. Major Topics • Standards overview • Auditing the SEFA • Determining major programs • Identifying direct and material compliance requirements • Testing internal control and compliance • Sampling considerations • Considering results of testing • Elements of a finding • Reporting under A-133 Field of Interest Code: Auditing (Governmental) CPE Hours: 8 | AA: 8 | GT: 8 | YB: 8 Level: Intermediate Designed for: Auditors and financial professionals involved in A-133 audits. Author/Instructor: Laura G. Lindal, CPA
Avoiding Problems in Conducting Single Audits (APSA) The Single Audit Act of 1984 requires a single, organization-wide financial and compliance audit for state and local governments. The goal is to improve auditing and management of federal funds provided to state and local governments. Understand the needs of auditors who conduct single audits and explore issues, such as grant documents, federal expectations and compliance, that both federal inspectors general and the AICPA raise during single audit reviews. Objectives • Understand and implement the COSO framework. • Comprehend the rules that govern federal grants. • Explore concerns about single audits. Major Topics • Concerns about single audits • Grant documents • Catalog of Federal Domestic Assistance • Federal expectations for audit findings • Compliance supplement Field of Interest Code: Auditing (Governmental) CPE Hours: 8 | AA: 8 | GT: 8 | YB: 8 Level: Intermediate Designed for: CPAs and auditors who conduct single audits. Author/Instructor: Sefton Boyars, CPA, CGFM, CFS
COURSES // 21
Cost Principles for State and Local Governments and Nonprofit Organizations (CPAG)
Basic Concepts of Governmental Accounting, Financial Reporting and Auditing (GAFRA)
With few exceptions, entities that receive federal government grants must follow certain cost principles, which, if violated, can result in unallowable expenditures that culminate in large refunds to the granting agency. Understand the cost principles applicable to state and local governments and nonprofit organizations and learn how to ensure that costs claimed against government grants are allowable and can be reimbursed. This course will allow you to help your clients avoid the financial cost—and unpleasant publicity—related to significant disallowance.
This course provides an authoritative primer on governmental accounting and financial reporting. You’ll review and discuss auditing and internal controls, as well as governmental fund accounting and budgeting. The class includes GASB pronouncement updates and examines GASB 34 in detail. A review of current, published financial reports will strengthen your learning, and a case study on a California city will emphasize the governmental accounting and financial reporting model.
Note: These cost principles do not cover colleges, universities and hospitals. We will discuss the concepts of allocation, but not the development of indirect cost rates. Objectives • Understand the criteria for determining whether a cost is allowable. • Explain the permissibility of specific items of cost. • Review how to adequately document the costs claimed. Major Topics • Structure of regulations governing grant programs • Rules of allowability • Permissibility of most cost categories • Documentation requirements • 2 CFR 225 (formerly OMB Circular A-87) • 2 CFR 230 (formerly OMB Circular A-122) Field of Interest Code: Auditing (Governmental) CPE Hours: 8 | AA: 8 | GT: 8 | YB: 8 Level: Basic Designed for:
Objectives • Understand the basics of governmental accounting. • Learn financial reporting, including Comprehensive Annual Financial Report. • Undertake a detailed review of GASB No. 34. • Obtain an understanding of governmental auditing, including internal controls. • Review the requirements for compliance audits. • Explore updated GASB pronouncements. • Review the differences between governmental and business accounting. Major Topics • Governmental environment, including cities, counties, special districts and other agencies • Fund accounting • Budgeting • Financial reporting in accordance with GASB 34 • Measurement focus and basis of accounting • Auditing of governments, including review and evaluation of internal controls • Update of AICPA and Generally Accepted Government Auditing Standards
Government grantees, government auditors and CPAs who conduct single audits.
Field of Interest Code: Accounting (Governmental)
Author/Instructor: Sefton Boyars, CPA, CGFM, CFS
Level: Basic
CPE Hours: 8 | AA: 8 | FR: 2 | GT: 8 | YB: 8 Designed for: Professionals who work in government and public accounting who need a basic understanding of governmental accounting and financial reporting. Author/Instructor: Gary M. Caporicci, CPA, CFF, CGFM
2014–2015 ONSITE LEARNING COURSE CATALOG // GOVERNMENTAL ACCOUNTING AND AUDITING
BEST-SELLER
HOT TOPIC
GASB Basic Financial Statements for State and Local Governments (GASB)
Pension Accounting and Financial Reporting: New Standards (PAFR)
The impact of GASB 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments, continues to reverberate in California. This course will build your understanding of GASB 34 and provide an update of GASB-related pronouncements, exposure drafts and future agenda items. You will review concepts from a California city’s Comprehensive Annual Financial Report, such as basic financial statement formats, reconciliation of government financial statements to the fund’s financial statements, note disclosures and infrastructure capital assets.
GASB’s Statement No. 67, Financial Reporting for Pension Plans, and Statement No. 68, Accounting and Financial Reporting for Pensions, replaced 17-year-old pension standards and made significant changes to accounting and financial reporting. One of these changes records and displays the net pension liability on the government agency’s Statement of Net Position. A must for auditors and financial staff of state and local governments, and those responsible for employee pension benefits, this course will cover expanded disclosure requirements, actuarial valuation requirements and more.
Objectives • Review and evaluate GASB 34. • Walk through GASB basic financial statements • Discuss key technical elements, plus analytical and statistical matters. • Review accounting, financial reporting and disclosures. • Review 2013 Survey of California Cities and Counties. • Explore GASB pronouncements, exposure drafts and future agenda items. • Review internal controls for government and determine audit risk assessments using the C&L Risk-Based Audit Approach, together with the COSO framework. • Discuss the government financial crisis by reviewing current U.S. bankrupt cities. • Review the new pension standards, GASB Nos. 67 and 68. • Walk through a California city’s Comprehensive Annual Financial Report.
Objectives
Major Topics • GASB Nos. 63 and 65, Financial Reporting of Deferred Outflow of Resources, Deferred Inflows of Resources and Net Position, and review implementation at a few government agencies • COSO for Smaller Governments process of evaluating internal controls and how this methodology may be applied to government agencies • GASB 34 • Financial crisis for state and local governments • Dissolution of California redevelopment agencies and formation of successor agencies. Field of Interest Code: Accounting (Governmental) CPE Hours: 8 | AA: 8 | FR: 2 | GT: 8 | YB: 8 Level: Advanced Designed for: CPAs who are responsible for financial reporting and serve government entities, including cities, counties, school districts and special districts, as well as government officials who have responsibility for preparing financial statements. Author/Instructor: Gary M. Caporicci, CPA, CFF, CGFM
For GASB Statement No. 67: • Comprehend the new pension standards. • Prepare and understand the financial statements for pension plans, including the Statement of Fiduciary Net Position and the Statement of Changes in Fiduciary Net Position. • Learn the actuarial valuation requirements, including the valuation date. • Identify the expanded disclosure requirements for the Notes to Financial Statements and Required Supplementary Information (RSI). • Walk through published financial statements and auditors’ reports of government pension plans. • For GASB Statement No. 68: • Discuss accounting-based, rather than funding-based pension accounting. • Account for and display the net pension liability in the financial statements. • Learn the actuarial valuation requirements, including the valuation date. • Follow the substantial changes in determining annual pension cost. • Identify the expanded disclosure requirements. • Walk through published financial statements and related disclosures, and auditors’ reports of government agencies. • Review Pre-implementation Pro-forma Financial Statements that include calculations and journal entries of the significant changes in the new standards. Major Topics • Financial reporting for government agencies and pension plans • Total pension liability and net pension liability • Expanded disclosure requirements • Published financial statements of a city and of a pension plan • Actuarial valuation requirements, including the Annual Required Contribution (ARC) Field of Interest Code: Accounting (Governmental) CPE Hours: 8 | AA: 8 | GT: 8 Level: Intermediate Designed for: Auditors and financial staff of state and local governments; finance professionals responsible for employee pension benefits. Author/Instructor: Gary M. Caporicci, CPA, CFF, CGFM
COURSES // 23
HOT TOPIC
The Supercircular: OMB’s Final Guidance on Federal Grants (SPFG) This program is designed to bring all parties involved in federal grants up to date on the changes that will occur next year when the “Supercircular” that OMB issued on Dec. 26, 2013, goes into effect. This issuance impacts all of the general requirements for federal grants. Those new rules will go into effect after Christmas 2014. All persons who deal with federal grants will need to be aware of and prepared for the coming changes. Major Topics • Grant administrative rules (when approval is needed for budget changes; the responsibility for equipment remaining when the grant ends, etc.) • The federal cost principles (the criteria for allowability; documentation requirements for salaries and wages, etc.) • The Single Audit requirements (changes in the threshold for Single Audits; the required attributes of an audit finding, etc.) Field of Interest Code: Auditing (Governmental) CPE Hours: 8 | AA: 8 | GT: 8 | YB: 8 Level: Intermediate Designed for:
“Our goal in utilizing Onsite Learning was to educate our younger staff and gain efficiencies in performing A-133 and 401(k) and 403(b) engagements while meeting the professional standards. Being the only firm in attendance provided our employees the freedom to ask questions and clarify audit steps specific to our engagements. The courses met our goals and have resulted in our making upgrades to our processes and templates.”
Government grantees, government auditors and those who conduct Single Audits. Author/Instructor: Sefton Boyars, CPA, CGFM
Jared Hein, CPA Director Lautze & Lautze
2014–15 ONSITE LEARNING COURSE CATALOG // MANAGEMENT MARKETING AND PRACTICE DEVELOPMENT
BESTSELLER
Business Writing for Accountants (BWA)
Leadership Fundamentals (LEDF)
No matter how good you are with numbers, you must prove the value of your work with words. This course covers how to plan, organize, format, write and revise written communications that are clear, efficient and effective. Examples and exercises will be drawn from the accounting profession.
While leadership has become a buzzword in the business word, its true meaning is often misunderstood. This dynamic course will provide attendees with expertise on cutting-edge leadership theories and also equip participants with practical application of the theory to real-life situations. Topics will cover personal, team and emerging leadership topics.
Objectives • Organize communications so that readers respond positively. • Write clear, straightforward sentences, no matter how difficult the material. • Format documents that will be easy to read. • Understand the keys to successful editing. • Learn the secrets of effective proofreading. Major Topics • Overcoming anxiety about writing • The Three Ps: Purpose, Person, Point • Organization • Formatting • Finding the essential sentence/ideal sentence length • Principles of good writing • Editing and proofreading
Objectives • Understand leadership essentials to improve performance. • Review one’s relationship to time, how it is being spent and how to manage it more effectively. • Understand the importance of personal responsibility for taking on one’s career. • Gain the essential tools for goal setting and create an action plan. • Review good, bad and ugly leadership behaviors and their impact. • Examine how who we are—gender, age and culture—impacts our relationship with leadership and authority.
Level: Overview
Major Topics • Leadership terminology, theory and practical application to improve individual and team performance • Overview of how personal responsibility for one’s career translates to thriving organizational performance • How to work more effectively with those who are different than you
Designed for:
Field of Interest Code: Communications
CPAs, candidates and others who need to communicate clearly.
CPE Hours: 8 (non-technical)
Author/Instructor: Elizabeth Danziger
Level: Basic
Field of Interest Code: Communications CPE Hours: 8 (non-technical)
Designed for: Accounting and finance professionals who want to take their personal or team leadership to the next level. Author/Instructor: Amber P. Setter, CPA, MSA
COURSES // 25
Managing Successful Teams (DETB) Course Overview Explore some of the most effective methods of delegating projects and building staff teams. Learn the best ways to empower your staff and increase your organization’s productivity. You will gain skills and tools that enable you to work smarter and boost your long-term managerial success. Objectives • Identify barriers to successful delegation and team building and learn how to overcome them. • Learn how to delegate and train so things stay delegated. • Understand how to build self-sufficient teams. • Discover how to get more time to get things done. Major Topics • Barriers to successful delegation and team building. • Training that works for accounting professionals. • How people work together. • Keys to developing a team that works well together. • Feedback as a tool for successful delegation. • How leadership styles influence success. Field of Interest Code: Personal Development CPE Hours: 8 (non-technical) Level: Intermediate Designed for: CPA managers who would like to develop more cohesive work groups, work environments or highly functioning teams. Author/Instructor: Alisa L. Hunt, CPA
Additional Management Marketing and Practice DevelopMENT Programs: Building A CPA Practice Business Plans That Work Clients For Life: Retain Your Top Clients To Maximize Business Growth Leadership Skills Training Marketing The CPA In Public Practice Negotiate For Success: Psychology Of Power Persuasion Organization, Outlook And Time Management
CalCPA Education Foundation
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calcpa.org/discount (800) 922 5272
2014–15 ONSITE LEARNING COURSE CATALOG // TAXATION
BEST-SELLER
Advanced Tax Planning Techniques (ASCOR)
California and Multistate Tax Update (CALST)
In this course you will learn creative, cutting-edge tax planning techniques used by leading tax professionals. You will survey a number of sophisticated and contemporary planning strategies drawing on various partnership, real estate, corporate, international, individual and estate tax rules.
Get the latest information on statutory changes, new rulings and new cases related to individuals, partnerships, estates and trusts and corporations. Learn how to apply new developments and avoid confusion with respect to federal changes to which California has not conformed. Review all significant rulings and cases that affect filing a tax return in California. Explore major tax developments in other states and local jurisdictions which are likely to affect your clients.
Additionally, the class will present common tax planning obstacles, including judicial doctrines and disclosure rules, and will focus on planning techniques and structures. Course materials will provide a comprehensive reference for many transaction types and will outline and diagram the discussed planning techniques and structures. Objectives • Learn advanced tax planning and structuring techniques. • Discover cutting-edge tools employed by practitioners in the corporate, partnership, real estate, foreign, estate planning and individual tax arenas. • Cement your knowledge of underlying substantive law and learn how to apply applicable laws to creative planning. • Understand applicable planning challenges and compliance rules. • Work on your ability to creatively approach tax planning problems. Major Topics • Specific strategies: captive insurance companies, defective grantor trusts, SCINs, personal residence trusts and converting corporations to LLCs • Planning techniques for exiting a partnership, including a discussion of dealing with deficit capital accounts • Using partnerships as a planning tool, including planning for mixing-bowl transactions, creative planning with 754 elections and basis strips • Advanced real estate strategies, including TIC exchanges and 1031 cash-outs, drops and swaps. • Advanced choice of entity considerations, including tax and nontax factors • Income and estate tax planning for high-net worth individuals, including SCINs, IDGTs, SCIN-IDGT combos, GRATs and QPRTs • Outbound international tax planning and taking advantage of the controlled foreign corporation rules • Inbound international tax planning for foreigners purchasing U.S. real estate and starting businesses Field of Interest Code: Taxes CPE Hours: 8 | CTEC-Fed: 8 | EA: 8 | MCLE: 6.5 | LS-EP: 6.5 LS-TX: 6.5 Level: Advanced Designed for: CPAs and tax attorneys who would like to gain an understanding of advanced planning techniques focusing on tax efficiency. Author/Instructor: Jacob Stein, Esq., J.D., LLM
Course materials include quick summaries of filing requirements in other states for easy reference. Formerly titled: California State Taxation: Corporate and Individual Update and Review Objectives • Learn how to apply statutory changes to your clients. • Review new rulings and cases that affect filing a tax return in California. • Understand how to assess the impact of federal changes to which California has not conformed. • Review major tax changes in other states which are likely to affect your clients. • Be able to identify state and local planning opportunities for your clients. Major Topics • Statutory changes • New rulings • New cases • Conformity issues Field of Interest Code: Taxes CPE Hours: 8 | CTEC-CA: 8 | MCLE: 6.5 | LS-TX: 6.5 Level: Update Designed for: CPAs, financial professionals and attorneys who work with state and local tax issues, primarily related to developments in California. Author/Instructor: Kathleen K. Wright, CPA, J.D., LLM
2014–2015 ONSITE LEARNING COURSE CATALOG // TAXATION
HOT TOPIC
Cost Capitalization from A to Z (CCAZ) Cost capitalization, which has undergone major changes in recent years, has a broad range of impacts for CPAs and corporate accountants. This course explores the new repair regulations effective Jan. 1, 2014, which include several taxpayer friendly safe harbors. These regulations cover the handling of materials and supplies, de minimis expensing and repairs versus improvements. Learn how to implement these rules by filing new annual elections or applying accounting method changes using Form 3115. Plus, investigate issues related to the computation of the IRC 263A adjustment required for all businesses with inventory. You will be the office expert on this complex and critical area of the law. Objectives • Understand the new repair regulations. • Review new exceptions that govern materials and supplies and de minimis expensing. • Learn about the difference between capitalized costs and deductible repairs. • Understand the intricacies of a IRC 263A (inventory cost capitalization) computations and adjustment. • Explore how the inventory cost capitalization rules interact with the new repair regulations. • Analyze how the new repair regulations will be applied on the California income tax return. • Understand when the change is made by an election versus a change of accounting method. Major Topics • New repair regulations issued by IRS under IRC 263, IRC 162 and IRC 168 • Review and update of regulations on inventory cost capitalization under IRC 263A
BEST-SELLER
Federal and California Tax Update for Individuals and Corporations (FDCTV) Get ready for tax season with this annual update covering new matters impacting individuals and business, including corporations and partnerships. Keep current with the latest California and federal tax developments for 2014 to better serve your tax clients. You will receive practical up-to-date information on new federal laws, regulations and rulings, as well as an update on tax reform activities of the U.S. Congress and President Obama. Objectives • Review key developments by Congress, Treasury, IRS and the courts, as well as state legislatures, agencies and courts. • Understand how the new laws and rulings will impact you and your tax clients. • Find out what’s on the horizon and how it will be likely to impact you and your clients. Major Topics • Individual • Businesses: including corporations and partnerships • Non-profit entities • Estates and trusts • Estate & gift taxation • Procedure and tax practice matters Field of Interest Code: Tax CPE Hours: 8.0 | MCLE: 6.5 | CTEC-Fed: 5.5 | CTEC-CA: 2.5 EA: 8 Level: Update Designed for:
Field of Interest Code: Taxes
CPAs, financial professionals, attorneys and others interested in the most current tax updates.
CPE Hours: 8 | CTEC-Fed: 8 | EA: 8 | MCLE: 6.5
Author/Instructor: Annette Nellen, CPA, J.D., Esq.
Level: Overview Designed for: CPAs and corporate accountants who are responsible for inventory and fixed asset accounting in specialized industries. Author/Instructor: Kathleen K. Wright, CPA, J.D., LLM
COURSES // 29
4 HOURS
4 HOURS
Form 990: The Basics (F990)
Form 990-PF: Private Foundation Basics (FPFB)
This course will provide tax practitioners with an overview of Form 990, including both the Core Form and Schedules A-G and I-R. If you’re preparing Form 990, you’ll need to be aware—and understand the implications—of issues beyond merely completing a return. In addition to discussing Form 990, this course will acquaint preparers with intermediate sanctions, direct and grassroots lobbying, as well as the “expenditures test,” “public support,” “quid pro quo” and the unrelated business income tax. This course will be beneficial for individuals preparing Form 990 for publicly supported charities, social welfare organizations, trade associations and labor unions. Practitioners also must be aware of federal, California or other state filing requirements for tax-exempt organizations—which includes Form 990-T, Exempt Organization Business Income Tax Return, and state charitable filings.
This course will provide tax practitioners with an overview of Form 990-PF, which includes discussing the differences between nonoperating and operating foundations. It is important that preparers understand the different private foundation excise taxes—including taxes on net investment income, self-dealing, failure to meet income distribution requirements, excess business holdings and taxable expenditures. This course will help preparers understand the significance of columns (a)-(d) in Part I of the form, as well as expense allocation in Part I, which includes allocation of indirect costs between net investment income and charitable expenses. There also will be an overview of the income distribution calculation. This course will cover expenditure responsibility requirements for foreign grants.
Objectives • Learn the significance of a complete Form 990. • Understand the significance of different types of lobbying activities and their implications for different types of tax-exempt organizations, and understand how much lobbying is too much for charitable organizations. • Understand the implications of Form 990, Schedule A Public Support • Learn the significance of intermediate sanctions rules, applicability and requirements for use of the safe harbor. • Understand the unrelated business income tax. • Learn the significance of donor benefit rules both for Form 990 and for receipting contributions to charitable organizations. Major Topics • Form 990 Core Form and Schedules A-G and I-R • Reporting lobbying for different types of tax-exempt organizations • Public Support • Implications of and rules for donor benefit reporting • Unrelated business income tax (UBIT) • State reporting Field of Interest Code: Taxes CPE Hours: 4 | MCLE: 3 Level: Basic Designed for: CPAs that work with exempt organizations and professionals working for exempt organizations who are responsible for filing Form 990. Author: Green Hasson Janks Instructors: Richard L. Ruvelson, J.D.; Lizbeth Nevarez, CPA
Objectives • Understand transactions where excise tax rules that are applicable to private foundations: • IRC Sec. 4940: Excise tax based on investment income • IRC Sec. 4941: Taxes on self-dealing • IRC Sec. 4942: Taxes on failure to distribute income • IRC Sec. 4943: Taxes on excess business holdings • IRC Sec. 4944: Taxes on investments which jeopardize charitable purposes • IRC Sec. 4945: Taxes on taxable expenditures • Differentiate which sections on the Form 990-PF are required only for private operating foundations. • Understand how the 1 percent vs. 2 percent excise tax on net investment income is determined. • Review the average fair market value calculation for cash and securities. • Understand the additional reporting requirements for foreign grant expenses. • Understand the unrelated business income tax. Major Topics • Excise taxes paid by private foundations • Calculating the fair market value of the foundation’s assets • Income distribution requirements • Transactions with disqualified persons • Foreign grant making • Unrelated business income tax Field of Interest Code: Taxes CPE Hours: 4 | MCLE: 3 Level: Basic Designed for: CPAs, attorneys and consultants who work with private foundation clients. Author: Green Hasson Janks Instructors: Richard L. Ruvelson, J.D.; Lizbeth Nevarez, CPA
2014–2015 ONSITE LEARNING COURSE CATALOG // TAXATION
BEST-SELLER
Fundamentals of 1031 Exchanges (T1031) This authoritative course covers critical aspects, common problem areas and strategies for successful Sec. 1031 exchanges, from deferred exchange rates to 1031 frameworks to partnership and TIC issues. Delve into a Form 8824 preparation exercise that includes replacement property adjusted basis computation and other details. Additionally, we’ll dedicate time to advanced 1031 exchange strategies. Bring your questions and be prepared to ratchet up your expertise. Objectives • Understand how to prepare IRS Form 8824. • Learn 1031 exchange mathematics, including napkin test, boot and adjusted basis. • Spot conceptual issues in 1031 exchanges. • Review advanced concepts, such as improvement exchanges, reverse exchanges, nonsafe harbor exchanges and “drop-and-swap.” • Explore ethics and client counseling issues. • Discuss how to evaluate and counsel clients about risk. Major Topics • Statutory framework for 1031 exchanges • Characterization of business and investment property • Deferred exchange rules and techniques • Exchange mathematics: boot, gain and basis • Reporting for failed exchanges (over two tax periods) • Improvement exchanges • Reverse exchanges • Nonsafe harbor exchanges • Partnership and TIC issues: IRC Sec. 761
LLCs and Partnerships: Review of Selected Topics (LPWS) Tax practitioners have long grappled with understanding the rules contained in Subchapter K statutes and regulations. It’s time to grapple no longer. This course reviews key code sections, including partnership/LLC formation, basis adjustments and income/loss allocations, and the applications you need to effectively prepare partnership tax returns. Additionally, you’ll uncover important planning opportunities by analyzing key regulations. Objectives • Understand tax laws related to selected Subchapter K code sections. • Review key Subchapter K elements, including formations, income allocations, allocations of debt, basis and its relation to the at-risk rules, distributions and optional (and mandatory) basis adjustments. • Develop confidence when preparing Schedules K-1. Major Topics • Partnership/LLC formations (IRC Sec. 721) • Contributions of appreciated property (IRC Sec. 704(c)) • Income/loss allocations (IRC Sec. 704(b)) • Partnership/LLC distributions of property (IRC Secs. 731-732) • Partner’s tax basis and the impact of debt allocations (IRC Sec. 752) • Optional basis adjustments (IRC Sec. 754) Field of Interest Code: Taxes CPE Hours: 8 | CTEC-Fed: 6 | MCLE: 6.5 | LS-TX: 6.5 Level: Intermediate
Field of Interest Code: Taxes
Designed for:
CPE Hours: 8 | ET: 2 | CTEC-Fed: 6 | EA: 8 | MCLE: 6.5 LS-TX: 6.5
CPAs and attorneys who want to become more familiar with selected partnership/LLC code sections or who want to learn more about the philosophy and application of Subchapter K rules.
Level: Intermediate Designed for: CPAs, attorneys, CFPs, enrolled agents, real estate and other professionals interested in an update, review or opportunity to discuss specific 1031 questions. Attendees should include professional staff who prepare or review income tax returns. Author/Instructor: G. Scott Haislet, CPA, Esq.
Author/Instructor: Norman S. Solomon, CPA, J.D., LLM
COURSES // 31
Real Estate Taxation (RELT)
S Corporations Workshop (SCWS)
This course examines significant real estate taxation issues and concepts. You will review planning and compliance topics that emphasize tax elimination or deferral, including 1031 exchanges, home sale exclusion (IRC Sec. 121), passive activities loss rules, estate planning and gifting with real estate. As a reflection of the lending environment, special attention will be paid to foreclosures, Cancellation of Debt Income (CODI) and short sale matters.
Understanding the key S corporation issues is an important focus for CPAs. This course closely examines key code sections and regulations and provides a review of S election procedures. You will analyze adjustments to a shareholder’s stock and debt basis, explore computation of various S corporation equity accounts (AAA, OAA, E&P and PTI) and calculate the tax treatment of distributions. You will also study selected corporate and shareholder elections, and, time permitting, discuss the significance of the taxes on excess passive income and built-in gains.
Objectives • Review important real estate tax and nontax issues. • Survey important techniques for deferral, reduction or elimination of taxes related to real estate acquisition, operations or disposition. • Examine key tax return disclosures, concepts and procedures. Major Topics • Foreclosures and short sales • Cancellation of Debt Income (CODI) (IRC Sec. 108) • 1031 exchanges • Home sale exclusion (IRC Sec. 121) • Passive activities loss rules (IRC Sec. 469) • Real estate professional rules (IRC Sec. 469(c)(7)) • Interest expense deduction rules (IRC Sec. 163) • Estate planning and gifting with real estate • California property taxation (Prop. 13, etc.) Field of Interest Code: Taxes CPE Hours: 8 | CFP-IT: 8 | EA: 8 | MCLE: 6.5 | LS-TX: 6.5 Level: Intermediate Designed for: CPAs, enrolled agents, attorneys, CFPs and other professionals who deal with homeowners, real estate investors, lenders, borrowers or tax preparers. Author/Instructor: G. Scott Haislet, CPA, Esq.
Objectives • Understand all options associated with S corporation elections. • Review S corporation stock and debt basis calculations. • Make use of appropriate elections. • Know how and when to use qualified subchapter S subsidiaries (QSubs). • Review aspects of undercompensation of shareholders/employees. Major Topics • S corporation elections • Basis of stock • Basis of shareholder debt • AAA, OAA, PTI and E&P definitions and rules • Excess passive income tax • Built-in gains • S termination years • Shareholder compensation Field of Interest Code: Taxes CPE Hours: 8 | CTEC-Fed: 6 | EA: 8 | MCLE: 6.5 | LS-TX: 6.5 Level: Intermediate Designed for: CPAs and attorneys who need a thorough working knowledge of S corporation fundamentals, pitfalls and traps, as well as an understanding of the latest rulings and regulations. Author/Instructor: Norman S. Solomon, CPA, J.D., LLM
2014–2015 ONSITE LEARNING COURSE CATALOG // TAXATION
Strategies for Tax Dispute Resolution (TCFS) As a CPA, you have to be prepared to know what to do when a revenue agent contacts your client. Gain a thorough understanding of the civil and potential criminal tax procedure and controversy process involving the IRS and California tax authorities. Learn useful techniques and strategies for representing clients in all aspects of tax controversy matters, including tax return examinations, defenses to civil penalties, administrative appeals, tax collection matters and tax fraud cases. Formerly titled: Tax Procedure and Controversy: Principles and Strategies Objectives • Understand the structure and operations of IRS and California tax authorities. • Build your knowledge of basic tax procedure principles. • Identify tax procedural issues. • Plan and conduct the tax examination, administrative appeal and collection process. • Increase your awareness and understanding of ethical considerations. Major Topics • Examination process: organization of restructured IRS; standards for return selection; examination procedures, including AICPA SSTS (revised); statutes of limitation; the accountant-client privilege; Circular 230 guidelines; IRM application; practical approaches to resolving examination problems, including mediation options. • Employment tax examination: employee-independent contractor classification issues; Sec. 530 and mitigation rules; trust fund recovery penalty; IRS National Research Program; and IRS Voluntary Classification Settlement Program. • Civil penalties: accuracy-related penalty; fraud penalty; preparer penalty; promoter and protestor penalties; nondiscretionary penalties; and foreign information return penalty regime. • Administrative appeals: nature and scope; bypassing appeal; drafting the protest letter; nature, preparation for, and conducting the appeals conference; settlement approaches, including mediation options. • Collection process: significance of assessment; nature of tax liens and levies; installment agreements; collection due process appeals; offers in compromise; bankruptcy rules; innocent spouse relief. • Tax fraud: civil tax fraud badges; criminal tax fraud violations; defenses; voluntary disclosures and eggshell examinations; role of Kovel accountant. • Judicial proceedings: Tax Court; federal district court; Court of Federal Claims; California Superior Court. Field of Interest Code: Taxes CPE Hours: 8 | CTEC-Fed: 8 | EA: 8 | MCLE: 6.5 | LS-TX: 6.5 Level: Intermediate Designed for: CPAs and attorneys who want to more effectively handle tax examinations, appeals, collection and fraud matters with IRS, FTB, EDD and SBE. Author/Instructor: Steven R. Mather, Esq.
Stretching the Boundaries of State Tax: Multistate Nexus and Apportionment Issues (MTCW) In this class, you’ll focus on the basics of nexus, apportionment and filing tax returns in a multistate environment. Gain an in-depth understanding of the complexity and planning opportunities involved in applying California’s new single sales factor apportionment formula. You will also learn how other states address the issue of apportionment and explore the tax computation and reporting requirements for states that assess a tax on gross receipts. Additionally, review the growing trend toward use of market-based sourcing in several states, including California. Course materials will summarize key attributes of a state’s tax system in an easy-to-follow chart format. Formerly titled: Nexus, Apportionment and Other Multistate Issues and other States. Objectives • Learn how California and other states have expanded their definition of “doing business” and understand how these developments will affect your clients. • Understand when, where and how to file income tax returns in other states. • Learn which states tax flow-through entities and how these assessments are computed. • Explore apportionment formulas and unique concepts, such as throwout and throwback. • Master the complexities of market-based sourcing. • Review all new state developments. Major Topics • Nexus standards in key states • Apportionment formulas in all states • Learn about states that have adopted combined reporting • Complex tax structures Field of Interest Code: Taxes CPE Hours: 8 | EA: 8 | MCLE: 6.5 Level: Intermediate Designed for: CPAs, attorneys and other tax practitioners filing tax returns in multiple states and tax advisers who provide tax advice regarding planning strategies for clients whose businesses expand outside of California. Author/Instructor: Kathleen K. Wright, CPA, J.D., LLM
Additional Taxation Programs: The Basics of Filing an Offer in Compromise Best Practices for Tax Income and Expense Recognition Buying and Selling S Corporations: Tax Planning Opportunities Corporate Income Tax Return Fundamentals Deal Structure for Mergers and Acquisitions Determination of Tax Status: Employee vs. Independent Contractor ESOPs: Uses, Strategies, Benefits and Pitfalls Foreign Information Tax Returns and the IRS Offshore Voluntary Disclosure Program Multistate Sales and Use Tax as a Profit Center Retirement Distributions: Planning Options S Corporations: Tax Consequences of Termination, Liquidation and Sale Tax Considerations for Buying and Selling a Business Tax Planning and Compliance for Multinational Families Tax Research Skills Taxation of California Registered Domestic Partners (RDPs) and Same Sex Married Couples (SSMCs) Taxation of the Construction Contractor and Homebuilder Utilizing Federal and California Tax Incentives and Credits
2014–15 ONSITE LEARNING COURSE CATALOG // TRUSTS AND ESTATE PLANNING
Estate Planning Intro: Know Your Q-tip From a QTIP (EPLPL)
Everything You Need to Know About Trusts (TRUSTS)
If you’re looking to get started in estate planning, then this course is for you. Learn the basics of intestate succession, probate, wills, health care directives, general powers of attorney, trusts and gift and estate tax planning, as well as transfers of assets. Get to know the basics of transfer tax planning, including: A-B trusts, QTIPs, unlimited marital deduction planning, planning with life insurance trusts, family limited partnerships and more. We will pay particular attention to planning for estate tax law changes, and take a look at advanced planning strategies, like the use of trust protectors.
We’ll start with a general overview of trust laws and general concepts, dive into common structures and then progress into advanced trust planning issues. And new this year will be extensive coverage of the use of trust protectors. You’ll learn advanced techniques related to income, gift and estate tax planning using trusts; succession planning; trust administration; special needs planning; charitable planning; and asset protection uses of most common trusts. The discussion will also cover various trusts, including living, qualified personal residence, life insurance, grantor annuity, charitable, special needs, foreign, retirement, dynasty and defective grantor. And we will cover utilizing portability versus A-B and A-B-C trusts for 2014 and beyond.
Objectives • Understand estate planning objectives. • Learn the basics of our legal system as it relates to probate, wills and trusts. • Understand basic to advanced gift and estate tax planning. • Study various instruments commonly used in estate planning. • Acquire the skills to deal with gift and estate tax problems. • Explore commonly used structures, from the basic to the more advanced. Major Topics • Intestate succession • Holding title to assets • Probate process • Designing and drafting wills, trusts and health care directives • Planning for lifetime asset transfers and testamentary asset transfers • Gift taxes and annual exclusions • Estate taxes • Commonly used structures to avoid or minimize transfer taxes • Living trusts, including A-B trusts and A-B-C trusts, terminating irrevocable trusts, using trust protectors • Life insurance trusts, FLPs, QPRTs, IDGTs, GRATs and charitable trusts Field of Interest Code: Taxes CPE Hours: 8 | MCLE: 6 Level: Basic Designed for: Tax professionals, CPAs and attorneys (including professional staff) involved in tax planning and consultation, whether in public practice or industry. Author/Instructor: Jacob Stein, Esq., J.D.,LLM
Objectives • Understand the income tax, gift tax and estate tax aspects of various types of trusts. • Review the requirements for a valid trust, selecting trustees, trustee discretion, distribution clauses and probate avoidance. • Review the estate planning and asset protection planning uses of different trusts. • Learn advanced tax, estate, succession, retirement, special needs and asset protection planning using trusts. • Uncover common obstacles and pitfalls, such as selection of trustee and property tax reassessment and how to plan around them. Major Topics • Trusts overview • Trust obstacles and pitfalls • Revoking irrevocable trusts • Trust protectors • Succession planning, retirement planning and estate planning through trusts • Special needs and Medi-Cal/Medicare planning • Tax planning with trusts: income tax, estate tax and gift tax planning, including IDGTs, IDGTs+SCINs, QPRTs, GRATs and other • Planning with A-B and A-B-C (QTIP) trusts • Charitable planning, with a focus on CRTs • Asset protection through domestic and foreign trusts Field of Interest Code: Taxes CPE Hours: 8 | CFP-EP: 8 | MCLE: 6.5 | LS-EP: 6.5 | LS-TX: 6.5 Level: Intermediate Designed for: CPAs, attorneys and financial planners. Authors/Instructors: Jacob Stein, Esq., J.D. LLM and Kenneth W. Kossoff, Esq.
COURSES // 35
Form 1041 Workshop (A1041) Successfully navigating Form 1041 can be a challenge for even the most seasoned practitioners. This course reviews more advanced issues that arise in fiduciary accounting and taxation, targets special situations involving fiduciary accounting for flow-through entities and reviews issues that arise upon the death of the grantor or first spouse. We’ll also explore how new legislation impacts Form 1041, review California Form 541 issues and discuss the economy, favorable planning opportunities and special elections. Objectives • Understand basic concepts of fiduciary taxation. • Explore the impact of the Medicare surtax and the latest legislation on fiduciary taxation. • Analyze special issues involved with fiduciary accounting for flow-through entities, including the power to adjust. • Review the distribution deduction and special issues involving capital gains and in-kind distributions • Learn issues and elections that arise upon the death of the grantor or first spouse. • Discuss and review issues involving the adjusted basis of assets in a trust or estate. • Investigate Form 541 and learn preparation best practices. Major Topics • Impact of fiduciary taxation law • Impact of tax rates and the Medicare Surtax • Fiduciary accounting issues • Distribution deduction and planning strategies • Death of grantor or first spouse, and related reporting and planning issues • California Form 541 issues and updates Field of Interest Code: Taxes CPE Hours: 8| AA: 1 | CFP-EP: 8 | MCLE: 6.5 | LS-EP: 6.5 Level: Intermediate Designed for: CPAs, trustees, attorneys and other advisers who are involved with fiduciary entities. Author/Instructor: Jacqueline A. Patterson, CPA, JD, MBT, Esq.
Additional Trust and Estate Planning Programs: Asset Protection Planning Form 1041: Down to the Basics Living Trust Administration Workshop Settled and Approved: Fiduciary Accounting from Start to Finish Subtrust Funding Workshop The Portable Exclusion, Marital Deduction and Future of Survivor’s and Bypass Trusts Planning
FEATURED INST DANA A. BASNEY
SEFTON BOYARS
GARY M. CAPORICCI
CPA, CFE, CIRA
CPA, CGFM, CFS
CPA, CFF, CGFM
Dana A. Basney is a former shareholder in Mayer Hoffman McCann PC and a retired managing director of CBIZ MHM, LLC in charge of its San Diego forensic accounting services group. He is an experienced expert witness and has acted as a consultant to attorneys in civil and criminal cases in both federal district court and state courts. His testimony has involved accounting standards, accounting malpractice, business valuation, economic losses and tax issues. Basney has also been appointed as special master and joint expert in matters of valuation and accounting, and has acted as a mediator and settlement referee in numerous court cases.
Until his retirement in October 1996, Sefton Boyars was the Department of Education’s Regional Inspector General for Audit. During his 35-year career, Boyars worked for a variety of federal government audit agencies, as well as a California county. Boyars served on the Qualifications Committee of the California Board of Accountancy for three years. Boyars is a member of the CalCPA Government Auditing and Accounting Committee and president of the San Francisco Chapter of the Association of Government Accountants.
Gary Caporicci has more than 30 years of diversified business experience, including a specialization in audit and management consulting for government organizations. Caporicci’s clients include public and private universities and colleges, city and county governments, state agencies, joint power authorities, health care agencies, transportation agencies and special districts. Known for his expertise in the areas of construction and government, Caporicci wrote the AICPA audit guides on those topics, and authored many audit and accounting courses for professional groups, as well as academic institutions. He frequently speaks and lectures at many professional organizations, governmental seminars and conferences including industry associations, other accounting firms and universities. In addition, he authors white papers for the CalCPA California Municipal Accounting. Committee.
Basney has taught accounting and business classes since 1978. He teaches fraud examination and forensic accounting in the graduate program as well as undergraduate accounting at the University of San Diego, and has taught accounting at the University of California, San Diego’s extension program. Basney serves on CalCPA’s Ethics Committee and is thechair of the CalCPA San Diego chapter Professional Conduct Committee. He has many years of experience in defending accountants in malpractice actions and is a well-known lecturer on a variety of accounting topics, including ethics and fraud, and brings to each class much pragmatic experience typically not found in a textbook.
An experienced trainer, he has taught for numerous organizations, including federal, state and local governments, professional associations, the USDA Graduate School and Management Concepts, Incorporated. In 1988, he received AGAs National Education and Training Award. He also authored the Association of Government Accountants’ study guide for “Course 3 of the Certified Government Financial Manager.”
Prior to working with a firm, Caporicci founded his own accounting practice. He also spent 11 years with a Big Eight professional services firm where he was an audit manager and gained broad experience in a wide range of industries such as government, construction, manufacturing, mutual funds and insurance. Caporicci’s earlier experience includes a consultant position with a Big Four practice and vice president of a national insurance and financial services company.
TRUCTORS ELIZABETH DANZIGER Elizabeth Brenner Danziger, founder of Worktalk Communications Consulting, enables people to achieve success through better writing. Danziger has trained businesspeople throughout the United States and has worked with executives from many major corporations. She brings 28 years of experience to her work. Danziger received her bachelor’s degree from Pomona College in Claremont, California and holds a Certificate of Executive Education from the UCLA Anderson School of Business. She has written four books, the most recent of which is “Get to the Point!”, which was originally published by Random House and is now in its second edition. Her work has been published throughout the world.
MARK E. DAUBERMAN
ARTHUR (KIP) DELLINGER, Jr.
CPA
CPA
Mark Dauberman taught his first university accounting class in 1969 and has been involved in accounting education since having taught at California State University at Northridge(CSUN), California State University Los Angeles (CSULA), UCLA, and Loyola Marymount University. He obtained his bachelor’s degree in accounting from California State University at Northridge (CSUN) in 1970. In 2010, he completed the Executive MBA program at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he had been a student of Drucker in 1971.
Arthur J. (Kip) Dellinger, Jr., CPA, provides services as an expert in the areas of CPA tax practice regulatory discipline and malpractice matters. This includes his engagement by Big Four CPA firms as an expert pertaining to conduct matters and substantive technical issues in several tax shelter malpractice cases. Dellinger also represents clients in tax controversy matters and provides services to tax counsel in criminal and civil tax proceedings. He has written more than 30 articles and is a nationally-recognized speaker in the areas of tax standards, tax procedure and substantive estate tax matters. He is also a Policy Perspectives columnist for Tax Notes magazine.
Dauberman’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. He also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.
Dellinger is a past chair of the AICPA Tax Division’s Tax Practice Responsibilities Committee and is the author of the Practical Guide to Federal Tax Practice Standards (CCH, 2007). He developed and teaches the full-day courses titled “Tax Practice Standards, Conduct and Quality Control for California CPAs,” “FIN 48: Uncertain Tax Positions” and “Quality Control in a Tax Practice” for CalCPA Education Foundation.
Dauberman provides CPE and technical staff training for CPA firms, private industry employers of accountants and government organizations on topics that include applying the risk assessment standards, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management. In addition to numerous CPE courses and articles, he authors the CCH publication “Knowledge-Based Compilations & Reviews.”
Dellinger has spoken before the USC Law School Institute on Federal Taxation, the AICPA National Tax Conference, the UCLA Tax Controversy Institute, the Illinois Society of CPAs, the Florida Institute of CPAs, the Tennessee Society of CPAs and the California Tax Bar. He is also a frequent speaker before other CPA and tax attorney conferences, meetings and discussion groups.
FEATURED INST SUZAN C. DENNIS
STEPHEN N. GETZOFF
G. SCOTT HAISLET
CPA, MSA
CPA, CFE, CFF, CICA
CPA, Esq.
Suzan Dennis, CPA, MSA, is the managing partner at Dennis & Dennis, LLP, and teaches classes on forensic accounting and cost accounting at University of California at San Diego. She is also an adviser in the Accounting Certificate Program. Dennis has also taught basic to advanced accounting courses at the National University and San Diego State University.
Stephen N. Getzoff is president of Business Fraud Detection Services and a partner in Clumeck, Stern, Schenkelberg & Getzoff. He has more than 40 years of experience assisting clients in services including fraud prevention, detection and investigation, tax and financial planning, and business consulting. His experience also includes expert testimony regarding embezzlement, breach of contract, franchise violation, business valuation and financial issues in marital dissolutions. He is qualified as an expert witness in the Los Angeles and Ventura County Superior Courts.
G. Scott Haislet is a California attorney and CPA, and is a Certified Specialist in Taxation Law. He practices in the areas of taxation, wills, trusts, estate planning, real estate, business, IRS audit representation and 1031 exchanges. He is president of a qualified intermediary for 1031 exchanges. Haislet is a member of the State Bar of California (Tax Section and Trusts/ Estates Section), the United States Tax Court Bar, the Contra Costa County Bar Association, the AICPA and CalCPA. He was chair for CalCPA’s Real Estate Conference in 2004, 2005-06, and 2013, and is a past Tax Section chair of the Contra Costa County Bar Association. He formerly practiced with a Big Four firm, and was an investment executive with a major Wall Street investment firm.
RONALD C. EVENSEN CPA, MS Ronald C. Evensen, CPA, MS (Taxation) has more than 30 years experience as a CPA and consultant to business and government. Evensen was a partner and coordinator of continuing education for a national CPA firm where he designed and conducted continuing education programs and served as chair of the firm’s Accounting Principles and Auditing Standards Committee. He served as chair of the AICPA Committee on Small Business Development and president of the Arizona Society of CPAs.
Getzoff is a member of CalCPA and AICPA, and has co-authored and instructed several courses for the CalCPA Education Foundation. He has also authored and co-authored several books, and is a frequent instructor of forensic accounting, fraud prevention, detection and investigation. Getzoff earned his bachelor’s degree in business administration from California State University, Los Angeles and his master’s degree in business administration from California State University, Northridge.
Haislet writes and lectures frequently about tax, real estate, finance and estate planning and legal issues, and has authored continuing education courses for real estate and tax professionals. He teaches two CalCPA Education Foundation courses, one on 1031 exchanges and the other on real estate taxation. He also appeared on San Francisco radio programs from 1995-2007 (“Ray Brown on Real Estate” and “Gary Allen on Business,” KNBR 680 AM). Haislet holds degrees from the University of Michigan School of Business and from Taft University School of Law.
TRUCTORS JEFF S. LENNING
LAURA G. LINDAL
DANIEL D. MORRIS
CPA, CITP
CPA
CPA
Jeff Lenning of Click Consulting, Inc., is a CPA and published author. He has written several articles for the Journal of Accountancy and other publications. His firm specializes in providing computer consulting services to CPA firms and their clients. Lenning is a regular instructor for CalCPA Education Foundation public courses and can bring the following programs directly to firms as an Onsite Program: “Accounting and Auditing with Excel,” “Advanced Excel: Workshop” and “Excel and Access: Tools of the Trade for Business.”
Laura Lindal has over 25 years of auditing experience, including those performed in accordance with OMB Circular A-133, Consolidated Audit Guide for Audits of HUD Programs, and Government Auditing Standards. She specializes in understanding and documenting clients’ internal control, assessing risk (often below maximum) and designing audit plans and procedures tailored to clients’ internal control and assessed risks.
Daniel D. Morris, CPA, is a founder of the VeraSage Institute, a think tank dedicated to teaching value pricing to professionals around the world. He is a frequent speaker at CPA events and conferences, and a consultant to CPA firms on implementing total quality service and value pricing. He has been an instructor with the CalCPA Education Foundation since 1998 and has written more than a dozen courses for them. Morris presents frequently at national and regional conferences including, the Professional Pricing Society, AICPA and Association of Accounting Marketing Executives.
Lindal has experience in a variety of industries, including not-for-profit organizations, affordable housing, real estate development and property management, construction, and professional service industries. She has complemented her skills by performing peer reviews, as well as consulting with firms regarding performance and documentation of their attest engagements. Lindal is a licensed CPA in California, Washington and Alaska.
FEATURED INST ANNETTE NELLEN
THOMAS E. NOCE
DAVID L. OSBURN
CPA, J.D., Esq.
CPA, CFE
MBA, CCRA
Annette Nellen, CPA, Esq., is the director of San Jose State University’s graduate tax program (MST). She also is a professor within the program teaching courses in tax research, accounting methods, property transactions, state taxation, ethics, tax policy and high technology tax issues. Nellen is past chair of the SJSU Academic Senate, and the recipient of the 2000-01 Outstanding Professor award at SJSU.
Tom Noce is a graduate of Rutgers University with a degree in accounting. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for nonprofit organizations and government-related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003 when he opened his own practice in Palm Springs.
David L. Osburn, MBA, CCRA is the founder of Osburn & Associates, LLC, a business training and contract CFO firm that provides seminars, webinars and keynote speeches on topics such as banking/finance/credit, negotiation, marketing and management. His contract CFO clients include medical practitioners, real estate developers and contractors.
She is the immediate past chair and member of the AICPA Individual Taxation Technical Resource Panel and is a member of the Executive Committee of the Tax Section of the California Bar. Nellen has testified before the House Ways and Means Committee, Senate Finance Committee, California Assembly Revenue & Taxation Committee and a few state tax commissions. Prior to joining SJSU, she was with Ernst & Young and the IRS.
His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners associations, country clubs and nonprofit organizations. His practice emphasis is in tax and accounting issues related primarily to the real estate and hospitality industries. He also is involved with special projects dealing with internal controls and fraud prevention and detection. Noce has authored and taught a number of courses for the CalCPA Education Foundation and was chair of the Foundation’s first two Fraud Conferences, as well as two Audit and Accounting Conferences. In 2004 and 2010 he received the Foundation’s Award for Instructor Excellence. Noce is a presenter of six courses for the Foundation in the areas of fraud, audit and accounting standards and riskbased auditing.
His extensive professional background of 30 years includes 16 years in banking (commercial lending including loan underwriting, collections, management and customer development) and 29 years as an adjunct college professor (MBA and undergraduate courses). Osburn holds an MBA from Utah State University, a bachelor’s degree in finance from Brigham Young University and is a graduate of the ABA National Commercial Lending School at the University of Oklahoma. Additionally, he holds the professional designation of Certified Credit & Risk Analyst as granted by the National Association of Credit Management.
TRUCTORS JACQUELINE A. PATTERSON
JACOB STEIN
KATHLEEN (KITTY) WRIGHT
CPA, J.D., MBT
Esq., J.D., LLM
CPA, J.D. LLM
Jacqueline Patterson is a founding partner in the law firm of Buchanan & Patterson, LLP and specializes in tax, estate and financial transactions. Her emphasis is positioning individuals, businesses and fiduciary entities for orderly administration and succession planning. She advises grantors, fiduciaries and beneficiaries in matters involving the transfer, administration, investment and management of assets and is a consultant to attorneys and CPAs in fiduciary accounting, taxation and litigation.
Jacob Stein, ESQ, is a partner with the law firm Klueger and Stein, LLP, in Los Angeles. The firm’s practice is limited to asset protection, domestic and international income and estate tax planning and structuring complex business transactions. Stein received his law degree from the University of Southern California, and his master’s degree of Law in Taxation from Georgetown University. He has been accredited by the State Bar of California as a Certified Tax Law Specialist and is AV-rated (highest possible rating) by Martindale-Hubbell. S
Kathleen Wright is a visiting professor at Golden Gate University School of Taxation and the director of the State and Local Tax Program. She has a bachelor’s degree in accounting from Florida State University, a juris doctor’s degree from Fordham Law School in New York City, a master’s degree in business administration (taxation) from New York University and a master of laws degree (taxation) from Golden Gate University School of Law. Wright is also a CPA licensed in California and admitted to practice law in New York. She has a private tax practice focusing on personal and small business tax planning and consulting. She is a co-author of “State Taxation and Other Business Taxes” and “California’s Response to the Economic Recession,” both published by Commerce Clearing House Expert Treatise Series, 2014. She writes a column for State Tax Notes published by Tax Analysts (Washington D.C.) where she serves as a California correspondent. She publishes frequently on state and local issues with articles appearing in The Tax Adviser, The Tax Lawyer, the Journal of State Taxation and The ATA Journal of Legal Tax Research.
Patterson graduated from Santa Clara Law, continued her education with a master’s degree in business taxation (MBT) from the University of Southern California and is also a CPA. Patterson is a nationally-recognized speaker and has been a seminar discussion leader and author for many years, writing and facilitating seminars in corporate taxation, the income taxation of trusts and estates, fiduciary accounting, tax research and planning, trusts, real estate transactions and charitable trusts. She was honored by the CalCPA Education Foundation with the 2000 Award for Meritorious Service, the Award for Outstanding Course Materials (2002) and the Award for Outstanding Conference Speaker (2006). Patterson has held adjunct faculty positions in the graduate tax programs at both USC and Golden Gate University. As well as being a conference speaker for the AICPA, she also served on an AICPA special task force studying fiduciary accounting and on the AICPA Estate and Gift Technical Resource Panel. She has taught for the National Tax Institute and has participated in panel discussions for Continuing Education of the Bar. An author and presenter of financial seminars to professional groups on a broad range of issues, she has practice experience in public accounting, the financial institution industry, business management, real estate and law.
tein is an author of numerous tax and asset protection articles and technical manuals and a frequent lecturer to various attorney, CPA and other professional groups. He is an adjunct professor of Taxation at the CSU, Northridge Graduate Tax Program.
Wright has been elected to the Board of Trustees for the CalCPA Education Foundation and the executive advisory board for the Franchise Tax Board. She has also been appointed to the AICPA Technical Resource Panel for State and Local tax issues. Wright speaks frequently on multi-state topics and continues to present seminars for the CalCPA Education Foundation on a wide variety of topics.
Sponsorship Opportunities Your Opportunity to Shine
As a sponsor, you have a variety of options to connect with California CPAs and financial professionals, including: key industry and technical conferences; local CPE and networking events; and celebrations like our student scholarship nights. Choose from presenting directly to our audience, hosting the exhibit space, placement on event signage and advertising and placement on pre-event marketing.
calcpa.org/sponsor
Credit Policies
NASBA Registered
CalCPA Education Foundation follows the provider requirements as prescribed in th California Board of Accountancy regulations. The programs are developed to comply with the Statement on Standards for Continuing Professional Education (CPE) programs jointly issued by the National Association of State Boards of Accountancy and the AICPA.
CalCPA Education Foundation is registered with the National Association of State Boards of Accountancy (NASBA), as a Quality Assurance Service sponsor of continuing professional education. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to NASBA through its website: www.learningmarket.org.
CPE Credit Policies The California Board of Accountancy records CPE calculated on a 50-minute hour, which is comprised of two 25-minute segments. Once the first 50-minute hour of CPE has been complete, you will receive a half hour of credit for each additional 25-minute segment that is completed.
CalCPA Education Foundation is also a registered continuing education provider with the following organizations:
To be in compliance with Section 88(1) of the CBA regulations, attendance must be monitored and a record of attendance completed which accurately reflects the number of contact hours for participants including those who arrive late and leave early. The host provider must retain the record of attendance, written educational goals and specific learning objectives, as well as a syllabus, which provides a general outline, instructional objectives and a summary of topics for the course for a period of five years. A copy of the educational goals, learning objectives and course syllabus shall be made available to the California Board of Accountancy upon request.
Basic Requirements A licensee shall be required, as a condition of active status license renewal, to have completed at least 80 hours of continuing education (CE) in the two-year period immediately preceding license renewal. A signed statement which appears on the renewal application wherein the licensee certifies to the completion of the required CE and the statement required Sec. 89(a) must be submitted. A licensee engaged in the practice of public accountancy as defined in Section 5051 of the Business and Professions Code is required to hold a license in active status. No carryover of continuing education is permitted from one two-year period to another. (1) A licensee renewing a license in an active status shall complete a minimum of 20 hours in each year of the two-year license renewal period, with a minimum of 12-hours of the required 20 hours in subject areas as described in Section 88(a)(1). New Fraud Requirement (Effective Jan. 1, 2014) All licensees who are subject to the Accounting & Auditing requirement or Government CE requirement shall also complete an additional four hours of fraud continuing education specifically related to the prevention, detection and reporting of fraud in financial statements, every renewal period of two years. This is a decrease from eight hours under the previous regulation. Ethics and Regulatory Review Requirements Four hours of ethics continuing education is required every renewal period of two years. A two-hour regulatory review course is required every six years covering the California Accountancy Act, plus California Board of Accountancy regulations and enforcement actions.
CalCPA Education Foundation policies are subject to change. For up-to-date information, visit calcpa.org/policies.
www.calcpa.org/onsite
CalCPA Education Foundation 1800 Gateway Drive, Suite 200 San Mateo, CA 94404 (800) 922-5272