Skip to main content
Live Webcast Replay

2024 Financial & Tax Accounting for Partnerships & LLCs

Total Credits: 4 including 4 Accounting - Technical

Average Rating:
ACPEN Tax Institute |  Accounting and Auditing
Steven C. Dilley, CPA, JD, PhD
Course Levels:
4 Hours
Product Setting: Expires 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


This program compares and contrasts the financial accounting for partnerships and LLCs, as well as discusses the tax accounting for these entities. It includes a thorough discussion of the important differences between financial accounting for partnership capital accounts and the tax accounting for partnership capital accounts. Financial accounting for operations of a partnership will also be addressed.

Basic Course Information

Learning Objectives
  • Identify how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts

Major Subjects
  • Review of the Accounting Standards Codification and its application to partnerships and LLCs
  • Review of the OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs
  • Review of the AICPA financial reporting framework for small and medium-sized entities
  • Integration of these financial reporting approaches with accounting for issues in the formation of partnerships and LLCs
  • Financial accounting issues arising from changes in ownership of partnership and LLCs
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Review of Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting for partnerships/LLCs with the Form 1065
  • Financial accounting basis for ownership interests vs. tax accounting basis for ownership interests
  • Deferred tax accounting for partnerships/LLCs
  • Completion of the Form 1065 Schedule M-1
  • Financial accounting for the operations of a partnership/LLC

Course Materials


Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products

Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Fri, Aug 09, 2024 - 02:00pm to 05:36pm EDT
Wed, Aug 28, 2024 - 04:00pm to 07:36pm EDT
Thu, Sep 05, 2024 - 10:00am to 01:36pm EDT
Fri, Sep 20, 2024 - 12:00pm to 03:36pm EDT
Thu, Oct 10, 2024 - 06:00pm to 09:36pm EDT
Sat, Oct 26, 2024 - 04:00pm to 07:36pm EDT
Fri, Nov 08, 2024 - 10:00am to 01:36pm EST
Wed, Nov 20, 2024 - 12:00pm to 03:36pm EST
Mon, Dec 02, 2024 - 02:00pm to 05:36pm EST
Wed, Dec 11, 2024 - 04:00pm to 07:36pm EST
Thu, Dec 26, 2024 - 10:00am to 01:36pm EST
Sat, Jan 04, 2025 - 12:00pm to 03:36pm EST
Tue, Jan 28, 2025 - 02:00pm to 05:36pm EST
Fri, Feb 07, 2025 - 04:00pm to 07:36pm EST
Tue, Feb 18, 2025 - 06:00pm to 09:36pm EST
Thu, Mar 06, 2025 - 12:00pm to 03:36pm EST
Mon, Mar 24, 2025 - 02:00pm to 05:36pm EDT
Tue, Apr 01, 2025 - 04:00pm to 07:36pm EDT
Wed, Apr 16, 2025 - 10:00am to 01:36pm EDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of financial accounting
Advanced Preparation


Designed For CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current
Original Recording Date 04/2024
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 3/13/24

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.



Overall:      4.4

Total Reviews: 8