Skip to main content
 This program is not active.
Not Found
Live Webcast Replay

Financial & Tax Accounting for S Corporations

Total Credits: 4 including 4 Accounting - Technical

Average Rating:
ACPEN Industry Institute
Steven C. Dilley, CPA, JD, PhD
Course Levels:
4 Hours



This program addresses the many complex financial and tax accounting issues that are common in S corporation transactions, with discussion of common pitfalls and the new AICPA "small" GAAP accounting standards.

Basic Course Information

Learning Objective
  • Provide an understanding of the financial accounting aspects of S corporations
  • Explore the common differences between financial accounting and tax accounting for S corporations

Major Subjects
  • Review of the Accounting Standards Codification and its relationship to financial accounting for S corporations
  • Review of OCBOA/Special Purpose Frameworks and their relationship to financial accounting for S corporations
  • Review of the AICPA "small" GAAP rules
  • The impact of the entity's tax status history on its financial accounting
  • Deferred tax accounting for S corporations
  • Required S status financial accounting disclosures
  • Financial accounting impact of the C to S election and the S to C election
  • The relationship of financial accounting and the Form 1120S
  • Financial and tax accounting for S corporation shareholder equity account
  • Financial vs. tax accounting for loans to and from S corporations and their shareholders
  • Financial accounting vs. tax accounting for S corporation investments in other entities
  • Financial and tax accounting for PPP loan forgiveness.

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.

Additional Info

Basic Course Information


Basic working knowledge of S Corporation reporting.

Advanced Preparation


Designed For

CPAs in public accounting and members in industry dealing with financial accounting issues of S corporations


Original Recording Date


Yellow Book


Course Developer

Federal Tax Workshop

Date Added to Catalog


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:      4.5

Total Reviews: 73


Thomas B

"VERY outstanding"

Robin V

"Mr. Dilley is always interesting to listen to and well versed in the subject matter. Appreciate his expertise. This class also was a lot more interesting that I was expecting; I'm a tax practitioner and attended for A&A credit. There was enough tax discussion that made the session relevant to my practice (I don't practice in A&A), which I appreciate."

David M

"Good course!"