2024 MSCPA Annual Convention: Details

2024 Financial Accounting for Related Party Transactions

← Return to The CPE Catalog
Monday, August 5, 2024 @ 8:00am – 9:57am
Add to Calendar

Description

Loans, rental agreements, business combinations – what do these all have in common? They all have the potential of creating a related party transaction.  This program presents a detailed analysis of the financial accounting rules for transactions with related parties, as well as compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities.

Prerequisites

Basic working knowledge of financial statement reporting

Highlights

  • FASB codification provisions for transactions with related parties, including business owners and special purpose entities
  • Compares and contrasts those rules with the AICPA financial reporting framework for small and medium-sized entities
  • Reviews the tax accounting related taxpayer standards
  • Several real-life situations illustrate the various authoritative standards and discuss the consequences of failing to comply with those standards

Objectives

  • Identify the financial accounting rules for related parties and how they impact accounting transactions

Preparation

None

Credits

Category Amount
Accounting&Auditing 2.00