CPE & Event Calendar

The topic of internal control has long been an issue for business. Management may view internal control as a set of forms, checklists, and templates that auditors require. However, internal control is much more. Since the passage of the Sarbanes-Oxley Act (SOX), internal control (especially over financial reporting) has become a major focus for all organizations, regardless of their status as public, private, not-for-profit, sole proprietorship, partnership, or corporation. It is essential that managers understand and establish sound, effective, and proper internal controls for operations, compliance, and financial processes within the organization. Internal control can truly provide ultimate organizational value. Internal controls are defined as the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. Internal controls are a means by which an organization’s resources are directed, monitored, and measured. This includes operational and compliance activities. It plays an important role in preventing and detecting fraud and protecting the organization’s resources. Internal control is affected by an organization’s structure, work and authority flows, people, and information systems, and is designed to help the organization accomplish specific goals or objectives. For instance, a small organization with limited resources may not be able to segregate duties with the same rigor that a larger organization can. However, that does not give small organizations an excuse to ignore the importance of that control. They must find other ways to mitigate potential issues. In any event, internal control is part of an organization’s overall responsibility and requires due diligence to ensure its operations are effective. Management is the “keeper” and “inventor” of internal controls and must take ownership.

Internal Controls to Mitigate Financial Reporting Risk - Designing Stronger Internal Controls for Small or Mid-Size Entities provide practical analysis and tips for how a reporting entity can manage financial reporting risk in an effective and efficient way. Internal controls are applied within an organization to satisfy objectives related to operations, compliance, and financial reporting. This module will also differentiate the auditor's responsibilities for internal controls under Sarbanes Oxley, Government Auditing Standards and Single Audit Act requirements. Note: This course is recommended as a part of a 16-hour audit skills curriculum for supervisory or managerial auditors, while it is also appropriate for anyone who has responsibilities for designing or evaluating the design of internal controls. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Every organization today is facing an onslaught of pressure to master Artificial Intelligence “AI” strategies across their enterprises. Never before have we witnessed such a steep expectation for how a “technology” can transform a business, and never before have we been expected to leverage a technology so quickly and so completely.  There is no denying AI presents perhaps the opportunity of a lifetime to transform and improve operations, but to date few plans or roadmaps on how to unlock the promise of AI exist. In this class, Steve Cadigan, a globally renowned future of work expert, will present a practical plan for how you can build your own AI strategy, and how you can thrive in the AI revolution. Steve will show present a roadmap of how to build your confidence with AI to address this massive change management challenge.

This course is designed to provide an overview of the IRS Strategic Plan 2023-2026 and its impacts on the accounting profession and regulatory ethics. The course will cover the key goals and priorities of the IRS Strategic Plan, including improving service to taxpayers, enforcing the tax law fairly, transforming IRS operations, and fostering an inclusive and well-equipped workforce. Participants will learn about the specific measures the IRS plans to take to achieve these goals and the implications of these measures for tax professionals. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Looking for an idea that will help recruit and retain employees, engage customers, and invite investors? Sustainability is the solution! Sustainability is no longer just a "nice thing to do," it is both a business and moral imperative. Incorporating sustainable strategies into your day-to-day operations creates a competitive advantage, enhances your brand, and benefits the bottom line. On the business side, according to Harvard University, companies with strong sustainability initiatives have 4 times the sales growth, 8 times the employee engagement, and a 47% greater increase in stock value than their non-sustainable competitors. On the moral side, your customers and employees will no longer support an organization that does not address environmental and social issues. This session will explain the 6 benefits of sustainability and 6 steps to building a sustainable business. Learn how to make sustainability a competitive advantage to attract and retain loyal customers and high-performing employees. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Tax rates, personal liability, operations – these are all factors to be weighed when advising clients about their choice of entity decision.  This session provides a comparison of the multiple entity choices to start the discussion with clients and selecting the best tax efficient option for them. **Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Making the S-election avoids double taxation for corporate operations after the election is effective. Consider the special rules related to adjusting the stock-adjusted basis, distributions and loss limitations. Rules surrounding the S corporation election are necessary to accomplish the single level of tax at the shareholder level. Evaluate the details of the adjustments to the stock basis. Cover descriptions and illustrations regarding calculating the "accumulated adjustment account" (AAA) and determining whether a distribution is from AAA. Loss limitation rules will be explained and illustrated, focusing on complications arising when distributions and losses occur in the same taxable year. Also, take into account the tax considerations of losses, reducing the adjusted basis in shareholder loans. Identify and evaluate tax planning opportunities and strategies.

Discover the real-world power of Artificial Intelligence (AI) and equip yourself with the skills to conquer modern challenges in accounting and finance. In this engaging course, we demystify AI and unveil its practical applications, transforming it from theory into a hands-on tool. Learn the essential AI fundamentals and unlock its remarkable potential to boost your productivity and effectiveness alongside your team. Explore the specific problem-solving capabilities of AI, tailored to address the unique challenges faced by accounting and financial professionals. Gain expertise in leveraging AI features integrated into everyday applications, including the ubiquitous Excel. Uncover how these features enable you to effortlessly detect fraud, identify potential transaction errors, and elevate your financial operations to new heights. Witness firsthand how AI is reshaping the present and future of your profession, positioning you at the forefront of this revolutionary wave.

The Tax Division, United States Department of Justice, is responsible for enforcing the nation's tax laws fully, fairly, and consistently, through both criminal and civil litigation. This course will explore the role of the Tax Division in ensuring fair and uniform enforcement of tax laws, protecting the public, encouraging voluntary compliance with tax laws, and how their operations impact regulatory ethics. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

"Transforming Strategic & Financial Management with ChatGPT: Insights for CPAs, CFOs, and Controllers" is a comprehensive 2-hour CPE course designed by Jim Lindell of Thorsten Consulting Group, Inc. This course delves into the revolutionary impact of ChatGPT on financial and strategic management, offering a blend of theoretical insights and practical applications tailored for financial professionals. Through an exploration of ChatGPT's capabilities in research, communication enhancement, benchmarking, risk analysis, and more, participants will learn how to leverage this advanced AI technology to streamline operations, enhance decision-making, and foster innovation in their practices. The course not only highlights the current applications but also provides a glimpse into the future of AI in financial management, encouraging professionals to embrace technology for competitive advantage.

The topic of internal control has long been an issue for business. Management may view internal control as a set of forms, checklists, and templates that auditors require. However, internal control is much more. Since the passage of the Sarbanes-Oxley Act (SOX), internal control (especially over financial reporting) has become a major focus for all organizations, regardless of their status as public, private, not-for-profit, sole proprietorship, partnership, or corporation. It is essential that managers understand and establish sound, effective, and proper internal controls for operations, compliance, and financial processes within the organization. Internal control can truly provide ultimate organizational value. Internal controls are defined as the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. Internal controls are a means by which an organization’s resources are directed, monitored, and measured. This includes operational and compliance activities. It plays an important role in preventing and detecting fraud and protecting the organization’s resources. Internal control is affected by an organization’s structure, work and authority flows, people, and information systems, and is designed to help the organization accomplish specific goals or objectives. For instance, a small organization with limited resources may not be able to segregate duties with the same rigor that a larger organization can. However, that does not give small organizations an excuse to ignore the importance of that control. They must find other ways to mitigate potential issues. In any event, internal control is part of an organization’s overall responsibility and requires due diligence to ensure its operations are effective. Management is the “keeper” and “inventor” of internal controls and must take ownership.

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.

How do you raise your skills to the next level to master the Controller or CFO role?  Welcome to a course that provides insights that align the CGMA Competency Framework. The course will examine each of the areas: Technical, Business, Leadership and People to increase your competency.  How are your technical skills?  Are you a traditional accountant or have you learned to expand your technical skills to go beyond “what are the financial numbers?” to “why did these financial results occur?”  Are you able to use ratios to understand the business dynamics and the implications to change course or take corrective action?  Are the systems that you implement and operate best practices or merely stop-gap solutions? How are your business skills?  Can you set a vision? Can you develop a strategy?  Do you understand the macroeconomic environment of your organization?   Can you lead a major project to a successful conclusion?  This session will explore the role of business as opposed to tracking the results of the business. How are your people skills?  How good is your ability to influence others? How are successful are your negotiation skills?   How well can you communicate?  Are you a collaborator or a partner?  This section will help accountants understand that it is people skills that drive the overall success of the accounting operations. Finally, how are your Leadership skills?  Do you inspire staff or make them angry?  Do you know why your staff work for your company and you?  Do you understand what employees want from their position?  Do you know how to deal with a difficult staff person?  Can you lead difficult change?  This session will help you recognize what leadership truly is as opposed to what passes for day to day management.

Internal Controls (IC) are in place for a reason. They help maintain the control environment and establish efficient and effective processes. They also serve as a mitigation technique for identifying when processes have changed and when procedures need to be adjusted. In today’s business world, all personnel must understand the concept of internal control, how they should be utilized and their benefits.   The purpose and value of internal controls are often misunderstood and misapplied by management. Internal controls should be viewed as a value-oriented activity that assists the organization in the effective execution of its objectives. Properly designed and executed controls are the key to ensuring this view.   A previous course “The Manager’s Responsibility for Internal Control," addressed these concepts at a higher level. This course further explores the types of ICs, how they can be properly utilized and the cost benefit considerations for implementation.   Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives in the following areas: Effectiveness and efficiency of operations Reliability of financial reporting Compliance with applicable laws and regulations Safeguarding assets

The business structure a client chooses influences virtually every tax and financial issue associated with the business, including the business's day-to-day operations, its tax liability, how much of the owners' personal assets are at risk, and much more. For this and many other reasons, it is critical that a client choose a business structure that gives the right balance of legal protections and tax benefits. From a tax perspective, in terms of selecting an entity to do business in, the universe shifted with the Tax Cuts and Jobs Act enacted at the end of 2017. The tax rate for C corporations was lowered to 21% and the 199A deduction offered pass-through entities the chance to significantly lower the rate at which they are taxed. But how do all these options work and which option is best for which business? Those questions are at the heart of this webinar. In this program, we discuss whether there is a "best entity" for our clients. Tax practitioners know that re-examining choice of entity determination is at the top of the agenda for client meetings because clients continue to want reassurance that they have the most tax-efficient entity structure. This program will equip you with the knowledge and insights you need to lead those discussions.

Tax rates, personal liability, operations – these are all factors to be weighed when advising clients about their choice of entity decision.  This session provides a comparison of the multiple entity choices to start the discussion with clients and selecting the best tax efficient option for them. **Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

It is no secret that accounting firms, like many other organizations, have begun launching operations in the metaverse. For those unsure, the metaverse is a digital or virtual space where participants simulate a host of activities ranging from shopping to entertainment and business transactions. Why wouldn't accounting firms and other professionals want to get in early on this new frontier? All types of businesses have begun purchasing and setting up shop in this new virtual world. These are no small endeavors - professionals are creating business plans to operate successfully in the virtual world that started off originally as a niche format for gamers. Accounting firms are starting to announce their acquisition of virtual real estate, and some are paying a premium to obtain prime locations. To operate successfully in the metaverse, professionals need to understand the environment and the rules of the game. This course provides an introduction to the metaverse and an overview of opportunities, risks and rewards for professionals who wish to stay relevant in the ever-expanding virtual world. Participants will walk away with an understanding of where we are in this rapidly developing space, plus gain insights on how to establish a presence or advise clients who wish to explore metaverse opportunities.

The course provides a concise overview of Environmental, Social and Governance (ESG) reporting -- an emerging system of non-financial record-keeping and governance. Around the world, organizations of all sizes and kinds are under increasing pressure from regulators, consumers, employees, and other stakeholders to provide a fuller and more integrated picture of the way in which entities operate, invest, and create value. This includes taking into account how their operations impact financial, manufactured, intellectual, human, social, relationship, and natural capital. Participants will walk away with an increased situational awareness of ESG reporting, and an ESG starter strategy. This can be used immediately to position themselves for ESG success in an era of growing expectations for conscious capitalism, ethical investing, and moral leadership. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Many business owners need to pay more attention to the financial planning opportunities and implications when starting, growing and successfully running their businesses. This all-inclusive course brings together closely held business owner specifics, focusing on critical structure and financial planning issues, such as identifying those issues that business owners need to keep on the radar. This session will help determine the goals and objectives of the business owner when selecting or changing a form of the organization concerning start-up costs, control over the operation of the business, personal liability for business operations, flexibility in the process of the company, business structure, continuity and compensation. Financial planning issues to be discussed include cash flow management and budgeting, risk management and insurance, investing, income tax, retirement and estate planning issues. Companion course: PFP Update: Issues, Exposures, and Developing Client Strategy 2024

Many leaders in business organizations of all sizes view the system of Internal Control almost purely as a protective security measure. A well-designed internal control system can and will drive all entity objectives which includes successful operations. This session uses information gathered from years of creating internal control systems as well as concepts from well-respected authoritative pronouncements and frameworks to illustrate the power of a strong and well supported control system as well as actions that can help establish such a system. Those that work with internal controls who are tasked with developing ways to improve operation level capabilities should strongly consider this session. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.