ACCOUNTING CHALLENGES IN THE CURRENT ECONOMIC CLIMATE (ACCC) - 4 hrs. - The current recession is posing all sorts of challenges for accountants that have not been experienced in recent periods of economic expansion. The course overviews how standards involving valuation and impairment of financial and non-financial assets as well as goodwill create reporting and disclosure responsibilities for preparers and auditors.

CONVERSIONS, RECHARACTERIZATIONS, AND RELATED PLANNING ISSUES UNDER THE PENDING TAX LAW CHANGES (CONV) 2 hrs. This course explains the rules in 2009 and 2010 and subsequent years for rollovers or conversions of regular IRAs and tax-qualified plans to Roth IRAs in light of the elimination of the $100,000 modified AGI limit for conversions. This includes who can convert, what can be converted, what to do about failed conversions, the tax consequences of a conversion, as well as how the recharacterization election works and how to use the election to minimize tax costs. The course concludes with an analysis of the financial math associated with the decision to convert and presents figures and tables to help estimate the costs and benefits of a conversion election.

COMPILATION AND REVIEW OF PERSONAL FINANCIAL STATEMENTS: WHAT THE CPA NEEDS TO KNOW (CRFS) 2 hrs. - This course provides a summary of the major practice issues involved in the preparation of personal financial statements, which clients may need them, and the potential pitfalls the CPA needs to be aware of when conducting such engagements.

GENERATION-SKIPPING TRANSFER TAX: UNDERSTANDING THE ISSUES FOR LARGER ESTATES (ESTT) 2 hrs. - The purpose of this course is to explore the generation-skipping transfer tax with an emphasis on identification of transfers and the calculation of strategies and techniques to minimize taxes.

HANDBOOK FOR MASTERING BASIS, DISTRIBUTIONS, AND LOSS LIMITATION ISSUES FOR S CORPORATIONS, LLCS, AND PARTNERSHIPS (HMBI) 8 hrs. - The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

INVESTMENT AND RETIREMENT PLANNING IN TIMES OF ECONOMIC CRISIS AND POLITICAL AND TAX-LAW CHANGE (IRPC) 2 hrs. - Uncertainty and volatility in the financial markets and the economy, as well as in the political, legislative, and tax policy response to this uncertainty and volatility create both risks and opportunities for investors, especially those approaching retirement. This course gives context to the current financial and economic environment and provides guidance with respect to investment and retirement planning in times of financial, economic, political, and tax uncertainty.

REVENUE RECOGNITION: WHERE WE ARE, AND WHERE WE ARE HEADED (RREC) 2 hrs. - Revenue is probably the most important number in the financial statements. It is also one of the most difficult to estimate. Among public companies, studies have shown that revenue misstatements are a regular and ongoing problem. Standard setters have struggled to keep pace with the ways in which innovative business models and marketing arrangements have left guidance essentially outdated and subject to structuring. The course examines the principles currently used, the problems they give rise to and the proposal for an alternative approach which will revise revenue reporting from the ground up.

WHEN TO START TAKING SOCIAL SECURITY BENEFITS (STSS) 2 hrs. - An individual can begin receiving Social Security benefits as early as age 62 or as late as age 70. The later someone starts, the higher the level of benefits. Most individuals apply for Social Security benefits before attaining Full Retirement Age (FRA), which is age 65 for people born before 1938. Some people begin benefits as soon as they retire because they do not have sufficient income from sources other than Social Security (such as IRA and 401(k) distributions) to support their lifestyle. However, many people can choose to delay the beginning of benefits. For these individuals, the question is: Is it worth the delay in receiving benefits to receive a higher monthly payment? This course presents strategies to maximize the present value of expected benefits and identifies factors that should influence this decision. The analysis for singles is relatively simple, while for married couples it becomes more complex.

UNDERSTANDING FIN No. 48: A PRACTICAL GUIDE TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS (AUTP) 2 hrs. - This course provides the CPA with an in-depth understanding of accounting for uncertain tax positions and guidance on implementing this difficult and complex standard.

GENERAL ETHICS FOR ACCOUNTANTS (EGEN) 4 hrs. - This course is designed to provide practitioners with a basic understanding of ethics, with a focus on managing ethics in the workplace. It also covers the AICPA’s Code of Professional Conduct, Statements on Standards for Consulting Services, and the disciplinary systems within the accounting profession.

FREE CASH FLOW: A TOOL TO MANAGE YOUR BUSINESS MORE EFFECTIVELY (FCFL) 4 hrs. - The purpose of this course is to provide accounting and financial professionals with a firm understanding of what free cash flow is, and how it can be used as a financial metric to make better business decisions.

INDEPENDENT CONTRACTOR VS. EMPLOYEE STATUS: USING FORM SS-8 TO FIND THE ANSWER (FSS8) 2 hrs. - One of the advanced and critical issues for all entities is the proper classification of employees versus independent contractors. It is critical that an employer correctly determine whether the individuals providing services are employees or independent contractors. Firms and workers file Form SS-8 to request a determination of the status of a worker for purposes of federal employment taxes and income tax withholding. This course studies the history of the issue, the proper forms utilized today, and form completion issues.

GUIDE TO ASSETS AND STOCK SALES, MERGERS AND REORGANIZATIONS (MERG) 8 hrs. - The purpose of this course is to understand the technical tax issues and planning in various types of business acquisitions for C Corporation and S Corporations.

STATUTORY FRINGE BENEFITS FROM A TO Z (STFB) 2 hrs. - This two-hour course covers the specific fringe benefits under §132 that provide tax-advantaged benefits to employees and examines the details of each category.

WHAT DO I NEED TO KNOW NOW ABOUT IFRS? THE CURRENT STATE OF PLAY (WINI) 2 hrs. - This course provides a summary of the current state of the transition from U.S. based GAAP to IFRS and the major practice issues involved in making this transition. The course covers both the regulatory environment and the major accounting issues that need to be addressed before U.S. companies can make a smooth transition from U.S. GAAP to IFRS.