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Tax Seminars 2017: Let’s Learn More About CPE Credits for Taxation Subject Area

In accordance with Section 70.6 of the Regulations of the Commissioner of Education and Section 7409 of New York State Education Law, those CPA licensees participating in formal programs of learning are given awarded by the Education Department CPA licensees Continuing Professional Education (CPE) credits. Those CPA licensees who are able to participate in formal learning programs which can contribute to maintenance and development of their professional competence receive CPE credits, and it fall within any of these subject areas: auditing, taxation, accounting, advisory services, ethics and specialized knowledge and applications related to specialized industries. Remember though that CPE credits are not given to those CPA licensees who only focus on marketing or improving the profitability of professional services or accounting firms.

Now let us discuss the details of various CPE approved subject areas used during CPE seminars and CPE classes. For accounting CPE courses, these are designed to focus on developing the professional knowledge and skills in relation to accounting principles, accounting processes, comprehensive basis of accounting and financial reporting. Standard and governing regulatory bodies issue accounting subject matters such as accounting principles, authoritative pronouncements and other related subjects classified basing on accounting discipline. The accepted topics under accounting subject may include accounting concepts and principles, financial reporting standards and requirements, internal controls for non-profit and profit entities, measurement, preparation and compilation, and recognition and presentation of specific financial statement items. When it comes to auditing, this subject area would include review and examination of administrative and internal controls, financial statements examination and reporting, and operations or government programs. Auditing subject matter covers financial statements, computer audits, government audits, audit theory and philosophy, review services, auditing standards, evaluation of internal controls, audit procedures, audit sampling, and securities and exchange commission audit requirements and activities.

Taxation would cover local, federal, state and international tax compliance, tax planning for individuals, and tax planning for estates, trusts, and businesses. The different tax compliance topics are Internal Revenue Service examination, request, ruling and protests, and tax return reviews and preparation. Tax planning involves focusing on the application of tax rules to different transactions most especially understanding tax implications of complex and unusual transactions. Taxation programs include tax theory and research, types of taxpayers, application of tax rules, specialized taxes, examinations of tax authorities, return preparation, tax-exempt organizations, rulings and appeals, employee compensation, tax accounting and tax deferral plans. Advisory services involve designing, analyzing, evaluating, and implementing the systems affecting the planning, organizing and controlling of any phase of activity in a nonprofit enterprise or business.Why not learn more about Events?

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