CPE Credit Hours: 2
Field of Study: Accounting
Publication date: January 2023
The objective of this course is to review the accounting and financial disclosures related to two recent changes from legislation: the Employee Retention Credit (ERC), and the Pass-Through Entity (PTE) Tax.
Topics include: An overview of the ERC rules; models to use to account for the ERC; comparing use of the ASC 958 model with the IAS 20 model to account for the ERC; disclosures required for the ERC, including disclosures found in newly issued ASU 2021-10; fixing ERC presentation and disclosure errors; presenting the ERC on tax-basis financial statements; overview of the Pass-Through Entity (PTE) Tax election; GAAP accounting for the PTE tax; GAAP disclosures for the PTE tax; presenting the PTE tax on tax-basis financial statements, and more.
This is a self-study CPE course.
Program level: Overview
Prerequisites: General understanding of accounting, financial reporting, auditing, and compilation and review standards
Advanced Preparation: None Required
Minimum Final Examination Passing Grade: 70%
Maximum Time Allowed To Complete Program: One Year From DatE of Purchase
