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Live Webcast Replay

Financial & Tax Accounting for Partnerships & LLCs

Total Credits: 4 including 4 Accounting - Technical

Average Rating:
ACPEN Tax Institute |  Accounting and Auditing
Steven C. Dilley, CPA, JD, PhD
Course Levels:
4 Hours
Never expires.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


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.

Basic Course Information

Major Subjects
  • Review of the Accounting Standards Codification and its application to partnerships and LLCs
  • Review of the OCBOA/Special Purpose Frameworks and their application to partnerships and LLCs
  • Review of the AICPA financial reporting framework for small and medium-sized entities
  • Financial vs. tax accounting for partnership/LLC capital accounts
  • Review of Section 704(b) substantial economic effect rules and their relation to financial accounting
  • The integration of financial accounting for partnerships/LLCs with the Form 1065
  • Completion of the Form 1065 Schedule M-1
  • Partnerships/LLCs as part of other entities 

Learning Objectives
  • To help understand how financial accounting applies in the partnership setting with special emphasis on accounting for capital accounts



Steven C. Dilley, CPA, JD, PhD's Profile

Steven C. Dilley, CPA, JD, PhD Related Seminars and Products

Steven C. Dilley, CPA, JD, PhD is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 36 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business. He has published numerous articles on these topics. In addition, Steve is a Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting and was nominated in 2004 for the "Educator of the Year Award." He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.


Thu, Nov 30, 2023 - 12:00pm to 03:41pm CST
Wed, Dec 06, 2023 - 02:00pm to 05:41pm CST
Tue, Dec 12, 2023 - 08:00am to 11:41am CST
Tue, Dec 12, 2023 - 06:00pm to 09:41pm CST
Fri, Dec 22, 2023 - 10:00am to 01:41pm CST
Fri, Dec 29, 2023 - 12:00pm to 03:41pm CST
Wed, Jan 03, 2024 - 02:00pm to 05:41pm CST
Sat, Jan 13, 2024 - 08:00am to 11:41am CST
Tue, Jan 23, 2024 - 10:00am to 01:41pm CST
Fri, Feb 09, 2024 - 12:00pm to 03:41pm CST
Mon, Feb 19, 2024 - 02:00pm to 05:41pm CST
Wed, Feb 28, 2024 - 08:00am to 11:41am CST
Fri, Mar 01, 2024 - 10:00am to 01:41pm CST
Sat, Mar 09, 2024 - 12:00pm to 03:41pm CST
Fri, Mar 22, 2024 - 02:00pm to 05:41pm CDT
Thu, Apr 04, 2024 - 06:00pm to 09:41pm CDT
Mon, Apr 08, 2024 - 08:00am to 11:41am CDT
Fri, Apr 19, 2024 - 10:00am to 01:41pm CDT
Fri, Apr 26, 2024 - 12:00pm to 03:41pm CDT

Additional Info

Basic Course Information

Prerequisites Basic working knowledge of financial accounting
Advanced Preparation


Designed For CPAs working with partnerships and LLCs and members in business and industry seeking to keep their knowledge current
Original Recording Date 05/2023
Yellow Book No
Course Developer Federal Tax Workshop
Date Added to Catalog 02/09/2023

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
Instructional Delivery Method Live Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.



Overall:      4.6

Total Reviews: 36


James W

"Dilley presentation was excellent and informative."

Susan H

"Great teacher!"