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Presented in partnership with the Wayne State University Department of Accounting
As a tax professional, you have enough on your plate (and filling your work week) without having to keep track of updates outside the realm of tax. Which is why we’ve aggregated them in one place just for you.
PRICING DETAILSRegister early to take advantage of the best price! Please note, discounted pricing is already reflected in the online price. No promo code is needed.Through May 31: $210 MICPA Members/ $360 Non-Members June 1 - June 14: $230 MICPA Members/ $380 Non-MembersJune 15 - June 28: $250 MICPA Members/ $400 Non-Members
Tax professionals seeking the latest accounting & auditing updates.
After registering for this event, you can customize your sessions via 'My Registrations'
Understanding tax law changes can be pretty challenging. Accounting for them even more so.
With the recent release of the FY 2023 Biden administration proposed budget and the U.S. Treasury’s related Green Book, which discusses the revenue producing proposals of the budget, we now have a feel of where federal tax legislation may be going. Now we can assess the financial reporting implications of these initiatives.
In this section, we’ll review the details of the major drivers of increased federal corporate tax revenues found in the FY 2023 budget proposal, such as the increase in the Federal C Corporation tax rate to 28%. We’ll also explain the budget’s international tax implications and how these proposals dovetail with current OECD initiatives involving foreign-derived earnings. Lastly we’ll explore the impact of these changes in tax laws and rates should be accounted for under ASC 740, Accounting for Income Taxes.
Richard Daisley, CPA - Vice President - Accounting & Auditing Content, Surgent CPE, Radnor, PA
09:30 AM - 10:20 AM
Asset Tracing: Finding the Truth Behind the NumbersWhat happens when a fiduciary uses entrusted funds for their own benefit? How do you reconstruct financial records from limited information? What information will assist in a legal case against a fiduciary? This case study will teach you methods to trace assets and reconstruct financial records. Even if you aren’t a forensic accountant, you are in a position to catch red flags you tax and audit clients may miss, and you could mitigate their losses.Brandi Steinberg, CPA, CFE – Forensic Manager, IAG Forensics & Valuation, Marietta, GA
Internal Controls: Keys to Avoiding the Worst-Case ScenarioAssertions made by financial statements must be verifiable in order to safeguard a company’s assets. When internal controls are inadequate, however, the risk of fraud and financial misstatement grows. Avoid the worst-case scenarios by using financial analysis to spot heightened areas of risk and determine which tools can be used to keep financial statements accurate.Neely Duncan, CPA, CFE FCPA – Partner, BKD, LLP, Dallas, TX
10:30 AM - 11:20 AM
In Retrospect: Revenue RecognitionThe time has come for a retrospective glance at the recently implemented Revenue Recognition Standard for private companies regarding treatment of revenue from contracts with customers. Learn from the most common mistakes made while implementing these new standards and what to watch out for moving forward.Tricia Katebini, CPA, MBA – Partner, Audit, GRF CPAs and Advisors, Bethesda, MD
11:30 AM - 12:20 PM
Analyze This! No Really, Can You Actually Analyze This Data?Data analytics are increasingly important to supporting a company’s top initiatives and providing important insight into risks, profitability and other critical issues. However, without a clear strategy for use you could wind up with just as many problems as before. Dive into data analytics and how to effectively disseminate their meaning to reduce inefficiencies, make intelligent decisions quickly, deliver measurable value to your organization’s bottom line and more.Gregory H. Soule, CPA, CFE – Partner, AHP, Bloomfield Hills
On the Nature of Independence… As many firms are now taking on advisory services, it is important to remember the various independence rules set forth by the AICPA, SEC and PCAOB. For example, accountants that provide attestation or assurance services may confront a conflict of interest if also providing investment advisory services. Let’s refresh on the rules and regulations that govern independence and learn to recognize the types of relationships and financial interests that can pose a threat to it. Toni T. Lee-Andrews, CPA, PFS, CGMA – Director, Professional Ethics, AICPA, Durham, NC
02:10 PM - 03:00 PM
Remote Controls: Adjusting for the Hybrid WorkplaceThe hybrid work environment is here to stay, but are internal controls keeping pace with the rapidly changing business world? Find out how to adjust to a remote environment, from assessing audits to testing internal controls, all from the remote office perspective.Steven J. Guarini, CPA – Partner, Cohen & Company, Detroit
03:10 PM - 04:00 PM
04:10 PM - 05:00 PM
Accounting for ESG? There’s Not a GAAP for That…Public companies are feeling the pressure to take stances on environmental, social and governance issues (ESG), as shareholders, public opinion, clients and customers continue to assert greater expectations. However, figuring out how to effectively navigate ESG initiatives that drive value creation can be tricky. Explore the many facets of ESG accounting, including how to identify stakeholders, develop metrics, understand reporting frameworks, develop internal reporting, and more.Mary Adams – Founder, Smarter Companies, Boston, MAMarcy Twete – Founder & CEO, Marcy Twete Consulting, Minneapolis, MN Source
Cannabis Attestation in MichiganCannabis is a growing industry across the country, but each state has its own requirements for companies seeking new licensure or relicensure. Join our speaker for a review of cannabis attestation rules in Michigan, changes to state law impacting this area, and how to avoid the most common errors in applications and attestation.Kaleb M. Grapp, CPA – Founding Partner, Grapp Lerash, Saginaw