All pre-conference workshops are in-person only, held on Dec 6th, 2017.
101. Fundamentals of Construction Accounting and Auditing
8:00 AM — 12:00 PM
Speakers: James Miller, Director, Marcum LLP and Russ Rigler
This session will provide an understanding of fundamental concepts of construction accounting and auditing. Participants will:
1. Learn basics on construction accounting, including understanding users of financial statements
2. Learn risks associated with auditing construction contractors, and applying risks to audit plan and procedures
104. Fundamentals of Construction Tax
1:00 PM — 5:00 PM
Speaker: Barry Fischman
This presentation will focus primarily on the fundamentals of construction taxation, which include:
* Internal Revenue Code Section 460
* Large and small contractors
* Income tax accounting methods available to contractors
* Changes in accounting methods
* Tax law changes and updates impacting the contractor
Attendees will become familiar with the significant book (GAAP)/tax differences inherent in accounting for construction contracts. Attendees will learn to recognize revenue deferral opportunities that can help their clients/employers better manage cash flow attributable to tax obligations
102. Partnership Allocations, Partnership Distributions, and the Distribution Anti-abuse Rules.
9:00 AM — 12:00 PM
Speaker: Howard Abrams
This session will cover the foundational parts of Subchapter K, partnership allocations and partnership distributions. The distribution rules are now overlaid with a complex set of anti-abuse rules, and those will be covered as well. The emphasis will not be on planning but on understanding these provisions and should be useful both for planning and compliance. Questions from the audience are welcome.
103. Fundamentals of Leasing - What You Need to Know from an Accounting, Tax and Business Perspective
1:00 PM — 4:00 PM
Speakers: Jim Cochran, Managing Principal, Aspen Capital Partners, LLC; Justin Frenzel, Senior Manager, PwC; Joyce Welch, Managing Director, Deloitte Tax LLP
Lease – The Complete Picture: practical tax, accounting and potential business implications of leasing transactions from both the Lessor and Lessee perspectives.