Tax Seminars 2017: 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. CPA licensees are rewarded CPE credits if they participate in formal learning programs which can contribute to maintenance and development of their professional competence, and fall within any of these subject areas: accounting, auditing, taxation, 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. Accounting subject matter may include accounting principles and authoritative pronouncements that are issued by governing and standard setting bodies and other related subjects classified basing on accounting discipline. Accounting subject covers accounting concepts and principles, financial reporting standards and requirements, measurement, preparation and compilation, internal controls for non-profit and profit entities, and recognition and presentation of specific financial statement items. For auditing, this subject area includes financial statements examination and reporting, review, and examination of administrative and internal controls 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. Tax compliance core topics include Internal Revenue Service examination, ruling, requests and protests, and tax return preparation and tax reviews. It also involves tax planning basing on applicable tax rules and understanding tax implications of complex or unusual transactions. Taxation programs found on CPE seminars and classes may include application of tax rules to different types of tax payers and forms, return preparation, tax-exempt organizations, tax theory and research, types of taxpayers, specialized taxes, examinations of tax authorities, rulings and appeals, employee compensation, tax accounting and tax deferral plans. When it comes to advisory services, this CPE approved subject matter may include the design, analysis, control, evaluation and implementation of systems that may generally affect the planning, organizing and controlling of any stage of activity in a nonprofit enterprise or business.Events Tips for The Average Joe