Spring Splash 2020 is going virtual, and we’re offering you more options than ever.

SCACPA is delivering our planned tracks of Tax and A&A via livestream on May 14-15.

You can earn 16 hours of credit by selecting either track or choose a mix of sessions based on your specific needs.

Better yet: If you only want a few of the sessions, you can choose them individually.

You can download a PDF version of the Virtual Spring Splash course descriptions and links to classrooms here.

Registration for Virtual Spring Splash: Two Days, Two Tracks

Members can register for the full Virtual Spring Splash suite of Tax/A&A courses, (LI4113), which will cost 16 hours from your CPE Bank. Once you are registered, you can go to your My Events page and select your 10 sessions.

Note: You might be asked to reset your password if you have not logged in since April 24, 2020, when our website was updated.

Thursday, May 14, 2020 (8:00 a.m. start time)-Friday, May 15, 2020 (4:45 p.m. adjournment)

A la Carte Options: You can also register for individual courses if you do not elect to take the entire Virtual Spring Splash package.

And We’re Not Done Once Virtual Spring Splash is Over!

An Important Note on Where to Watch Your Virtual Spring Splash Session:

For SCACPA to offer dual tracks of Tax and A&A requires something we’re attempting for the first time: running two Classroom pages on our website simultaneously.

All our Tax sessions will be viewed through the original SCACPA Classroom page: https://www.scacpa.org/classroom

All our A&A session will be viewed through the new SCACPA Classroom Two page: https://www.scacpa.org/classroom-two

If you are attending just one particular track, this should be very easy.

If you are alternating your Virtual Spring Splash experience by switching between Tax and A&A courses – or only taking selected courses and not the entire Virtual Spring Splash experience – we ask that you keep in mind that Tax sessions are in the original Classroom and that A&A sessions are in Classroom Two.

To help you out, we’ve included a link in each session description below to which page you enter into your browser.

IMPORTANT NOTES ABOUT VIEWING VIRTUAL SPRING SPLASH:

About watching multiple sessions in a row: During the breaks between sessions, please make sure to refresh your browser. Our servers require that we periodically clear our cache, so in order to properly watch each new session, you must refresh your browser.

About course codes: Please remember that for livestream events, you must pay attention to and keep track of the event codes that will appear on your screen. A new one will appear every 25 minutes (and we suggest jotting them down in case you lose them should your browser refresh). At the END of the event you will need to submit these codes along with your full name, e-mail address, and phone number. This is the only way you will receive credit for this course.

About your choice of web browser: The SCACPA Classrooms are optimized for the latest editions of Firefox, Chrome and Microsoft Edge. You will encounter difficulties if you use Internet Explorer – or the page might not load at all. Please remember in advance to view your courses on Firefox, Chrome or Microsoft Edge, and NOT Internet Explorer.

If you still think you need help in how to take a SCACPA online course, or if this is your first time trying it, here’s a complete tutorial:

Thank you for your cooperation, and enjoy your sessions!

VIRTUAL SPRING SPLASH DAY ONE:

Thursday, May 14

SESSION A: 8:00 a.m.-9:40 a.m. (100 minutes)

TAX: Tax Planning with R&D Credits (Instructor: Ron Antal) (LITX50)

View LITX50 at the SCACPA Classroom One Tax Channel

Session description to come. Thank you for your patience as we arrange these many courses.

A&A: Best Practices in Presentation and Disclosure for Nonprofits (Instructor: Jennifer Louis) (LIAA50)

Minimize risk of noncompliance with recently effective or upcoming new accounting and financial reporting standards. Anyone involved in the preparation, use, or attest of non-profit financial statements (public accountants, nonprofit accountants, members of non-profit boards).

View LIAA50 at the SCACPA Classroom Two A&A Channel

SESSION B: 10:00 a.m.-10:50 a.m. (50 minutes)

TAX: IRC Sec. 451: Proposed Regulations on Revenue Recognition and Book/Tax Conformity (Instructor: Lynn Nichols) (LITX51)

View LITX51 at SCACPA Classroom One Tax Channel

The TCJA fundamentally changed how accrual-method taxpayers determine when to recognize income for federal tax purposes. Amendments to IRC Sec. 451 affect a broader cross section of taxpayers than any other change. The impact of those amendments is amplified by the potential interaction with recently revised financial accounting standards.

A&A: Compilations and Reviews and FS Preparation-Common Peer Review Issues (Instructor: Tom Pietras) (LIAA51)

View LIAA51 at the SCACPA Classroom Two A&A Channel

This session will enable you to discuss standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs). Designed for financial statement preparers. Objectives: Identify common mistakes in financial statement preparation.

SESSION C: 11:10 a.m.-12:25 p.m. (75 minutes)

TAX: Cost Segregation and Bonus Depreciation Update (Instructor: John Hanning) (LITX52)

View LITX52 at the SCACPA Classroom One Tax Channel

Learn to navigate the new bonus depreciation rules released in the Tax Cuts and Jobs Act of 2017 as well as the intricacies of the CARES Act of 2020. Designed for Tax, Public Accounting Professionals, Tax Attorneys, CFOs, financial advisors and other professionals in the real estate market.

A&A: Financial Statement Analysis: Communicating Results (Instructor: Bruce Nunnally) (LIAA52)

View LIAA52 at the SCACPA Classroom Two A&A Channel

Learn different ways that CPAs use financial statements, and common approaches to financial statement analysis. Using real-life examples, we will explore meaningful ways to present and communicate results of financial statement analysis.

Lunch Break (12:25 p.m.-1:25 p.m.)

SESSION D: 1:25 p.m.-3:05 p.m. (100 minutes)

TAX: Current Developments: Cases and Rulings (Instructors: Lynn Nichols and Mike Tucker) (LITX53)

View LITX53 at the SCACPA Classroom One Tax Channel

Even amid the rollout of COVID-19 loan programs, the IRS continues to issue Revenue Rulings, Revenue Procedures, Notices, FAQs, and Information releases. Federal courts continue provide interpretations of tax law and how it applies to individuals and businesses. This mid-year preview covers the information every tax advisor needs.

A&A: Analytical Procedures: A Practical Approach (Instructor: Jennifer Louis) (LIAA53)

View LIAA53 at the SCACPA Classroom Two A&A Channel

Strong analytical procedures are critical to high-quality and profitable audit engagements. Learn how to leverage preliminary and substantive analytic procedures to improve the effectiveness and efficiency of financial statement audits as well as and traps of applying an analytic approach to satisfy audit objectives.

SESSION E: 3:25 p.m.-4:40 p.m. (75 minutes)

TAX: Buying or Selling a Business: IRC Sec 1060 Allocation, Form 8594 and Required Elections (Instructor: Verne McGough) (LITX54)

View LITX54 at the SCACPA Classroom One Tax Channel

Gain a basic understanding of §1060 allocations of the purchase price in a business sale transaction, which transactions the section applies to, the mechanics of §338(h)(10) elections to treat stock sales as a sale of assets for tax purposes, and a Q2 2020 update on M&A transactions.

A&A: Common Deficiencies in EBP Audits and the New EBP Report (Instructor: Bruce Nunnally) (LIAA54)

View LIAA54 at the SCACPA Classroom Two A&A Channel

The bar has been raised for a benefit plan audit to be considered fully compliant with professional and Federal requirements. We’ll review common deficiencies from a professional standard and ERISA compliance standpoint, and will give an overview of workable solutions for those deficiencies.

VIRTUAL SPRING SPLASH DAY TWO:

Friday, May 15

SESSION F: 8:00 a.m.-9:40 a.m. (100 minutes)

TAX: COVID-19 to Cash: Working With Relief Program and Loss Rules (Instructors: Lynn Nichols and Brad Burnett) (LITX55)

View LITX55 at the SCACPA Classroom One Tax Channel

There are many questions to consider to help your client get the maximum benefits from a PPP loan. Might the client be better off with an EIDL loan? The work requires understanding of the program rules. What records will be required? What expenses will be eligible for forgiveness? When does the testing period begin and end?

Government A&A/Yellow Book: GASB Hot Topics – Upcoming Standards and Projects the GASB is Currently Working On (Yellow Book) (Instructor: Timothy Lyons) (LIAA55)

View LIAA55 at the SCACPA Classroom Two A&A Channel

Learn the current standards that the GASB has adopted, projects that the GASB is working on, and other items on the GASB’s technical agenda. It also includes discussion of a proposed standard that would delay implementation dates due to COVID-19.

SESSION G: 10:00 a.m.-10:50 a.m. (50 minutes)

TAX: South Carolina Tax Changes – How Recent Changes Will Impact Your Tax Filingsyou’re your Business (Instructor: Jason Pritchard) (LITX56)

View LITX56 at the SCACPA Classroom One Tax Channel

The session will cover recent federal and South Carolina tax laws as a result of the COVID-19 pandemic, potential legislative items, and key compliance considerations for 2019 and future returns. Designed for CPAs in public practice or those in industry who are responsible for tax compliance or forecasting tax costs.

A&A: Agreed Upon Procedures and Engagements (Instructor: Melisa Galasso) (LIAA56)

View LIAA56 at the SCACPA Classroom Two A&A Channel

AUPs are getting an upgrade. SSAE 19 was issued to address issues found in practice with AUPs. We’ll discuss how to properly perform AUP engagements with a focus on what is changing. Objectives include describing the procedures required in an AUP engagement.

SESSION H: 11:10 a.m.-12:25 p.m. (75 minutes)

TAX: Opportunity Zones: IRC Sec. 1400Z Two Years On (Instructor: Edward Renn, JD) (LITX57)

View LITX57 at the SCACPA Classroom One Tax Channel

Internal Revenue Code Section 1400Z is as unusual in its application as that code section number. Census tracts, not necessarily urban areas, define where a taxpayer with a capital gain can invest that gain and hope for an even greater tax favored profit.

A&A: Auditing Accounting Estimates (Instructor: Melisa Galasso) (LIAA57)

View LIAA57 at the SCACPA Classroom Two A&A Channel

We will examine the requirement for auditing estimates, how to determine if a change is an estimate or a change in principle or error correction and we’ll close with a discussion of the proposed changes to the auditing estimates standard.

Lunch Break (12:25 p.m.-1:25 p.m.)

SESSION J: 1:25 p.m.-3:05 p.m. (100 minutes)

TAX: Partnership and LLC Income Tax Accounting Issues: Contributions and Distributions of Property, Transfers of Partnership Interests (Instructor: David Peters) (LITX58)

View LITX58 at the SCACPA Classroom One Tax Channel

Partnership taxation can be an incredibly difficult part of the IRC, especially as it pertains to contributions, distributions, basis issues, and selling a partnership interest. This survey course is aimed at tax practitioners looking to go beyond the basics, or for advanced-level professionals seeking a refresher.

A&A: Audit and Attestation Standards Update (Instructor: Melisa Galasso) (LIAA58)

View LIAA58 at the SCACPA Classroom Two A&A Channel

The AICPA has been busy! This session will cover recently issued SASes, including numbers 134 through 141. We will cover changes to the auditors report, the 2019 Omnibus, new auditing standards for EBPs, other information included in annual reports, materiality, the delays related to COVID-19, and more.

SESSION K: 3:25 p.m.-4:40 p.m. (75 minutes)

TAX: Who Is a Dependent and Why Does It Matter? (Instructor: David Peters) (LITX59)

View LITX59 at the SCACPA Classroom One Tax Channel

Figuring out who is a dependent is a task most practitioners might not think of much. However, when the dependent is a college student or there is a multiple support agreement involved, these seemingly simple issues get tough. This course will explore the nuances, and why it matters after the TCJA.

A&A: What’s Going On at the FASB Update (Instructor: Melisa Galasso) (LIAA59)

View LIAA59 at the SCACPA Classroom Two A&A Channel

This course will cover the Accounting Standards Updates that will be effective in the near future. We’ll also take a high-level look into how to prepare for the key financial reporting change to leases and financial instruments standards.

END OF DAY TWO

VIRTUAL SPRING SPLASH ADJOURNED

Thank you for participating in SCACPA’s Virtual Spring Splash. More importantly, thank you for your incredible support as we continue to develop ways to get you the information you need as quickly and easily as possible. We look forward to your feedback, and let us know what else you think we should be doing or could be doing better.

The SCACPA Staff

Reminder: Dues Renewal for the 2020-21 membership year is open! Your membership fortifies SCACPA’s ability to protect your interests through our legislative efforts and vocalize your needs. Also, SCACPA has introduced many new benefits including group health insurance, auto and home insurance, long-term care and pet health insurance. The best is yet to come! Go to www.scacpa.org/dues or call 803.791.4181, and the SCACPA staff will be happy to assist.

Keep up with all SCACPA updates specific to the COVID-19 situation at www.scacpa.org/covid-19-response-and-resources