Insights: Webinar

New Rules, New Opportunities

Course Description:
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) recently issued ASC 606 – Revenue from Contracts with Customers, which outlines new revenue recognition standards for businesses across all industries, including manufacturing and distribution. These rules will impact when and how businesses recognize revenue for financial accounting and tax purposes, and are effective for some businesses beginning in 2018. In addition, the new Section 199A rules found in the Tax Cuts and Jobs Act have the potential to impact manufacturers and distributors. Planning now for these new rules will provide the best outcome for success in finding new opportunities.

Learning Objectives:
  - Discuss the new revenue recognition rules
  - Outline the changes between the old and new rules
  - Identify the potential financial accounting and tax impacts of the changes
  - Review Section 199A and how it impacts manufacturers and distributors
  - Discuss opportunities within the manufacturing and distribution industry

Presenters:
Adam Sweet, JD, LLM, Principal
Adam has extensive knowledge in the area of partnership tax including interpreting partnership agreements, allocation and distribution provisions, and issuing profits interests. He is also experienced with both the buying and selling sides of domestic and foreign joint ventures, and he assists with IRS controversy matters, including IRS exams and appeals hearing.

Andrea Mouw, JD, Principal
Andrea has more than 12 years of tax experience including federal, state, and international tax issues. She provides technical analysis and assists clients in resolving accounting method issues related to income and expense recognition, capitalization, cost recovery and inventories, including identifying and adopting appropriate accounting methods and filing accounting method change requests (Form 3115). Andrea also provides guidance regarding the Section 199 domestic manufacturing deduction and is familiar with the rules regarding the taxation of financial products and alternative investments.

CPE Information:
CPE Credits: 1 Hour
CPE Category: Taxes
Level: Basic
Delivery Method: Internet based Group

Additional Information:
No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

CPE Sponsors

 

Latest Insights

September 20, 2018
Firm News
Eide Bailly LLP announced the winners of its 2018 Nonprofit Resourcefullness Awards, recognizing creative and sustainable revenue ideas from nonprofits in Arizona, Colorado, Minnesota, North Dakota and Utah.
September 19, 2018
Article
The IRS has started sending out Letter 5699 asking businesses to verify if they should have filed Forms 1094/1095-C. These forms are required for all ALEs.
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in Pennsylvania? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into Pennsylvania tax filings.
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in Nevada? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into North Dakota tax filings. This webinar will cover registration,…
September 19, 2018
Recorded Webinar
Are you considering doing business or having employees in North Dakota? Have you had issues with your state tax filing? Join our state and local tax team for some helpful insights into North Dakota tax filings. This webinar will cover registration,…
September 18, 2018
Article
As the largest tax reform legislation in the past 30 years becomes reality, it is important to stay up-to-date on planning opportunities and how reform may impact you and your business. Our Tax Reform: Practical Insights examples aim to break down…
Find A Location