Tax Seminars 2017: CPE Credits for Taxation Subject Area In accordance with Section 7409 of New York State Education Law as well as Section 70.6 of the Regulations of the Commissioner of Education, the Education Department registers sponsors who award CPA licensees Continuing Professional Education (CPE) credits for formal programs participation. CPE credits are rewarded to different formal learning programs that contribute to maintenance and development of a CPA licensee’s professional competence, and fall within any of these subject areas: accounting, auditing, taxation, advisory services, specialized knowledge and applications related to specialized industries, and ethics. However, CPE credit is not given for those who engage in programs that concentrate on marketing or improving profitability of professional services or accounting firms. Now let us talk in detail the different CPE approved subject areas used in CPE classes and seminars. For CPE accounting courses, these are primarily involved in focusing on the development of the professional knowledge and skills basing on accounting processes, accounting principles, comprehensive basis of accounting and financial reporting. Accounting subjects include accounting principles, authoritative pronouncements and other related subjects classified basing on accounting discipline, that are issued by governing and standard setting bodies. The accepted topics under accounting subject may include accounting concepts and principles, financial reporting standards and requirements, internal controls for non-profit and profit entities, measurement, preparation and compilation, and recognition and presentation of specific financial statement items. When it comes to auditing, this subject area would include review and examination of administrative and internal controls, financial statements examination and reporting, 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 subject matter, on the other hand, covers international, state,federal and local tax, tax planning for individuals, and tax planning for real estates, businesses and trusts. Tax compliance core topics include Internal Revenue Service examination, ruling, requests and protests, and tax return preparation and tax reviews. Taxation a subject also covers tax planning, tax rules, and a thorough understanding tax implications of complex or unusual transactions. The different programs under taxation programs include the application of tax rules to the different types of taxpayers and forms, tax theory and research, types of taxpayers, specialized taxes, return preparation, tax-exempt organizations, examinations of tax authorities, rulings and appeals, employee compensation, tax accounting and tax deferral plans. Advisory services involve designing, analyzing, evaluating, and implementing the systems affecting the planning, organizing and controlling of any phase of activity in a nonprofit enterprise or business.News For This Month: Activities