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Partnership Accounting Essentials With Efficient Financial Management

PARTNERSHIP ACCOUNTING ESSENTIALS WITH EFFICIENT FINANCIAL MANAGEMENT

Cost Free
Presentation Length 1.0 hour

Recorded DateNovember 1, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

In this comprehensive course, attendees will discover the essential principles and practices of partnership accounting. Attendees will gain a deep understanding of key terminology, essential accounting principles, and critical Internal Revenue Code regulations, specifically IRC Subchapter K, Section 704 a-c. These regulations significantly influence the specialized accounting procedures unique to partnerships, and this course will help you learn how to maintain precise capital accounts for partners separately, ensuring accuracy and compliance with partnership accounting standards.

Join Lee Nalley, CPA, CFA on a deep dive into a real-world case study to test your knowledge of this topic. During this webinar, attendees will also explore the Forest Systems accounting platform, which seamlessly integrates tax, book, and fair market value reporting. Experience firsthand the efficiency gains this innovative system offers, empowering you to optimize financial management for partnerships.

Unlock the expertise needed to excel in partnership accounting and streamline your financial reporting processes with confidence.

Learning Objectives:


  • Evaluate a robust foundation of partnerships from a legal, tax, and accounting perspective

  • Contrast the advantages and disadvantages of partnership structures versus other legal structures

  • Evaluate IRC Subchapter K and Sections 704 a-c. and other accounting topics applicable to partnerships and recognize the influence they have on Partnership Accounting

  • Give examples of how Forest System's solution is tailored to ease the burden of partnership accounting for practitioners

  • Recognize the principles learned through a case study

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Lee Nalley, CPA, CFA

Forest Systems, Inc.
Chief Client Success Officer
[email protected]
(877) 724-4170

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Lee Nalley is a CPA and CFA charter holder. Lee spent the first five years of his career in public accounting starting with audit services at Ernst & Young followed by M&A advisory services with PwC. After obtaining his CFA charter, Lee transitioned to and spent seven years in investment banking with Suntrust Robinson Humphrey, later known as Truist Securities Inc. From there, Lee helmed the Chief Financial Officer position for a single family office out of Atlanta, GA focused primarily on multifamily real estate development before branching out to launch his own real estate investment company. While continuing to manage real estate investments, Lee has most recently taken on the role of Chief Client Success Officer for Forest Systems, Inc.

About Our Presenter

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Forest Systems, Inc is a cloud based software provider of a highly functional yet simple accounting system enabling practitioners to easily handle complex accounting areas like consolidations; tax basis, book basis, and fair market value basis accounting; partnership accounting; and more.