Upon successful completion of this course, participants will be able to:
- Chapter 1
- Identify the requirements specific to practice in Colorado.
- Chapter 2
- List the six guiding principles in the AICPA Code of Professional Conduct.
- Explain the difference between the principles and the rules.
- Discuss how to apply the rules to specific actions common to the CPA community.
- Chapter 3
- Discuss how rule interpretations apply to the rules themselves.
- Discuss the interpretations as they apply to your practice as a CPA.
- Discuss how you would apply the interpretations in a variety of specific circumstances.
- Describe the difference between principles, rules, and interpretations.
- Chapter 4
- Describe the differences between rulings and rules.
- Discuss how various rulings apply to your practice.
- Explain the rationale behind the rulings.
- Relate the rulings to the applicable principle.
- Chapter 5
- Discuss the Internal Revenue Service Requirements as outlined in Circular 230.
- Describe the applicable AICPA guidance on tax practice.
- Apply the AICPA standards and the IRS rules to common ethical dilemmas faced by CPAs in tax practice.
- Chapter 6
- Discuss AICPA guidance for Management Accountants.
- Identify ethical guidance promulgated by the Institute of Management Accountants (IMA).
- Compare and contrast the guidance issued by IMA and the AICPA.