Month: February 2023

Departmentalized Accounting Class

Posted on | by Steve M. Windham, LLM, MBA, EA

Hello Everyone,

 

The Departmentalized Accounting class starts on Tuesday, October 18, 2022 at 6:00 PM.  The end time will be at approximately 9:00 PM.

The Zoom information and URL to attend the class is:

Steve Windham is inviting you to a scheduled Zoom meeting.

Topic: Departmentalized Accounting
Time: Oct 18, 2022 06:00 PM Pacific Time (US and Canada)
Every week on Tue, 16 occurrence(s):

Oct 18, 2022 6:00 PM
Orientation.
(Contact Hours = 1.00 Hour.  Students = ARM)

Oct 25, 2022 6:00 PM
Cancelled--Students waiting on books.

Nov 01, 2022 6:00 PM
Cancelled--Student sick.

Nov 08, 2022 6:00 PM
Cancelled--Student sick.

Nov 15, 2022 6:00 PM
Cancelled--Steve business trip.

Nov 22, 2022 6:00 PM
Reviewed Lesson 1-1 and 1-2, including: ETHICS IN ACTION--Page 6, FORENSIC ACCOUNTING--Page 10 (Excel File), and GLOBAL AWARENESS--Page 18; Working Papers pages 1, 2, 3, 5, & 6.
(Contact Hours = 3.00 Hours.  Students = AR)

Nov 29, 2022 6:00 PM
Working Papers pages 7, 8, 9,10, 11, & 12.  Reviewed Lesson 1-3, including: WHY ACCOUNTING--Page 20 and EXPLORE ACCOUNTING--Page 30.
(Contact Hours = 3.00 Hours.  Students = ARM)

Dec 06, 2022 6:00 PM
Reviewed remainder of Lesson 1-3.  Where's my missing dollar problem; Working Papers pages 13, 14, 15, 16, 17, & 18.  Review next week's lesson.
(Contact Hours = 3.00 Hours.  Students = ARM)

Dec 13, 2022 6:00 PM
Multiple people sick--class cancelled.

Dec 20, 2022 06:00 PM
Christmas break--no class.

Dec 27, 2022 6:00 PM
Textbook 1-1 Application Problem, Page 31 (Working Papers Page 19), Textbook 1-C Challenge Problem, Page 33 (Working Papers Page 31), Textbook Auditing for Errors, Page 35 (click here for spreadsheet).
(Contact Hours = 2.00 Hours.  Students = ARM)

Jan 03, 2023 6:00 PM
Textbook, Pages 36-45.  Discuss: Ethics in Action, Page 39 and Financial Literacy, Page 44.  Working Papers -- Study Guide 2, Pages 43-45.
(Contact Hours = 3.00 Hours.  Students = ARM)

Jan 10, 2023 6:00 PM
Class cancelled -- S sick.

Jan 17, 2023 6:00 PM
Textbook 2-1 Work Together, Page 46 (Working Papers Pages 47-49).
(Contact Hours = 2.00 Hours.  Students = RM)

Jan 24, 2023 6:00 PM
Class cancelled -- R in Hawaii.

Jan 31, 2023 6:00 PM
Textbook, finish 2-2, including Chapter Summary, Page 57, Explore Accounting, Transfer Pricing, Page 57, and 21st Century Skills, Page 61.
Textbook 2-1 On Your Own, Page 46 (Working Papers, Pages 50-52).
(Contact Hours = 3.00 Hours.  Students = ARM)

February 06, 2023 6:00 PM
Discuss prior week work.
(Contact Hours = 0.75 Hours.  Students = ARM)

February 13, 2023 6:00 PM
No class.

February 20, 2023 6:00 PM
Rescheduled for February 21, 2023 6:00PM because Steve was travelling.

February 21, 2023 6:00 PM
Class cancelled -- one of the students was sick.

February 27, 2023 6:00 PM
Review 3-1 (Pages 64-65); Ethics in Action (Page 64); and Global Awareness (Page 65).
Short class due to tax season.
(Contact Hours = 1.00 Hours.  Students = ARM)

March 06, 2023 6:00 PM
No class.

March 13, 2023 6:00 PM
Review 3-1 (Pages 66-73); Forensic Accounting (Page 72).
Crazy Eddie Videos on youtube.com.
Audit your understanding (Page 74).
Work Together 3-1, Page 74 (Pages  89-90 in Working Papers).
On Your Own 3-1, Page 74 (Pages 91-92 in Working Papers).
(Contact Hours = 3.00 Hours.  Students = ARM)

March 20, 2023 6:00 PM
Review 3-2 (Pages 76-82).
Audit your understanding (Page 83).
Why Accounting?  "Executive Compensation" (Page 82).
Audit your understanding (Page 82).
Work together 3-2, Page 83 (Pages 93-94 in Working Papers).
On your own, Page 83 (Pages 95-96)... Started, but did not complete.
(Contact Hours = 3.00 Hours.  Students = ARM)

March 27, 2023 6:00 PM
Class cancelled -- Steve had COVID.

April 03, 2023 6:00 PM
Class Cancelled -- Steve had COVID.

April 10, 2023 6:00 PM
Class Cancelled -- Steve had COVID.

April 17, 2023 6:00 PM
Class Cancelled -- Tax Season Deadline on 04/18/2023.

April 24, 2023 6:00 PM
Class Cancelled -- Multiple people unable to attend.

May 01, 2023 6:00 PM
On your own, Page 83 (Pages 95-96).  Answer key emailed to students.
Explore Accounting (Page 86).
Ethics in Action (Page 96).
Financial Literacy (Page 104).
Careers in Accounting (Page 105).
Review Lesson 4-1.
Audit your understanding (Page 107).
(Contact Hours = 2.35 Hours.  Students = AR)

May 08, 2023 6:00 PM
4-1 Work Together, Page 107 (textbook) and Pages 121-126 (working papers).
DEPT ACCT 05.08.2023 4-1 WORK TOGETHER
(Contact Hours = 2.40 Hours.  Students = AR)

May 15, 2023 6:00 PM
Class Cancelled -- Multiple people unable to attend.

May 22, 2023 6:00 PM
Class Cancelled -- Steve unable to attend.

May 29, 2023 6:00 PM
Memorial Day Holiday -- No Class.

June 05, 2023 6:00 PM
Review Lesson 4-2.
Audit your understanding (Page 111).
Work together 4-2 (Kitchen Department -- work together, Bath Department -- work alone).
Skip On your own 4-2.
Review: Why Accounting?  Accounting for Engineers (Page 118).
Review: Think Like An Accountant.  Allocating Corporate Expenses (Page 119).  Discuss Dave Ramsey $150 million timeshare lawsuit.
Review: Explore Accounting.  Exception Reports (Page 126).
(Contact Hours = 2.70 Hours.  Students = ARM).

June 12, 2023 6:00 PM
Class cancelled by Steve.

June 19, 2023 6:00 PM
Class cancelled by Steve.

June 26, 2023 6:00 PM
Review Lesson 4-3.
Audit your understanding (Page 116).
Work Together 4-3 (Preparing financial statements).
Work Together 4-3; Page 116 -- Answer Key (pdf).
(Contact Hours = 2.33 Hours.  Students = AR).

**Class will be held on Thursday, June 29 and Thursday, July 06.**

June 29, 2023 6:00 PM
Review Lesson 4-3 to reinforce concepts.
Review Lesson 4-4.
WHY ACCOUNTING? -- Accounting for Engineers, Page 118.
Summary of the Accounting Cycle, Page 121.
Audit your understanding, Page 122.
Chapter Summary, Page 126.
Work together, Textbook Page 122; Working Papers Page 145.
(Contact Hours = 3.00 Hours.  Students = ARM).

July 06, 2023 6:00 PM
Class cancelled.

July 10, 2023 6:00 PM
Class cancelled.

July 18, 2023 6:00 PM
Review APPENDIX: Preparing a Work Sheet, Textbook Pages 132-133.
Start Reinforcement Activity 1, Processing and Reporting Departmentalized Accounting Data, Textbook Pages 135-138; Working Papers Pages 187-219.
(Contact Hours = 2.00 Hours.  Students = ARM).

 

 

Contact Hours are based on the AICPA and IRS C(P)E 50-minute contact hours.  Note: Windham Solutions is not registered as a C(P)E provider with the AICPA or the IRS.  Their guidelines are simply used for calculating contact hours.

Please download and import the following iCalendar (.ics) files to your calendar system.
Weekly: https://us06web.zoom.us/meeting/tZYldO2trj0uG9Q6okAHOfDPVu3yuDthlTGI/ics?icsToken=98tyKuGqpjguH9STtBiHRpwQGojCLO_ziCFbjfpsyhDuIgh8ZCfGAPcRK6dbBNDc

Join Zoom Meeting
https://us06web.zoom.us/j/82834506410?pwd=RmcvcXpQbG8wK2xtR1pFdENiWjNUUT09

Meeting ID: 828 3450 6410
Passcode: 685647
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Meeting ID: 828 3450 6410
Passcode: 685647
Find your local number: https://us06web.zoom.us/u/kjHZpbqF

See you soon!

Steve M. Windham

California Middle Class Tax Refunds

Posted on | by Steve M. Windham, LLM, MBA, EA

The Internal Revenue Service, on February 10, 2023, has issued guidance on state tax payments to help taxpayers:

WASHINGTON — The Internal Revenue Service provided details today clarifying the federal tax status involving special payments made by 21 states in 2022.

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.

During a review, the IRS determined it will not challenge the taxability of payments related to general welfare and disaster relief. This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island. Alaska is in this group as well, but please see below for more nuanced information.

Click here to view the complete News Release on the IRS website.

The California Franchise Tax Board has issues significant guidance on the California Middle Class Tax Refunds.

Concerning offsets/withholding:

  • The Middle Class Tax Refund payment is not taxable for California state income tax purposes.
  • The Middle Class Tax Refund payment will not be subject to offset for debts owed to Franchise Tax Board or other government agencies.
  • The Middle Class Tax Refund payments are not subject to garnishment orders, with the exception of orders in connection with child support, spousal support, family support, or a criminal restitution payable to victims. If you believe your Middle Class Tax Refund payment that was deposited with your financial institution has been levied/frozen in error, please contact the phone number provided by your financial institution.

Click here to view the California Franchise Tax Board, Public Service Bulletin on the California Middle Class Tax Refund payments.

Click here to view General Information on the California Franchise Tax Board Middle Class Tax Refund.