CPA Exam Reg Simulation Accumulated Adjustments Account Accumulated

In this video, I cover CPA exam REG Simulation. ON the CPA exam, you are expected to complete CPA Exam Reg Simulation. Passing the CPA Exam Reg Simulation is critical for your success on the CPA exam.
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The Accumulated Adjustments Account is used by S-Corporations to determine how shareholders must treat distributions of property from the S-Corporation. This is a snapshot of the cumulative balance of all separately stated items and non-separately stated items (ordinary) of the S-Corporation.
Accumulated earnings and profits (E&P) is an accounting term applicable to stockholders of corporations. Accumulated earnings and profits are a company's net profits after paying dividends to the stockholders, serving as a measure of the economic ability of a corporation to pay such cash distributions.

[@claire1388]

just want to thank you professor Farhat, I watched to your videos from the first to the last in this entire individual and corp tax course two times. your explanation is so helpful and useful. I passed the business part in EA Exam today that is the most difficulty and got an excellent score. thank you soooooooooooooooo much!!!!!!!!!!

[@AccountingLectures]

You are very welcome. Please connect with me: linktr.ee/farhatlectures

[@adilmohammed2548]

hi sir, any distribution from AAA is non taxable while at the same time reduces the basis. So in yr 6 when 110000 is distributed 80000 is from Aaa it reduces the basis of 3000+40000 =43000 to zero and from AEP 20000 is taxable and no effect on basis. now basis is zero and 10,000 more distribution will be capital gain since basis is zero now. could u please check on this. since I have a doubt regarding this with my review course.

[@Team8LA]

You are so encouraging, thank you!

[@AccountingLectures]

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[@marykcoughlin3627]

Great example and very helpful.

[@AccountingLectures]

Great. Please take a look at my website for more: www.farhatlectures.com