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Drake Electronic Training Center
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Drake Software launched its Electronic
Training Center (ETC) in the summer of 2006. Made available at no charge
to our customers, Drake's ETC is an online, interactive site offering tax courses,
tutorials, and practice returns, all designed to enhance tax professionals' and
preparers' knowledge of tax preparation and Drake Software.
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Almost 11,000 students of varying levels of expertise and experience from 4,400
tax businesses participated in ETC's first year. ETC's training materials benefit
single preparers as well as offices with multiple preparers and are designed to
accommodate any skill level.
Drake's ETC includes basic and intermediate individual tax courses, a basic corporate
tax course and a partnership tax course. All courses are available for CPE credits.
View the CPE details for each course below to determine the number of CPE hours
available.
The Basic course consists of eight study units and a final exam. It covers subjects
such as filing status, dependents, exemptions, deductions, child care and earned
income credits, and Schedule C for reporting income.
The Intermediate course is similar to the basic course but delves more deeply into
Schedules C, F, and E, and takes a more thorough look at depreciation.
The Basic Corporate course describes and explains the various parts of a corporate
1120 return and shows the student how to use corporate "books" to complete an 1120
in Drake Software. The course includes an in-depth look at Schedule L, Assets and
Liabilties (L-1 and L-2), Reconciliation of the Income Statement (M-1), Retained
Earnings (M-2), Depreciation, and the use of form 4562.
The Basic Partnership course describes and explains the various parts of a 1065
partnership return and shows the student how to create and balance a partnership
return in Drake Software.
Drake Videos are also available on ETC. To view the videos, go to DrakeETC.com >
Videos menu.
The Drake 101 Video covers the basics of data entry, program setup and e-filing.
The Drake Extras Training Video covers the Tax Planner, Document Manager, Reports,
Client Status Manager, Email, and the Drake Scheduler.
The Beyond the Basics Video course is designed to help both the new and experienced
preparer navigate some of the more complex screens in the 1040 return. Topics include
data entry in Schedules C, F, and E and how to use Forms 4562, 4797, and the 1116
in Drake Software.
ETC's online tutorials impart the basics of Drake Software through step-by-step
movies. Practice returns provide hands-on data entry experience in which students
enter various taxpayer scenarios into the software and then compare results to available
solutions. Electronic filing and banking exercises allow students to e-file returns,
study any rejections and make corrections, then re-file the returns and print bank
products.
In offices where many students are taking courses, administrators will find it invaluable
to easily set up student accounts, track students' progress, view electronic report
cards, and print CPE certificates when all requirements for certification have been
met.
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