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Accounting for Deferred Income Taxes

Description

Understand the rules of ASC 740, Income Taxes, and how these rules establish guidelines for accounting for income taxes, including income tax expense, classification of deferred tax accounts, and related disclosures. Case studies give you a practical look at how to account for different deferred tax scenarios. You will also receive a comparison of the accounting for income taxes under both U.S. GAAP and IFRS.

Learning Objectives
  1. Upon completion of this webcast, participants will be able to:
  2. Recall the principles of ASC 740.
  3. Recall how to calculate income tax expense and deferred tax liabilities and assets.
  4. Identify steps necessary to determine the valuation allowance.
  5. Identify components of proper documentation of deferred income taxes in the workpapers, as well as required disclosures within the financial statements.
Major Topics
  1. Theoretical concepts of ASC 740
  2. Identifying and measuring temporary differences
  3. Identifying tax differences and a four-column worksheet
  4. Tax benefits for carrybacks and carryforwards
  5. Accounting for uncertainty in income taxes
  6. Reporting and disclosure under ASC 740
  7. ASC 740-20 intraperiod tax allocation
  8. Case studies and examples illustrating theory and concepts
Provider
AICPA
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
8
Who Should Attend

Senior staff in public accounting who assist clients with income tax calculations and disclosures; Controllers, CFOs, or company officers responsible for the calculation of income tax expense and balance sheet amounts, related disclosures, and cash requirements for income taxes

Instructor(s)
Marty Wagoner
Prerequisites
None
Location
Online
Event Information
When
Dec 20, 2016
9:00 am - 5:00 pm EST
Location
Online
Total CPE Credits
8
Format
Webcast Replay

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Accounting for Deferred Income Taxes


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