Event Details

ASC 740/FAS 109 Step by Step Instruction - Level Basic (ACACS17)

Date:	Thursday, December 28, 2017
Time:	8:00 PM - 4:07 AM (Registration at 7:30 PM)
Facility:	Webcast or Webinar, Online
CPE Credit:	4.0 Accounting and Auditing 4.0 Technical Business
Instructor:	Shamen Dugger
Vendor:	ACPEN
Course Level:	Basic
Early Bird Price:	$195.00 FICPA Members, $245.00 Non-Members

Description:

In this full-day online webinar, tax expert Shamen Dugger, J.D., CPA, will help you build a solid ASC 740/FAS 109 foundation. She will guide you step by step through the process while explaining key ASC 740/FAS 109 concepts, such as permanent/temporary book vs. tax differences, deferred tax accounting, and valuation allowances. In addition to a review of basic ASC 740/FAS 109 concepts, completion of practice examples using the concepts, and direct application of the concepts through core tax provision schedule reviews, additional time will be allocated specifically to hands-on preparation of the core basic tax provision schedules. Ms. Dugger will use examples throughout the seminar to emphasize such ASC 740/FAS 109 concepts and their basic mechanics.

Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Objectives:

Enhance transferable skills through a practical understanding of ASC 740/FAS 109

Simplify complex ASC 740/FAS 109 concepts via a step by step process

Apply ASC 740/FAS 109 concepts, step by step, in preparing basic tax provision schedules

Leverage a tax provision template for use in basic tax provision preparation

Major Topics:

The scope of ASC 740/FAS 109

The basic tax provision calculation, including current and deferred tax expense/(benefit)

Permanent and temporary book vs. tax differences

Deferred tax assets, deferred tax liabilities, and valuation allowance

Mechanics of the basic tax provision, including deferred tax accounting

Additional impacts to the basic tax provision calculation, including reserves (ASC 740-10/FIN 48), provision to return true-ups, tax attributes

Schedules included in a basic tax provision, including the taxable income schedule, deferred inventory, current/deferred tax expense, rate reconciliation, tax account rollforward, income tax footnote/financial statement impacts, state tax calculations/apportionment, tax attribute carryforward schedule, FIN 48/ASC 740-10 rollforward, federal/state research credit calculations, IRC Sections 382/383 tax attribute limitations, and SOX 404 internal controls

Who Should Attend:

CPA, Attorney, Enrolled Agent, and any other professional that would like to understand ASC 740/FAS 109 and tax provision preparation

Prerequisite:

General tax and accounting knowledge

Advanced Preparation:

None

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

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