Income Tax Accounting - Tax Staff Essentials

Overview

All-new course uses scenarios and examples to illustrate the complexities of accounting for income taxes.

Highlights

Key Topics

• Scope of FASB ASC 740
• Tax positions, including uncertain tax positions
• Deferred tax assets and liabilities
• Permanent and temporary differences
• State and local tax accounting
• Valuation allowances
• Financial statement presentation and disclosure

Prerequisites

None

Designed For

Who Will Benefit?

• Tax staff and seniors
• Audit staff and seniors
• Corporate accountants

Objectives

Learning Outcomes

• Recall the objectives and key terms of FASB ASC 740, Income Taxes.
• Identify the entities and tax types that fall within and outside the scope of FASB ASC 740.
• Distinguish between permanent and temporary book-tax differences.
• Identify the basic model for recognition and measurement of deferred taxes.
• Identify the steps involved in the tax provision calculation for SALT jurisdictions.
• Recognize the financial statement effects of uncertain tax positions.
• Recognize how to determine the valuation allowance.
• Identify the components of income tax expense from continuing operations.