Course ID: AIT

Accounting for Deferred Income Taxes


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
  • Recall the principles of ASC 740.
  • Recall how to calculate income tax expense and deferred tax liabilities and assets.
  • Identify steps necessary to determine if the valuation allowance is needed.
  • Identify components of proper documentation of deferred income taxes in the workpapers, as well as required disclosures within the financial statements.

MAJOR TOPICS
  • Theoretical concepts of ASC 740
  • Identifying and measuring temporary differences
  • Identifying tax differences and a four-column worksheet
  • Tax benefits for carrybacks and carryforwards
  • Accounting for uncertainty in income taxes
  • Reporting and disclosure under ASC 740
  • ASC 740-20 intraperiod tax allocation
  • Case studies and examples illustrating theory and concepts

DESIGNED FOR
Staff and senior associates 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

PREREQUISITES
None

COURSE PRODUCER
AICPA

CPE CREDITS
8.0

LEVEL
Basic

This course is available to be scheduled as:

Group Live On-Demand
 

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