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Income Tax Accounting - Tax Staff Essentials

Author/Moderator: Bobby Carmichael ED.D, CPA
Publisher: AICPA
Availability: Online Access
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Save when you buy the complete Tax Staff Essentials, Level 3 online bundle.

This CPE course assists you in understanding 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.

Additionally, this course contains case studies to 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.

Key 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

Learning Objectives

This course will prepare you to:

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

Prerequisite: None

Advanced Preparation: None


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NASBA Field of Study: Accounting
Level: Intermediate
Recommended CPE Credit: 11
Income Tax Accounting - Tax Staff Essentials
CPE On-Demand , 2016
Product# 157733
Availability: Online Access 1 Year
For registered users only
AICPA Member:$199.00
Your Price:$249.00
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