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CPE Self-Study

Accounting for Deferred Income Taxes

  • $129.00-$169.00
    Accounting for Deferred Income Taxes In Stock Product #: 732852
    AICPA Member: $129.00
    Non-Member: $169.00
  • $159.00-$199.00
    Accounting for Deferred Income Taxes Online Access Product #: 163132
    AICPA Member: $159.00
    Non-Member: $199.00

This 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.

Topics Discussed

  • 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

Advance Preparation: None

System Requirements

About the Authors

Bobby Carmichael ED.D, CPA



About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.