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CPE Self-Study
Income Tax Accounting - Tax Staff Essentials
NASBA FIELD OF STUDY
Accounting
LEVEL
Intermediate
CPE CREDITS
Online: 7.5
Get an understanding 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.

CPE On-Demand
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Product details

Save when you buy the complete Tax Staff Essentials, Level 3 online bundle.

A complicated accounting model, FASB ASC 740 has been around for a while. But, the rules are becoming more challenging as businesses become more complex. Updated for Tax Reform, this CPE course will assist you in understanding FASB 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.

In addition to receiving practical case studies to give you a look at how to account for different deferred tax scenarios, this course will also provide you with a comparison of the accounting for income taxes under both U.S. GAAP and IFRS. This course has been updated for impact of Tax Cuts and Jobs Act of 2017.

Learning Objectives

  • Recall the principles of FASB 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 work papers,as well as required disclosures within the financial statements.

Key Topics

  • Theoretical concepts of FASB 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 FASB ASC 740
  • FASB ASC 740-20 intraperiod tax allocation
  • Case studies and examples illustrating theory and concepts

Who Will Benefit?

Tax staff and senior associates in public accounting, controllers, and tax directors.

Discounts

Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

Table of contents
Author

Bobby Carmichael ED.D, CPA

Robert F. Carmichael is licensed as a Certified Public Accountant and is a founding member of Blackwood Holdings Group, LLC, a private equity group headquartered in Orlando, FL, with offices in Beverly Hills, CA, and Shanghai, China. As a licensed CPA, Mr. Carmichael has direct experience in tax, forensic accounting, auditing, business valuation, and financial structuring and forecasting. Mr. Carmichael’s professional experience includes mergers and acquisitions, commercial real estate development and lending, energy industry financial analysis and forecasting, and the development and implementation of corporate governance policies and procedures. He has led the underwriting and finance of more than $5 billion in commercial debt and equity investments.

Prior to founding Blackwood Holdings Group, LLC, Mr. Carmichael held the position of senior vice president at KeyBank NA, where he was responsible for developing and implementing recovery and disposition strategies for OREO assets and distressed loans located in the Midwest and eastern United States.

Mr. Carmichael started his career with KeyBank by establishing and managing the Commercial Real Estate Capital offices in central and north Florida. Prior to joining KeyBank, Mr. Carmichael held the position of senior vice president at Bank of America, where he was responsible for its real estate development efforts in central Florida. Mr. Carmichael was instrumental in developing and launching the bank’s small business lending program. Earlier in his career, he owned a real estate development company in New York, but got his start in commercial real estate with Caldwell Banker Commercial Real Estate Services in New York City. Mr. Carmichael started his accounting career with Shell Oil Company, where he was responsible for reporting offshore exploration and production financial results. He also led the formation of several offshore oil and gas joint ventures with foreign partners.

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 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 specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$179.00
Member Quantity:
Nonmember Quantity:
Quantity:
Estimated total:
$179.00
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CREDIT INFO
CPE credits
Online
: 7.5
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
TSE.ITA
Group Pricing
Product number: GT-TSE.ITA
Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us
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