Course

Accounting for Deferred Income Taxes

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Event Details

Monday, September 9, 2019 – Friday, January 31, 2020

Location

Facility Pending

On-Demand Only

CPE Credit

11 hours CPE credit

Course Code

-AIS0003

Level of Knowledge

Basic

Vendor

AICPA

Description

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. This CPE course incorporates the new tax rates and other impacts of the Tax Cuts and Jobs Act and will assist you in understanding FASB ASC 740, Income Taxes, and how it establishes guidelines for accounting for income taxes, including income tax expense, classification of deferred tax accounts, and related disclosures.

Author: Bobby Carmichael ED.D, CPA

Highlights

  • Principles of FASB ASC 740
  • Income tax expense and deferred tax liabilities and assets
  • Valuation allowances
  • Proper documentation of deferred income taxes in the work papers
  • Required disclosures within the financial statements

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 the valuation allowance 
  • Identify components of proper documentation of deferred income taxes in the workpapers, as well as required disclosures within the financial statements

Designed For

Tax staff and senior associates in public accounting Controllers Tax directors

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