Accounting for Income Taxes

KPMG Executive Education

What are the topics?

KPMG Executive Education

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About the course

This two-day seminar will help you understand and apply income tax accounting per ASC 740 (the FASB standard for accounting for income taxes) including the effect of the 2017 tax reform.

Day one introduces the conceptual foundation of ASC 740; we examine how to reconcile permanent and temporary differences between four sets of flows: cash flows, GAAP income, taxable income, and more likely than not taxable income. It also covers tax loss carry forwards, tax credit carry forwards, other comprehensive income, and tax disclosures. The second day moves to more advanced concepts, such as valuation allowances, unrecognized tax benefits, interim tax allocations, business combinations, and stock compensation. We endeavor to go beyond merely describing the technical requirements; we explain the rationale and the consequences of these standards as well by using easy-to-follow examples with detailed journal entries.

Agenda

  • Permanent vs. taxable and deductible temporary differences and how they affect the effective tax rate
  • Difference between taxes payable (refundable), tax contingencies, and deferred tax liabilities (assets), tax disclosures
  • Taxes and other comprehensive income
  • Tax credit carryforwards and tax loss carry forwards
  • Common sources of permanent and temporary differences
  • Valuation allowance for deferred taxes
  • An introduction to tax contingencies
  • Interim period taxes for quarterly reporting
  • Deferred taxes and business combinations, share-based compensation, and foreign operations

Experts

Dan Gode

Dan is the founder of Almaris Consulting and Training. He brings in 25 years of extensive experience in consulting and training in accounting, financial statement analysis, business drivers, modeling. valuation, and credit risk analysis. He has worked with over numerous corporations, investment b...

Videos and materials

Accounting for Income Taxes at KPMG Executive Education

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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