About the course
This live, virtual seminar is designed to 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. Each day’s agenda features individual modules (each less than an hour) as well as breaks. This interactive course does more than describe technical requirements; the rationale and consequences of the relevant accounting standards will be explained using easy-to-follow examples with detailed journal entries. Days 1 and 2 introduce the conceptual foundation of ASC 740 by explaining how to reconcile permanent and temporary differences between four sets of flows:
- cash flows
- GAAP income
- taxable income
- more-likely-than-not taxable income given uncertainty in income taxes.
We will also cover tax-loss carryforwards, tax-credit carryforwards, other comprehensive income, and tax disclosures.
Days 3 and 4 cover more advanced concepts, including:
- valuation allowances
- unrecognized tax benefits
- interim tax allocations
- business combinations
- stock compensation.
- Permanent vs. taxable and deductible temporary differences between book flows and tax flows and how they affect the effective tax rate
- The difference between taxes payable (refundable), unrecognized tax benefit liabilities, and deferred tax liabilities (assets)
- Taxes and other comprehensive income
- Tax credit carryforwards and tax loss carry forwards
- Valuation allowance for deferred taxes
- Unrecognized tax benefit liabilities
- Interim period taxes for quarterly reporting
- Deferred taxes for business combinations and share-based compensation
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...
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.