Income Tax Accounting

Overview

With case studies of actual scenarios and custom worksheets, this course provides a real-world approach to learning the rules of ASC 740, Income Taxes. You get exposure to all the fundamental topics of income tax accounting, including deferred tax accounts, temporary and permanent differences, and uncertain tax positions.

Highlights

Permanent and timing differences, Income tax expense, Effective tax rate, Current income tax liability, Deferred income tax assets and liabilities, Uncertain tax positions, Tax benefits for carryforwards, Reporting and disclosure under ASC 740.

Prerequisites

Basic knowledge of ASC 740

Designed For

Staff and senior associates in public accounting who assist clients with income tax calculations and disclosures

Objectives

When you complete this course, you will be able to: Identify and classify deferred tax assets and deferred tax liabilities. Recognize how to schedule temporary differences to future tax periods. Recognize the financial and tax auditing consideration for uncertain tax positions. Identify the components of income tax expense. Identify the need for a valuation allowance.