Accounting for Income Taxes: A Comprehensive Review & Update Webinar

To provide CPAs and other finance professionals with a practical understanding of accounting for income taxes, enabling them to apply Topic 740 guidance related to deferred taxes, uncertain tax positions, valuation issues, disclosure requirements, and financial statement reporting considerations.

• Deferred tax assets (DTAs) and liabilities (DTLs)
• Accounting issues related to HR-1 and the Tax Cuts and Jobs Act of 2017
• Deferred tax rate considerations and enacted tax law changes
• Valuation allowances, realizability assessments, and tax planning strategies
• FIN 48 and accounting for uncertain tax positions
• Proportional amortization method
• Consolidation issues, intra-entity transactions, and goodwill considerations
• Accounting implications of changes in tax status and entity structure
• Intraperiod allocations
• ASU 2023-09 income tax disclosure requirements and reporting considerations
• Common accounting for income tax errors, documentation deficiencies, and internal control considerations
• Interim tax reporting and annual effective tax rate considerations

To provide CPAs and other finance professionals with a practical understanding of accounting for income taxes, enabling them to apply Topic 740 guidance related to deferred taxes, uncertain tax positions, valuation issues, disclosure requirements, and financial statement reporting considerations.

DETAILED LEARNING OBJECTIVES

• Identify the objectives and scope of ASC Topic 740 accounting for income taxes

• Distinguish between temporary differences and permanent differences

• Recognize the accounting treatment for deferred tax assets and deferred tax liabilities

• Identify common book-to-tax differences that create deferred tax consequences

• Recognize the criteria for recording valuation allowances on deferred tax assets

• Identify positive and negative evidence used in evaluating deferred tax asset realizability

• Recall the accounting treatment for uncertain tax positions under FIN 48

• Identify the recognition and measurement thresholds for uncertain tax benefits

• Recognize the presentation requirements for uncertain tax positions under ASU 2013-11

• Identify disclosure requirements introduced by ASU 2023-09

• Recognize the balance sheet classification requirements for deferred taxes under ASU 2015-17

• Identify the accounting implications of intra-entity asset transfers under ASU 2016-16

• Recall the purpose and provisions of ASU 2018-02 and ASU 2019-12

• Identify the accounting considerations related to goodwill and consolidated tax reporting

• Recognize the treatment of enacted tax law changes in deferred tax accounting

• Identify the requirements for intraperiod tax allocation and interim tax reporting

• Recall the accounting implications of changes in tax status, including S corporation elections

• Identify the impact of carryforwards, tax planning strategies, and tax credits on deferred tax accounting

• Recognize the presentation and netting requirements for deferred tax assets and liabilities

• Identify key federal tax developments affecting corporate income tax accounting, including provisions from the TCJA and Inflation Reduction Act
 

• Deferred tax assets (DTAs) and liabilities (DTLs)
• Accounting issues related to HR-1 and the Tax Cuts and Jobs Act of 2017
• Deferred tax rate considerations and enacted tax law changes
• Valuation allowances, realizability assessments, and tax planning strategies
• FIN 48 and accounting for uncertain tax positions
• Proportional amortization method
• Consolidation issues, intra-entity transactions, and goodwill considerations
• Accounting implications of changes in tax status and entity structure
• Intraperiod allocations
• ASU 2023-09 income tax disclosure requirements and reporting considerations
• Common accounting for income tax errors, documentation deficiencies, and internal control considerations
• Interim tax reporting and annual effective tax rate considerations