Corporations must file income tax return following the guidelines developed by the IRS. Since GAAP and tax regulations differ in a number of ways, so frequently do pretax financial income and taxable income. In consequence, the amount that a company reports as tax expense will differ from the amount of taxes payable to the IRS. This course covers the basic guidelines that companies must follow in reporting income taxes and the disclosure requirement associated with deferred taxes, reviewing some of the concepts and items discussed in ASC 740, Income Taxes.
Objectives:
Temporary Differences
- Deferred Tax Liability
- Deferred Tax Asset
Permanent Differences
Intraperiod Tax Allocation
Balance Sheet Presentation
Income Statement Presentation
Loss Carrybacks
Loss Carryforwards
Tax Rates
Multiple Tax Jurisdictions
Tax Credits
Tax Status Changes
Business Investments
Business Combinations
Separate Financial Statements of a Subsidiary
Leases
Convertible Debt
Quasi-Reorganization
Disclosures
Indefinite Reversal
Comprehensive Example
Other Issues
- Dividends on Restricted Stock and Options
- Employee Stock Ownership Plans (ESOPs)
Topics Covered:
- Temporary Differences
- Intraperiod Tax Allocation
- Business Combinations
- Quasi-Reorganization
- Dividends on Restricted Stock and Options
- Permanent Differences
- Multiple Tax Jurisdictions
- Convertible Debt
- Indefinite Reversal Employee Stock Ownership Plans (ESOPs)
Delivery Method: Online Self Study
Level: Basic to Intermediate
Prerequisites: Basic Accounting
Category: Accounting
Passing Score: 70%
NASBA: Yes QAS Self Study
Author: Delta Publishing
ABOUT THE SUBJECT MATTER EXPERT:
Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.
