Live CPE Webinar
Intro to Accounting for Income Taxes
- CPE Credits
- 2
- Price
- $89.00
- Field of Study
- Accounting & Auditing
- Format
- Online
This course is an introduction to accounting for income taxes, designed to help professionals understand and apply the principles of Accounting Standards Codification Topic 740, Income Taxes. Topics include the liability method, the tax provision process, and the related financial statement presentation.
Major Topics:
- Overview of ASC 740 concepts and terminology
- The liability method: deferred tax assets/liabilities and income taxes payable/receivable
- The tax provision preparation process
- Financial statement presentation and disclosures: income statement, balance sheet, statement of cash flows, and footnote disclosures
Learning Objectives:
- Explain the liability approach to calculating income taxes under ASC 740.
- Identify and interpret relevant financial statement information related to ASC 740.
- Apply basic accounting for income taxes concepts to prepare a basic income tax provision.
- Utilize terminology under ASC 740 to effectively communicate with team members, tax and audit service providers, and financial statement users.
Designed For
Public and industry accountants at all levels interested in developing a foundational understanding of how to effectively communicate about and account for items related to accounting for income taxes under U.S. GAAP.
Prerequisites
None