Financial Accounting Issues

Income Tax Accounting

Course Overview
Corporations must file income tax returns 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.



Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Recognize the four types of temporary differences and identify how these differences may arise.
  • Identify permanent differences and distinguish between permanent and temporary differences.
  • Recognize the impact of different expenses and investment and how they affect deferred income tax.
  • Identify accounting procedures for a loss carryback and a loss carryforward.

Content Partner:

SmartPros Ltd.

SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of
content, SmartPros has been providing mandatory continuing education
products since 1981. SmartPros provides services and content to its
professional and corporate clients, in a variety of media including Web, CD
ROM, and video. In the accounting market, SmartPros also has a predominant
news and information portal which receives 200,000+ visits per month and
provides services to over 100,000 subscribers. SmartPros' customers include
50% of the Fortune 500, as well as the major firms and associations in each
of its professional markets.


Prerequisites/Advanced Preparation:

Basic Accounting

Speaker / Author:

Steve Spafford, MBA, CPA, has over 20 years’ experience as a CPA working with large public accounting firms, and in numerous executive roles at multinational public corporations. He is a member of DeltaCPE LLC, a leading publisher of continuing professional education courses for CPAs, and has edited CPA ethics courses provided to over 35 states.

Software & Hardware Requirements:

  • 56k or Greater Internet Connection
  • Adobe Acrobat® Reader for the .pdf files
  • Modern DHTML Compatible Browser
  • Ram: 256 MB minimum
  • Windows or Mac OS

Buy

Price (USD)

Standard: $69.90

Details

Course Code : 99DEL50

Release Date : 05/22/2020
Expire Date : 05/22/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Basic
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Accounting Issues

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