Accounting  |  Format: Flash

Accounting for Income Taxes (Updated)

Course Overview
For many accountants, the topic of accounting for income taxes remains one of the most complex subjects within the profession. In this course, we look at the recording of current tax based on a corporation�s taxable income and deferred taxes which are recorded on the basis of differences in assets and liabilities that will �reverse� in the future. We review ASC 740, providing illustrative cases as well as a discussion of disclosure requirements. Finally, we examine the uncertain tax position process with examples and a review of corresponding disclosure requirements.

Learning Objectives
After completing this course, the course participant should be able to:

  • Define deferred taxes.
  • Identify practice problems associated with accounting for income taxes.
  • Recognize the steps in deferred tax methodology.
  • Recognize ASC 740 disclosure requirements.
  • Determine accounting for uncertainty in income taxes.
  • Identify the disclosure requirements for uncertain tax positions.
  • Recognize the practical considerations involved with uncertain tax positions.
    Catalog Number: 99FLE02-v2
    CPE Credits: 1 Registry / 1 QAS
    Author: John M. Fleming, CPA, MBA
    Advanced Preparation:
    Course Level: Basic
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Mar 03, 2017 / Feb 15, 2020