FMN Accounting  |  Format: Flash

Where Book Accounting Really Meets Tax Accounting

Course Overview
An enterprise�s profits and tax liability are presented to shareholders on their financial statements in a totally different way than they are reported to taxing authorities on annual returns. While the differences between book and tax accounting are no doubt confusing, Joe Howell, the co-founder of Workiva, observes that most corporate financial managers do not really understand what their tax colleagues actually do or appreciate the extent to which tax-related tasks are affected by corporate finance.
Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Identify why tax accountants focus on legal and taxable entities;
  • Explain why the costs of an audit are far greater than any savings;
  • Distinguish between the purposes of tax audits and financial audits; and
  • Define what is meant by "tax planning."

    Catalog Number: FMN1285-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: FMN Online
    Advanced Preparation:
    Work experience in financial reporting or accounting, or an introductory course in accounting.
    Course Level: Update
    Field of Study: Accounting
    Content Partner: FMN Online
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    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: Jan 10, 2019 / Aug 14, 2020