Advanced Income Tax Accounting

Understand the increasingly complex rules governing income tax accounting and learn how to address them through active scenarios and practical exercises. Discover specifics you can use to apply ASC 740 (formerly SFAS No. 109 and FIN 48) and the impact that IFRS has had on accounting for income taxes and the impact of dealing with other accounting standards in conjunction with ASC 740. This course incorporates updates from Tax Cuts and Jobs Act (TCJA).

Learning Objectives

Learning Objective: 

When you complete this course you will be able to:

  • Apply the complex rules of ASC 740 to new and challenging situations
  • Identify the similarities and differences between U.S. GAAP and IFRS with deferred tax implications
  • Apply ASC 740 to state and local income tax complexities
  • Determine the applicable tax rate for complex situations
  • Schedule temporary differences in various complex situations
  • Apply ASC 740 to changes in tax laws or rates, accounting methods, tax status, and interim periods
  • Apply ASC 740 to ASC 805, Business Combinations, and ASC 810, and noncontrolling Interests in Consolidated Financial Statements
  • Apply intraperiod tax allocation with a five-step approach for more complex situations
  • Apply ASC 740 to stock-based compensation issues
  • Compute the valuation allowance considering items that reduce the need for an allowance

Topics Discussed

Topics Discussed: 
  • ASC 740
  • Comparison of ASC 740 to IAS 12
  • Intra-period tax allocation
  • Business combinations

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COURSE CODE

TSE.ADVTA

FIELD OF STUDY

Taxes

CPE CREDIT HOURS

8

KNOWLEDGE LEVEL

Advanced

INTENDED AUDIENCE

CPA firm auditors or tax managers, and partners and experienced accountants in industry who are involved in financial reporting for income taxes

PREREQUISITE

Experience in financial reporting and basic knowledge of ASC 740

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live
Self-Study On-Demand

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For individual training, visit:

(U.S.) AICPAstore.com

(Outside the U.S.) CGMAstore.com

CONTACT A TRAINING REPRESENTATIVE:


1-800-634-6780 Option 1
aicpalearning@aicpa.org