Accounting for Income Taxes – A Timely Refresher and Update

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Category balanced scorecard, balanced scorecard accounting

Deadline: May 01, 2018 | Date: May 01, 2018

Venue/Country: Colorado, U.S.A

Updated: 2018-04-10 15:50:08 (GMT+9)

Call For Papers - CFP

• The balance sheet approach to accounting for income taxes

• The handling (from creation to write-off) of deferred tax assets and deferred tax liabilities

• Need for a valuation account in certain circumstances

• Specific examples of differences – temporary and permanent

• Special topics such as accounting for net operating losses, multiple tax rates etc.

• AMT

WHY SHOULD YOU ATTEND

Attendees will take away valuable information such as:

• Knowledge of the balance sheet approach for accounting for income taxes.

• A historical accounting for why the profession changed from an income statement approach to the balance sheet approach.

• A complete understanding of what are deferred tax assets and deferred tax liabilities.

• A grasp of the difference between temporary differences and permanent differences.

• Circumstances that require use of a valuation account.

AREAS COVERED

• Accounting for current provision

• Accounting for deferred provision

• Temporary difference and how they “turn around” or reverse

• Permanent difference and how they are ignored for deferred tax purposes

• Net operating losses – carry backs, carry forwards

• Tax rate considerations

• Future rates/revisions of future rates

• Special issues

• Multiple temporary differences

• Multiple tax rates

• AMT

• Intra-period tax allocation

LEARNING OBJECTIVES

• The historical problems associated with accounting for income taxes.

• How the balance sheet approach dramatically changed income tax accounting.

• The fundamentals surrounding the accounting for income taxes.

• Future activities and their impact on deferred tax assets and/or liabilities.

• The different handling of temporary differences and permanent differences.

• The creation of deferred tax balance sheet accounts.

• Need for a valuation account when it is more likely than not that the net deferred tax asset will not be realized in full.

• Basic provisions of SFAS 109 (ASC 740-10).

WHO WILL BENEFIT

• Tax accountants

• Auditors – internal

• Auditors – external

• Senior management

• CPAs – External

• Financial statement preparers

• Financial statement reviewers

• Controllers’ personnel

• Directors

• Audit committee members

• Treasury personnel

For more detail please click on this below link:

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