Self-Study
4
Intermediate
Accounting
A basic knowledge of accounting for income taxes.

Course Description

Expand your expertise in ASC 740 and learn about complex issues concerning evaluating the need for a valuation allowance. Join Lynne Glennon, CPA as she covers the nuances of reporting, recording, and disclosing uncertain tax positions (FIN 48). Case studies and numerous examples are included to provide a more in-depth understanding of accounting for income taxes.



Instructor

Lynne Glennon

Lynne is a full-time faculty member for DePaul University’s Master of Science in Taxation program and teaches Transactions in Property, Taxation of Corporations and Shareholders, Partnership Taxation and Accounting for Income Taxes in the traditional classroom setting, as well as online for a national CPA firm. In addition to teaching, Lynne has written a chapter on Accounting for Income Taxes for Wiley’s Accounting Practitioners’ publication, is the faculty advisor for the annual Deloitte FanTaxtic student tax case competition, has participated on panel discussions for the Chicago Tax Club and Tax Executive Institute and has consulted for a Fortune 500 company.

Prior to teaching full time, Lynne worked in both industry and public accounting for 20 years as a Tax Director and Tax Consultant. She was Director of Tax Planning for Global Hyatt Corporation where she was responsible for analyzing and planning for the tax consequences and financial reporting of mergers, acquisitions, entity restructurings, and overseeing IRS audit defense for the company. As a senior manager in Deloitte & Touche’s lead tax services group, her career focus was corporate and partnership taxation where she served as consultant on a number of multi-national clients in the manufacturing, distribution and service industries.



Course Specifics

Accounting
Aug 16, 2017
A basic knowledge of accounting for income taxes.
SS1163449
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Section 1

  • Cite the background and objectives of FIN 48 (ASC 740-10) and identify the underlying principles that it is based upon
  • Specify the impact of FIN 48 (ASC 740-10) on various entity types
  • Identify the elements of the FIN 48 (ASC 740-10) calculation, noting the measurement and evaluation process

Section 2

  • Identify the components of FIN 48 items, noting the appropriate measurement and recording for the associated assets or liabilities
  • Recognize the requirements for filing Schedule UTP, identify the components of that schedule, and determine which items would be reportable therein
  • Identify disclosure requirements for both public and private companies

Section 3

  • Identify potential sources of taxable income to consider when calculating the need for a valuation allowance on deferred tax assets
  • Cite the considerations addressed when gathering both positive and negative evidence in support of (or disputing) the need for a valuation allowance from deferred tax assets (DTAs)
  • Specify the important considerations when forecasting future earnings and cite the steps in the process

Section 4

  • Identify acceptable methods for estimating future taxable income, noting their appropriate application to various company situations
  • Recognize the purpose of scheduling, noting the proper implementation of the scheduling process
  • Identify tax planning strategies and determine their use as it relates to the recognition and valuation of deferred tax assets


Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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