This course is designed as a basic level tax accounting course for those who need to familiarize themselves with accounting for current and deferred tax items. Learn how the tax accounting rules under ASC 740 are applied by working on various exercises for compilation and preparation of a tax provision.
Upon successful completion of this course, participants will be able to:
- Identify the terminology and language of accounting for income taxes and how it relates to the accounting standards and the financial reporting for taxes
- Recognize differences between temporary differences and what are referred to as permanent differences and cite examples of each and their impacts on the financial statements
- Cite relevant facts related to Alternative Minimum Tax (AMT)
- Identify the components of the tax provision and cite formulas for implementing the calculation of the tax provision
- Cite the impact of various activities which are treated differently for book and tax purposes and identify their impact on the balance sheet and income statement
- Identify the characteristic of tax attributes and cite the impact to them in various tax scenarios including the implications of valuation allowances
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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.
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