CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Accounting for Income Taxes: Intermediate

Icon_Self-Study
Self-Study
Icon_Level
Intermediate
Credits
CPE Credits
4 Credits: Accounting

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.

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

Course Specifics

Course ID
1163449VID
Revision Date
April 1, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Lynne Glennon Headshot
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. …

Lynne Glennon Read More »

Accounting for Income Taxes: Intermediate

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$196.00

Icon_Self-Study
Self-Study
Icon_Level
Intermediate
Credits
CPE Credits
4 Credits: Accounting

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.

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

Course Specifics

Course ID
1163449VID
Revision Date
April 1, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Lynne Glennon Headshot
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. …

Lynne Glennon Read More »

Accounting for Income Taxes: Intermediate

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$196.00