Accounting for Income Taxes: A Comprehensive Review & Update Self-Study Webinar (11 Hours)


Expand your expertise in ASC 740 (FAS 109 and FIN 48) and apply those rules to complex issues including:

  • The applicable tax rate, including changes in tax laws and rates
  • The need for, and calculation of, valuation allowances
  • Required disclosures
  • Uncertain income tax positions and Form UTP
  • Deductible and nondeductible goodwill
  • Leases and stock-based compensation
  • Recent guidance from FASB, including the FASB Simplification Initiative
  • The impact of tax reform
  • Issues related COVID-19

To enable both corporate and public accountants to build upon experience and gain a thorough working knowledge of how to apply the latest GAAP and tax rules to complex situations. Case studies, problems and other practical tools provide you with insight into how ASC 740 (FAS 109) applies in a variety of real situations, including valuation allowances and other aspects of financial statements.

  • Income tax accounting overview
    – Identifying temporary differences and determining appropriate tax rates
    – Computing current and deferred taxes
    – Valuation allowances and tax planning strategies
    – NOLs, carryforwards and tax credits
  • Uncertain tax positions and Form UTP
  • Goodwill: GAAP vs. tax treatments
  • Alternative minimum tax
  • Leasing transactions
  • Stock-based compensation
  • Investments in marketable securities, subsidiaries, equity investees
  • Acquisitions and consolidations
  • Disclosure requirements
  • International convergence and the FASB Simplification Initiative
    – Inter-entity transfers
    – Balance sheet classification
  • Interim reporting
  • Impact of tax reform (Tax Cuts and Jobs Act of 2017)
  • The impact of COVID-19

Recognize the approximate annual spending by the federal government and the percentage of that spending supported by corporate income taxes

Identify the appropriate placement of the tax return liability on the balance sheet

Identify the guidance which allows an entity to choose between the taxes payable approach and the deferred tax approach to account for income taxes

Identify the type of transaction which creates a deferred tax asset

Identify the type of transaction which creates a deferred tax liability

Recognize the superseded term for non-temporary differences

Identify temporary differences

Recognize timing differences

Identify the accounts requiring the use of the cash basis for tax purposes

Identify temporary inventory differences

Identify non-temporary differences

Identify the balance sheet changes brought upon by ASU 2015-17

Recognize the FASB’s tentative decisions on income tax disclosures

Recognize the types of international convergence issues being discussed

Recognize the corporate tax rate under the TCJA

Recognize the gross receipts test for the use of the cash method of accounting under the TCJA

Identify the available corporate NOL options under the TCJA

Recognize the basis for deferred taxes for carrybacks

Recognize the circumstances requiring the use of professional judgment when determining the appropriate tax rates for booking deferred taxes

Identify the treatment of adjustments to DTAs and DTLs for changes in tax laws or rates

Identify the result of the receipt of advance rent on the balance sheet

Identify the appropriate placement of a valuation allowance

Identify the circumstances requiring a valuation allowance

Recognize viable tax planning strategies

Recognize examples of positive evidence

Recognize examples of negative evidence

Recognize the model followed by FIN 48

Recognize the applicability of FIN 48 to non-profits

Identify potential impact of tax positions on the financial statements

Identify various tax positions

Identify the methodology for measuring a tax position

Identify the assumptions necessary when recognizing tax positions

Recognize the conditions necessary to consider a tax position to be effectively settled

Recognize the status of FIN 48 and the tax authority’s access to the underlying information

Recognize the revenue threshold for exemption from filing federal Schedule UTP

Recognize the availability of the AMT tax credit in future periods

Recognize the circumstances requiring the use of the equity method of accounting

Recognize the state ramifications of filing a federal consolidated return

Recognize the implications of electing to file a consolidated federal tax return on future years

Identify the tax rules for consolidation

Identify the ability of life insurance subsidiaries to consolidate

Recognize the private company option regarding the amortization of goodwill under ASU 2014-02


Basic knowledge of accounting and corporate income tax or equivalent experience.


No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: