Course ID: TOFS

Taxes on the Financial Statements

This course is designed to give a comprehensive overview of the area of accounting for income taxes. The material includes a detailed fact situation that is used throughout the course as the steps involved in computing deferred income taxes and the provision for income taxes are explained.

In-person and live webcast CPE credit: 4.0

Learning Objectives

After completing this course, you will be able to:

Evaluate GAAP accounting for income taxes.
Formulate the current and deferred income tax expense, and evaluate the need for a valuation allowance and a reserve for uncertain tax positions.
Formulate the required financial statement disclosures for income taxes.
Categorize the tax reporting and filing requirements for Form 1120.
Predict other special issues that impact accounting for income taxes.

Major Topics

Review GAAP rules for financial accounting related to income taxes
Computing current and deferred income tax expense
Valuation allowances and uncertain tax positions
Required disclosures for income taxes

Advanced Preparations

None

Who Should Attend

Senior staff and managers

Fields of Study

Taxes

Prerequisites

Basic knowledge of corporate income taxation

Provider

Business Learning Institute

CPE Credits

4.0

Level

Advanced

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