Recognize Deferred Tax Liabilities for Future Tax Consequences
Tax principles and requirements are complicated and change every year. ASC 740 – formerly known as Statement 109: Accounting for Income Taxes – is a provision that addresses how to account for and report the effects of income taxes resulting from what a company has done for the current year as well as in previous years. This is not a straightforward task.
Join expert speaker Samuel A. Monastra as he walks you through ASC 740 and provides you with a practice aid for preparing the accruals of corporate incomes taxes for a company’s financial statements—in accordance with Generally Accepted Accounting Principles (GAAP).
After attending this audio event, you will be able to recognize the amount of taxes payable or refundable for the current year, as well as deferred tax liabilities and assets for future tax consequences. You will also know how to prepare income tax accruals, prepare reporting disclosures, and identify temporary and permanent timing differences.
This program will teach you how to:
Prepare income tax accruals for financial statements
Prepare the reporting disclosures for the notes to the financial statements
Identify temporary and permanent timing differences
Account for operating loss carryforwards and tax credit carryforwards
Samuel A. Monastra, CPA has more than 20 years of experience in public accounting. He is a recognized expert in financial reporting with a particular emphasis on Revenue Recognition, IASB/ FASB Convergence, IFRS, Business Combinations, Asset Impairments, and Financial Statement Disclosures. Samuel h...