Objectives of the Presentation
During this session the expert will help the audience to understand the fundamentals as well as the recent regulatory developments in ASC 740 Income Tax Accounting. The expert will also provide the audience with an in-depth discussion of the practical tasks, legal and regulatory challenges in preparing income tax disclosure requirements of ASC 740.
Why Should you Attend
To enable both corporate and public accountants to build upon experience by gaining a thorough working knowledge of how to apply the latest tax rules to complex situations faced by organizations today. Case studies and other practical tools will give you insight into how ASC 740 (FAS 109) applies to a variety of real issues. You'll gain a clear understanding of the relationship between the completion of corporate tax returns and tax accounting.
This is a must attend event for anyone interested in understanding the significant issues relating to ASC 740 Income Tax Accounting updates.
The speaker will present his thoughts and professional opinions on how to best comply with the disclosure requirements and help the audience avoid common risks and pitfalls. Key topics include:
Who can Benefit
- The sources of deferred tax assets and liabilities
- Calculating the deferred tax asset or liability
- Reporting income tax expense and balance sheet items
- Defining, analyzing, and reporting uncertain tax positions
- Determining appropriate intraperiod allocations
- Classification of deferred tax assets and liabilities
- Disclosure requirements
- ASC 740 - recent updates
- Risks and legal challenges in ASC 740
- Valuation requirements
- Reporting current and deferred Income Tax expense
- Up-to-the-minute regulatory developments
- Tax Attorneys
- Tax Executives and Directors
- Tax Advisers and Consultants
- Income Tax Professionals
- Tax Practitioners
- Corporate Tax Managers, Tax Accounting Managers and supervisors, and tax professionals
- Other related/interested Professionals and Organizations
- Individuals those are responsible for preparing and reviewing tax provisions used for the footnote disclosure in the annual report
The goals of financial accounting and tax accounting are not aligned. Financial accounting exists to provide useful information about a business to its owners, managers, creditors, and other interested parties. Conversely, tax accounting exists to provide financial information about the collection of revenue by the tax authorities. Thus, tax accounting serves the purpose of reporting tax related financial information in a financial accounting format.