Mastering Accounting for Income Taxes

Overview

Since its inception nearly 30 years ago, many have continued to struggle with applying the current model for accounting for income taxes, ASC 740. But this does not have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and the use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions, and other classification and disclosure requirements. We will also explore some specialized areas of income tax accounting, such as intraperiod allocations of income tax expense, global minimum tax developments, and the financial reporting impact of the One Big Beautiful Bill Act (OBBBA) signed into law in July 2025, and review finalized and emerging updates to ASC 740, including expanded disclosure requirements under ASU 2023-09.

In summary, this course is the place to be to enhance your accounting for income taxes IQ.

Highlights

• 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 • Classification of deferred tax assets and liabilities • Disclosure requirements • Finalized and proposed changes to ASC 740, including ASU 2023-09, CAMT, and global tax transparency initiatives

Prerequisites

Experience in financial accounting and reporting

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry - controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Objectives

• Identify and calculate the deferred tax asset or liability for an entity • Determine when and how to report uncertain tax positions • Calculate and report the components of income tax expense • Develop appropriate disclosures Comprehend recent or proposed changes to accounting guidance for income taxes