OasisLMS

The foundation of income tax accounting

This bite-sized course, an excerpt of Income Tax Accounting – Tax Staff Essentials, guides you through essential concepts that underpin income tax accounting.

Through examples and scenarios, the course will help you stay current on the complicated income tax accounting matters relevant to your clients.

We read FASB ASC® 740 for you

As with most areas of accounting, standards govern accounting for income taxes. In this course, you’ll get a survey of the FASB ASC 740’s most important topics, including:

• Book versus tax differences
• Current and deferred income tax provisions
• State and local income taxes

Learning Outcomes

• Recall the objectives and key terms of FASB ASC 740, Income Taxes.
• Identify the entities and tax types that fall within and outside the scope of FASB ASC 740.
• Distinguish between permanent and temporary book-tax differences.
• Identify the basic model for recognition and measurement of deferred taxes.
• Identify the steps involved in the tax provision calculation for SALT jurisdictions.

Key Topics

• Scope of FASB ASC 740
• Deferred tax assets and liabilities
• Permanent and temporary differences
• State and local tax accounting

Who Will Benefit

• Tax staff and seniors
• Audit staff and seniors
• Corporate accountants