US GAAP CPA – ASC 740 Accounting for Income Taxes, Accounting for Income Taxes.
Course Description
Master the principles of Accounting for Income Taxes under ASC 740 (US GAAP) with this comprehensive course. Whether you’re an accounting professional, finance student, or tax expert, this course will help you understand the complexities of income tax accounting and its impact on financial statements.
What You’ll Learn:
Accounting for Income Tax – Learn how to calculate and record current tax expense.
Deferred Taxes – Understand the creation and impact of Deferred Tax Assets (DTAs) and Deferred Tax Liabilities (DTLs).
Intra-Period Tax Allocation – Explore the allocation of tax expense across different financial statement components.
Uncertain Tax Positions – Identify and account for tax uncertainties in financial reporting.
Income Tax Disclosures – Learn about the disclosure requirements for income taxes in financial statements.
Course Content Overview:
– Overview – Introduction to key concepts, including current and deferred tax, intra-period allocation, and tax uncertainties.
– Current Income Tax – Deep dive into calculating current tax expense and its financial statement impact.
– Deferred Tax Assets & Liabilities – Detailed explanation of DTAs & DTLs with practical illustrations.
– Intra-Period Allocation – Step-by-step guidance on intra-period tax allocation with practice exercises.
– Uncertain Tax Positions – Understanding and applying ASC 740-10 guidance on uncertain tax positions.
Who Should Enroll?
- Accountants & Tax Professionals
- Finance & Accounting Students
- CPA, CMA, and CFA Candidates
- Business Owners & Financial Analysts
By the end of this course, you’ll have a strong foundation in income tax accounting under ASC 740, making you more confident in applying these principles in real-world financial reporting.
