Accounting for Income Taxes – A Timely Refresher and Update - Events

OVERVIEW

The balance sheet approach to accounting for income taxes
The handling (from creation to write-off) of deferred tax assets and deferred tax liabilities
Need for a valuation account in certain circumstances
Specific examples of differences – temporary and permanent
Special topics such as accounting for net operating losses, multiple tax rates etc.
AMT

WHY SHOULD YOU ATTEND

Attendees will take away valuable information such as:

Knowledge of the balance sheet approach for accounting for income taxes.
A historical accounting for why the profession changed from an income statement approach to the balance sheet approach.
A complete understanding of what are deferred tax assets and deferred tax liabilities.
A grasp of the difference between temporary differences and permanent differences.
Circumstances that require use of a valuation account.

AREAS COVERED

LEARNING OBJECTIVES

The historical problems associated with accounting for income taxes.
How the balance sheet approach dramatically changed income tax accounting.
The fundamentals surrounding the accounting for income taxes.
Future activities and their impact on deferred tax assets and/or liabilities.
The different handling of temporary differences and permanent differences.
The creation of deferred tax balance sheet accounts.
Need for a valuation account when it is more likely than not that the net deferred tax asset will not be realized in full.
Basic provisions of SFAS 109 (ASC 740-10).

WHO WILL BENEFIT

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Events