About this Course
This course provides an overview of the accounting and reporting requirements with respect to deferred income taxes and net operating losses. This includes a discussion of valuation accounts, future income considerations, as well as differences between various types of carryforwards. This course also discusses the key requirements codified within ASC 740 from FIN 48 and certain changes prescribed by ASU 2015-17. Finally, the course concludes with a discussion related to corporate tax rates across different countries in the world.
Upon completion of this course, you will be able to: Identify the GAAP rules for measuring and recording a deferred tax asset and related valuation account, Differentiate between both positive and negative evidence used to assess the appropriateness of a deferred tax asset valuation account, Recognize and differentiate between the various types of carryforwards, Identify key requirements codified within ASC 740 from FASB Interpretation No. 48, Recognize the key changes prescribed by ASU 2015-17, Identify certain tax-planning strategies, and Differentiate between corporate tax rates across different countries in the world.