Practical Application of ASC 740/FAS 109: Concepts in Building a Basic Tax Provision
Authored by Shamen Dugger
About this Course
Topics covered include: Taxable Income Schedule;
Deferred Inventory;
Current/Deferred Tax Expense Calculation;
Rate Reconciliation;
Tax Account Rollforward/Adjusting Journal Entries;
Income Tax Footnote/Financial Statements Impacts.
Upon completing this course, you should be able to: Recognize and apply the step by step preparation of the six core tax provision schedules;
Identify key concepts with practical application of ASC 740/FAS 109;
Differentiate temporary difference related to capitalization and cost recovery;
Describe permanent tax adjustment items;
Recognize adjustments adjusted against regular federal income tax after federal tax credits;
Calculate total income tax expenses;
Differentiate statements regarding various diagnostic issues related to the practical application examples;
Identify cumulative timing differences with respect to deferred inventory at the federal level;
Recognize when adjustments against pre-tax income when determining regular federal income tax after federal tax credits should be made;
Recognize total current state tax expenses;
Identify the source of tax account movements;
Recognize the source with respect to federal cumulative timing differences.
$ 65.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of ASC 740/FAS 109 concepts.
Last Updated
03/01/2018
12629
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