Topics covered include: Requirements GAAP for changes in tax laws and/or rates for adjustments in deferred tax liabilities and assets; SEC Staff Accounting Bulletin 118 and its application to private companies and not-for-profits, if any; Discounts on repatriations;
Discounts on alternative minimum tax credits; Base erosion anti-abuse tax accounting; Accounting for global intangible low-taxed income; Other matters deemed appropriate.
Upon completing this course, you should be able to: Recognize current Generally Accepted Accounting Principles (GAAP); Differentiate requirements for adjustments to deferred tax liabilities and assets for the effect of a change in tax laws or rates;
Identify SEC Staff Accounting Bulletin 118 and its application to private companies and not-for-profits; Recognize and apply discounts when necessary.
A general understanding of GAAP and deferred taxes.