Financial Reporting Issues

Accounting for Income Taxes v4.0

The topic of accounting for income taxes remains one of the most complex subjects for many accountants. In this course, we look at the recording of current tax based on a reporting entity’s taxable income and deferred taxes which are recorded on the basis of differences in assets and liabilities that will “reverse” in the future.  We also review Topic 740, providing illustrative cases as well as a discussion of disclosure requirements.  Finally, we examine the uncertain tax position process with examples and a review of corresponding disclosure requirements.

Learning Objectives:

After completing this course, participants will be able to:

  • Define deferred taxes.
  • Identify practice problems associated with accounting for income taxes.
  • Recognize the steps in deferred tax process.
  • Recognize Topic 740 disclosure requirements.
  • Determine accounting for uncertainty tax positions.
  • Recognize the steps in the uncertain tax position process.
  • Recognize the practical considerations involved with uncertain tax positions.


Prerequisites/Advanced Preparation:

None

Speaker / Author:

John M. Fleming, licensed as a CPA in Pennsylvania, has served as the President and Director of Accounting and Auditing for Kaplan Financial Education, powered by Loscalzo Institute and also as the Director of Content Development for Kaplan Financial Education, powered by SmartPros.  John retired from Kaplan in October of 2017. In retirement, John continues to provide seminars as a discussion leader for Kaplan Financial Education on a part-time basis.

John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA). In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community.  John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

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Price (USD)

Standard: $24.95

Details

Course Code : 99FLE02-v4

Release Date : 10/27/2023
Expire Date : 11/30/2024
Credits :
CPE 1.00
QAS 1.00
Length : 50min
Course Level : Basic
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Reporting Issues

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