FMN Accounting

FMN - 2018/June, Seg.2 - Accounting for Income Taxes: After the Tax Cuts and Jobs Act

Course Overview
The overall model of accounting for income taxes under ASC 740 continues to rely on an accountant’s professional judgment about an enterprise’s future earnings. According to Kenn Heaslip of the Loscalzo Institute, the enactment of the Tax Cuts and Jobs Act, with its sharply lower tax rates, will have a major impact on your balance sheet. Existing deferred tax assets will need to be computed at the new tax rate, resulting in lower deferred tax asset values as well as an increased income tax expense



Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Identify the steps involved in accounting for income taxes;
  • Recognize the issues surrounding the valuation allowance when accounting for temporary versus permanent differences between GAAP and tax income;
  • Identify the changes brought about by the Tax Cuts and Jobs Act as it relates to accounting for income taxes; and
  • Recognize the impact of the change in tax rates on deferred taxes.

Content Partner:

FMN online

SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of
content, SmartPros has been providing mandatory continuing education
products since 1981. SmartPros provides services and content to its
professional and corporate clients, in a variety of media including Web, CD
ROM, and video. In the accounting market, SmartPros also has a predominant
news and information portal which receives 200,000+ visits per month and
provides services to over 100,000 subscribers. SmartPros' customers include
50% of the Fortune 500, as well as the major firms and associations in each
of its professional markets.


Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.

Speaker / Author:

FMN Online
SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.

Software & Hardware Requirements:

  • 56k or Greater Internet Connection
  • Adobe Acrobat® Reader for the .pdf files
  • Adobe® Flash® Player 9 or higher
  • Modern DHTML Compatible Browser
  • Ram: 256 MB minimum
  • Sound card with speakers/headphones
  • Windows or Mac OS

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Price (USD)

Standard Rate: $69.90

Details

Course Code : FMN1257-FM

Release Date : 06/08/2018
Expire Date : 01/13/2020
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

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