Accounting for Income Taxes - Timely Refresher and Update 2019
Paul J. Sanchez, CPA, CBA, CFSA, CGMA ia Keynote speaker at ComplianceKey and he conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audi........
Overview
This webinar explains via examples how to comply with the balance sheet approach to recording income tax expense and deferred tax assets and liabilities in accordance with GAAP. It provides clear, unequivocal explanations about the details required to properly account for income taxes. It focuses on the following:
- The balance sheet approach to accounting for income taxes
- The handling (from creation to write-off) of deferred tax assets and deferred tax liabilities
- Need for a valuation account in certain circumstances
- Specific examples of differences - temporary and permanent
- Special topics such as accounting for net operating losses, multiple tax rates etc.
- AMT
Why should you attend this webinar?
Attendees need to master this important topic which has come back into the forefront with the recent "Tax Cuts and Jobs Act of 2017 (Public Law 115-97)." Specifically how to account for deferred tax assets and liabilities must be handled very carefully. Tax accountants, controllers, treasury auditors and others must know the intricacies of income tax accounting. This webinar provides that knowledge needed.
Areas Covered in the Session:
- Accounting for current provision
- Accounting for deferred provision
- Temporary differences and how they "turn around" or reverse
- Permanent differences and how they are ignored for deferred tax purposes
- Net operating losses - carry backs, carry forwards
- Tax rate considerations
- Future rates/revisions of future rates
- Special issues
- Multiple temporary differences
- Multiple tax rates
- AMT
Who can Benefit:
- Tax accountants
- Auditors - internal
- Auditors - external
- Senior management
- CPAs - External
- Financial statement preparers
- Financial statement reviewers
- Controllers' personnel
- Directors
- Audit committee members
- Treasury personnel
Webinar Id: LSHCPJS010
Past Webinar of Paul J. Sanchez
