Learning Objectives
This course outlines the provisions of FASB ASC 740 Income Taxes, in a practical, easy-to-understand
manner.
Upon completion of this course, participants will be able to:
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Identify
Identify
Identify
Identify
Identify
Identify
temporary differences.
deferred taxes.
the valuation allowance.
the income tax expense.
the income tax effects of business combinations.
the financial statement presentation and disclosure.
This course will teach you the basic principles of complying with FASB ASC 740 plus the more
complex applications of this guidance.
Note: Prior to the FASB's recodification of GAAP in 2009, accounting for income taxes was generally promulgated at FASB Statement 109, entitled "Accounting for Income Taxes".
Under the FASB's codification effort, accounting for income taxes is located in the FASB's Accounting Standards Codification (ASC) Topic 740, entitled "Income Taxes". This course utilizes the FASB
ASC 740 cite unless reference to FASB 109 is helpful for historical context.
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