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DET345 – Accounting for Income Taxes

Course and Test $ 100.00
Course and Test PDF $  80.00
Additional Hard Copy Test $   18.00
Additional Online Test $   18.00


SKU: N/A Category:

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CPE Credit Hours: 6

Field of Study: Accounting

Publication date: November 2022


Accounting for income taxes is one of the more challenging topics of financial accounting. Corporations must file an income tax return following the guidelines developed by the IRS. Because GAAP and tax regulations differ in several ways, so frequently do pretax financial income and taxable income. Hence, the amount that a company reports as tax expense will differ from the amount of taxes payable to the IRS. Those differences produce a complex accounting standard. Tax-related restatement is one of the leading causes of financial restatements.

This course is designed to help you navigate the complexities of income taxes. It identifies ASC 740 Income Taxes accounting and financial reporting requirements for the effects of taxes based on income. It describes basic principles, such as the asset and liability method, tax positions assessment, and the effect of temporary differences. This course also explains how to assess whether a valuation allowance is necessary for its deferred tax assets, and covers key concepts, such as asset acquisition, intraperiod allocations, and interim reporting related to income taxes. Finally, it addresses financial statement presentation and disclosure.

More Information

This is a self-study CPE course.
Program level: Intermediate
Prerequisites: Understanding of GAAP
Advanced Preparation: None Required
Minimum Final Examination Passing Grade: 70%
Maximum Time Allowed To Complete Program: One Year From Date Of Purchase