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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

 

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CPE Credit Hours: 6

Field of Study: Accounting, Tax

Publication date: November 2020

 

Accounting for income taxes is one of the more challenging topics of financial accounting. Corporations must file income tax return following the guidelines developed by the IRS.  Because GAAP and tax regulations differ in a number of 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.

This course is designed to help you navigate the complexities of this topic. It covers the accounting and financial reporting requirements for income taxes discussed in ASC 740 Income Taxes. It addresses the basic principles such as the asset and liability method, assessment for uncertain tax positions, and the effect of temporary differences.  It explains the process of accounting for income taxes, including valuation allowance, asset acquisition, intraperiod allocations, and interim reporting. It describes presentation and disclosure requirements. It also provides specific examples to illustrate the application. Relevant references to and excerpts from ASC 740 are discussed throughout the course.

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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