ASC 740: Accounting for Income Taxes

When CPAs are asked which accounting topics they fear most, accounting for income taxes is usually near the top of the list. These ASC 740 CPE courses are designed to make that difficult area of U.S. GAAP more approachable by building from the income tax provision and current taxes into deferred tax accounting and uncertain tax positions.

The collection begins with an overview of ASC 740, Accounting for Income Taxes, including the income tax provision, current taxes, exceptions to deferred tax recognition, and income tax disclosures. The next course focuses on identifying and categorizing temporary differences, selecting the appropriate tax rate, calculating deferred tax assets and liabilities, and evaluating valuation allowances. The final course addresses the recognition and measurement of uncertain tax positions and includes a case study that applies the guidance.

Topics covered include:

• The income tax provision and current taxes
• Exceptions to deferred tax recognition
• Temporary differences
• Deferred tax assets and deferred tax liabilities
• Valuation allowances
• Uncertain tax positions under ASC 740
• Income tax presentation and disclosures

Further details

The collection begins with the income tax provision and the current-tax component of ASC 740, Income Taxes. Learners review how current tax expense or benefit is determined, the basic structure of the tax provision, exceptions to deferred-tax recognition, and the disclosures that help users understand an entity's income tax position.

The second course moves into the heart of deferred-tax accounting. It explains how to identify and categorize temporary differences, determine the appropriate tax rate, calculate and record deferred tax assets and deferred tax liabilities, and evaluate whether a valuation allowance is required. These are the mechanics that connect differences between book carrying amounts and tax bases to future tax consequences in the financial statements.

The final course addresses uncertain tax positions, including how tax positions are evaluated under ASC 740 and how the recognition and measurement framework is applied. A concluding case study gives learners an opportunity to bring the current-tax, deferred-tax, valuation-allowance, and uncertainty concepts together in one analysis.

Who will benefit

These ASC 740 CPE courses are designed for accountants, tax provision teams, controllers, and auditors who prepare, review, or audit income tax accounting under U.S. GAAP. They are especially useful for professionals who need to understand the bridge from the tax return to the financial statements, including temporary differences, deferred taxes, valuation allowances, and uncertain tax positions.

Value proposition

Purchase all 3 courses for $379 instead of $540 if purchased separately—a savings of $161.

Interested in group discounts? Contact us today to learn more.