Income Taxes: Overview of ASC 740

In this income tax training, we start at the beginning. After walking through the scope of ASC 740, you get acquainted with the elements of the income tax provision, including current taxes and deferred taxes. We then dive into deferred taxes, including how to identify them, how to calculate them, and how to understand their impact on the effective tax rate. This online course concludes with looking at disclosures and a review of the various disclosure requirements in ASC 740.

Topics covered in this Overview of ASC 740 CPE course include:

• Introduction to income taxes
• Overview of the income tax provision
• Current tax provision
• Deferred tax provision
• Exceptions to deferred tax recognition
• Income tax disclosures
• Tax provision example

If you're a financial accountant or an auditor who has avoided the subject of taxes, this Overview of ASC 740 CPE course is for you! Looking for more depth on ASC 740? This is the first course in our three-part accounting for income taxes training series. Check out the complete collection, linked below.

Interested in group discounts for your team? Contact us to learn more.

 By the end of this course, you should be able to: 

• Recall the key principles of ASC 740
• Identify exceptions to deferred tax recognition 
• Recognize common financial statement disclosures related to income taxes