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Secure Transaction CPE Credits
6 Credits: Accounting
Course Level
Intermediate
Format
Self-Study
Course Description
Accounting for income taxes presents a unique challenge in financial accounting, often creating a discrepancy between pretax financial income and taxable income due to the differences between GAAP and tax regulations. This course is tailored to untangle these complexities. You will delve into the intricacies of ASC 740 Income Taxes, covering everything from the asset and liability method to uncertain tax position assessments. The course goes beyond theory, offering practical insight into the nuances of temporary differences, valuation allowances, and interim reporting. It also addresses asset acquisition and intra-period allocations, ensuring a comprehensive understanding of income tax accounting. By providing clear explanations and specific examples, the course equips you with the skills to reconcile the divergences between accounting standards and tax laws, transforming a daunting task into a manageable part of your financial expertise.
Learning Objectives
Upon successful completion of this course, participants will be able to:
• Recognize the basic principles of accounting for income taxes
• Identify recognition and measurement requirements for uncertain tax positions
• Recognize temporary differences and identify how these differences may arise
• Distinguish between permanent and temporary differences
• Identify method for computing deferred taxes
• Recognize basic rules for income taxes in interim reporting
• Recognize the reporting requirements for income taxes
Course Specifics
1203540
May 5, 2023
Understanding of GAAP
None
156
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
For many years, Delta CPE LLC has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.
QAS Self-Study
