- NY Credits : 8.0
- TX Credits : 8.0
This course offers a comprehensive examination of the various underlying concepts upon which GAAP authoritative literature on the topic is built. Topics covered in depth include temporary and permanent differences, measurement of deferred tax assets and liabilities, computation of current and deferred income tax expense or benefit, balance sheet classification, income statement presentation, tax-planning strategies, and required disclosures. The course includes updates from the Tax Cuts and Jobs Act signed into law in December 2017, as well as the CARES Act of 2020.
Upon successful completion of this course, the user should be able to:
identify recognition and measurement,
identify valuation allowance and tax-planning strategies,
identify applicable tax rates,
recognize presentation methods and required disclosures,
recognize the impact of what was formerly FIN 48 on accounting for income taxes, and
recognize how to apply the change in the federal tax rate that was enacted on December 22, 2017 as part of the Tax Cuts and Jobs Act.