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Advanced Income Tax Accounting - Tax Staff Essentials

Author/Moderator: Bobby Carmichael, EdD, CPA
Publisher: AICPA
Availability: Online Access
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Save when you buy the complete Tax Staff Essentials, Level 4 online bundle.

This comprehensive CPE course provides you with an understanding of the federal income taxation of trusts and decedents’ estates, along with the effects certain tax scenarios have on the beneficiaries of those trusts and estates. It will also discuss some basic planning options that help minimize taxes during income accumulation, distribution, or the transfer of wealth to intended beneficiaries.

Topics Discussed

  • ASC 740
  • Comparison of ASC 740 to IAS 12
  • Intra-period tax allocation
  • Business combinations

Learning Objectives
When you complete this course you will be able to:

  • Apply the complex rules of ASC 740 (SFAS No. 109 and FIN 48) to new and challenging situations.
  • Identify the similarities and differences between U.S. GAAP and IFRS with deferred tax implications.
  • Apply ASC 740 to state and local income tax complexities.
  • Determine the applicable tax rate for complex situations.
  • Schedule temporary differences in various complex situations.
  • Apply ASC 740 to changes in tax laws or rates, accounting methods, tax status, and interim periods.
  • Apply ASC 740 to ASC 805, Business Combinations, and ASC 810, and non-controlling Interests in Consolidated Financial Statements.
  • Apply intraperiod tax allocation with a five-step approach for more complex situations.
  • Apply ASC 740 to stock-based compensation issues.
  • Compute the valuation allowance considering items that reduce the need for an allowance.

Prerequisite: Experience in financial reporting and basic knowledge of ASC 740 (SFAS No. 109)

Advanced Preparation: None

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NASBA Field of Study: Accounting
Level: Advanced
Recommended CPE Credit: 10
Advanced Income Tax Accounting - Tax Staff Essentials
CPE On-Demand
Product# 157831
Availability: Online Access 1 Year
For registered users only
AICPA Member:$209.00
Your Price:$269.00
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