Resources

Day 1: Deferred Tax E-Bootcamp

Today’s regulatory and legal environment has complicated the way many companies approach Accounting for income taxes under ASC 740. The ever-changing tax laws and threat of restatement, coupled with tight timelines and nuances of the provision process make it one of the most complex and challenging tasks facing corporate accounting and tax professionals today. Extensive expertise and judgement are necessary to determine not only valuation allowances and temporary differences, but also forecasts and disclosures regarding deferred tax assets and liabilities. This makes the entire provision process particularly complicated and risky in that the outcome will have significant impact on the company’s financial statements.

We know, however, that many businesses do not have the internal tax resources to efficiently and accurately handle this process. During this E-Bootcamp, we will take you back to basics to thoroughly explain deferred taxes, as well as address the practical tasks and challenges corporate tax professionals face when preparing these complicated income tax disclosures. We also walk you through real-world case studies and actual examples for a more hands-on approach. Join us for this hands-on, E-Bootcamp that will cover everything you need to know about deferred taxes and get you in shape for quarterly and annual provision analysis and reporting.

Day 1:

Deferred Taxes Overview & Back to the Basics

In this high-level overview we will take a look at the deferred tax landscape as well as explain the real difference between current and deferred tax expenses. We will walkthrough current calculations (to include ASC 740) as well as deferred expenses, what they mean and how they should look on your financial statements and tax footnotes.

Financial Statement Disclosures

During this portion of the discussion, we will compile a financial statement disclosure including items such as: statute of limitations, NOL and credit carryforwards. Additionally, we will shed light on ASC 740-10 regarding uncertain tax positions.

Be sure to download all three days of the E-Bootcamp and you will walk away with a better understanding of deferred taxes, how to account for them properly and the role they play in your financial statements.

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