Accounting for Income Taxes
A business may issue financial statements with one profit or loss figure, while filing a tax return with a different ending result. These reporting variations are due to differences between the accounting standards and tax regulations. Accounting for Income Taxes covers the essential guidelines to be followed when dealing with temporary differences, carrybacks and carryforwards, and whether to recognize deferred tax assets and liabilities. The course also deals with the proper accounting for tax positions, which tax-related information to disclose in the financial statements, and several related matters. In short, this course is the essential reference for anyone accounting for income taxes.
Format
PDF Course
Level
Overview
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: AC1124
Learning Objectives
- Recognize situations in which a firm is taking a tax position, and specify the accounting implications of doing so.
- Identify those financial statement line items that are stated net of tax.
- Describe the various items that can impact the applicable tax rate.
- Specify how the tax rate is applied in interim periods.
- Recognize the various disclosures related to income taxes.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: August 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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