Accounting for Income Taxes Workshop: ASC 740 (Advanced)

General Description:

Participants will learn certain advanced provisions of Accounting Standards Codification (ASC) 740, Accounting for Income Taxes, including comprehensive examples that illustrate the treatment of common items as well as fact patterns that indicate the potential application of the more specialized provisions of ASC 740 to a profitable company, including stock compensation, foreign operations, and purchase accounting.

Learning Objective:

After completing this course the participant will be able to:

• Explain and apply the objectives and principles of ASC 740.
• Identify the key issues related to tax accounting for stock compensation and be able to prepare the associated calculations.
• Analyze and identify the basic federal income tax rules that apply to stock compensation.
• Explain and apply the rules surrounding interim reporting from an ASC 740 perspective.
• Interpret and demonstrate the tax accounting aspects of purchase accounting.
• Describe and illustrate the implications of accounting for foreign operations in a tax provision.
• Explain and apply the "permanent reinvestment" assertion (formerly APB 23).

Instructors:

Matt Lazzeri, CPA, is a tax partner in the Business Tax Services group at Ernst & Young LLP in Denver, focusing on all aspects of federal and state income tax and on ASC 740. He has worked in federal and state tax matters for 20 years. He earned his undergraduate degree in business and M.S. in accountancy at the University of Colorado, Boulder.

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