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Course Details

Accounting for Income Taxes (Course Id 467)

QAS / Registry
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 2.5
IRS Credits : 0
Price : $22.45
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 467

Description :

Corporations must file income tax return following the guidelines developed by the IRS.  Since GAAP and tax regulations differ in a number of ways, so frequently do pretax financial income and taxable income. In consequence, the amount that a company reports as tax expense will differ from the amount of taxes payable to the IRS.  This income tax accounting course covers the basic guidelines that companies must follow in reporting income taxes and the disclosure requirement associated with deferred taxes, reviewing some of the concepts and items discussed in ASC 740, Income Taxes.

Usage Rank : 0
Release : 2018
Version : 999
Prerequisites : Basic accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method :
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 11-Aug-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 467

Keywords : Accounting, Accounting, Income, Taxes, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After completing this course, you should be able to:
  • Recognize the four types of temporary differences and identify how these differences may arise.
  • Recognize the four types of temporary differences and identify how these differences may arise.
  • Identify permanent differences and distinguish between permanent and temporary differences.
  • Recognize the impact of different expenses and investment and how they affect deferred income tax.
  • Identify accounting procedures for a loss carryback and a loss carryforward.
Course Contents :

Chapter 1 - Accounting for Income Taxes

Course Learning Objectives


Guidance on Accounting for Income Taxes

U.S. Tax Reform 2017 Key Provisions

Tax Rates

Temporary Differences

General Concepts

Deferred Tax Liability and Assets

Effects of a Lower Tax Rate

Tax Accounting Considerations of Adopting ASC 606

Balance Sheet Presentation

Permanent Differences

Intraperiod Tax Allocation

Interperiod Tax Allocation

Income Statement Presentation

General Requirements

Reporting Income Tax Effects of Items in Accumulated Other Comprehensive Income

Review Questions - Section 1

Net Operating Losses



Multiple Tax Jurisdictions

Tax Credits

Tax Status Changes

Business Investments

Business Combinations

Separate Financial Statements of a Subsidiary

Convertible Debt


Review Questions Section 2


Indefinite Reversal

Comprehensive Example

Other Issues

Dividends on Restricted Stock and Options

Employee Stock Ownership Plans (ESOPs)

Property Taxes

ASC, FASB, and difference between GAAP and IFRS

Review Questions - Section 3

Appendix - Amazon Quarterly Report


CPE Accounting Course: https://www.cpethink.com/qas-cpa-courses
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