ASC 740: Income Tax Accounting for 2013
Overview:
With the ever-changing and complex regulatory environment, compliance with accounting for income taxes (ASC 740), formerly known as FAS 109, has become more difficult for companies to manage efficiently. Companies must work hard to ensure that they minimize compliance related errors with the current tax laws and financial accounting and reporting standards.
In this two-hour LIVE webcast, a panel of distinguished professionals assembled by The Knowledge Group will discuss the significant topics related to tax accounting rules and implementation of ASC 740. The faculty will discuss:
– Brief Overview of ASC 740 and Refresher in Current and Deferred Tax Computation
– Pertinent Accounting Principles and Tax Accounting Provisions
– Application of ASC 740 to State and International Income Taxes
– Hot Topics in Internal Controls
– Issues Relating to Compensation and Benefits Developments
– Best Practices and Practical Guidance for Tax Preparation, Compliance and Effectiveness
– Up-to-the-Minute Regulatory Updates
This is a must attend event for Finance Executives, CPAs, Attorneys, Enrolled Agents, Tax Practitioners, and other Interested Professionals. Attending this course will give you the tools you need to understand the latest developments in ASC-740.
Agenda:
SEGMENT 1:
Douglas I. Schwartz, CPA/CFF, Cr.FA, Managing Member,
Douglas I Schwartz, LLC. Freed Maxick CPAs, PC
Bank Mergers: Overview
- Identification of permanent versus temporary differences
- Valuation Allowance, balancing positive versus negative indicia on the recording of deferred tax assets and the related VA.
- Valuation Allowance considerations for an investment company versus an operating company.
- Impact of recent tax legislation.
- APB 23 Repatriation of Foreign Earnings.
- Consolidated provision considerations for the multinational company.
- FIN 48 GAAP accounting versus tax return accounting and disclosure of uncertain tax positions (UTP’s).
SEGMENT 2:
Mark A. Stebbins, CPA, Director – Tax Practice Leader
Samuel C. DiSalvo, CPA J.D., Director,
- Business combination issues
- Fresh start accounting
- Interim Reporting
- Stock based compensation issues
- Foreign operations
- Financial instrument issues
- Accounting period and methods
SEGMENT 3:
Angela L. Evans, Partner, Business Tax Services,
Ernst & Young LLP
- The extenders
- Apb 23 /Foreign operations –general rules
- Valuation allowances
- how Subpart F plays into that
- EITF’s / uncertain tax positions
- Assurance approach
Who Should Attend:
- Finance Executives
– CPAs
– Tax Attorneys
– Enrolled Agents
– Tax Practitioners
– Tax Directors
– Tax Managers/Executive
– Internal Audits
– CFOs
– Financial Planners and Executives
– Tax Consultants
– And Other Interested Professionals
Douglas Schwartz is the Managing Member of Douglas I. Schwartz, LLC. Certified Public Accountant, Certified Forensic Accountant and Certified in …
Mark is the director in charge of Freed Maxick CPAs, P.C. Tax Practice. Mark is also a member of the …
Sam is a member of the Firm’s SEC practice. He concentrates his practice in tax planning and advisory services for …
Angela is a tax partner with Ernst & Young LLP. Angela has more than 20 years of experience serving clients …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
134416
NASBA Field of Study:
Accounting
NY Category of CLE Credit:
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
Douglas I. Schwartz, LLC
About Douglas I. Schwartz, LLC
Douglas I. Schwartz LLC core practice ares are tax consulting, ASC 740/FIN 48 and forensic accounting, including litigation support services. The ASC740/FIN 48 practice services all types of entities and covers Federal, foreign and state income tax matters mainly affecting the financial services industry. The firm regularly works with multinational companies regarding its global income tax accounting and tax controversy matters. In addition, the firm has extensive experience assisting private equity and hedge funds with FIN 48 matters related to domestic and foreign withholding and reporting as well as FATCA implementation. Douglas I. Schwartz, LLC also provides outsourcing ASC 740/FIN 48 services to companies that do not have a tax department, or where its outside auditors are prevented from doing such work because of independence issues. Transaction advisory services include assistance with IPOs or other types of corporate transactions, Sarbanes-Oxley implementation, due diligence M&A related tax analysis, advice regarding the establishment and management of tax efficient foreign operations and offshore investment vehicles.
About Freed Maxick CPAs, PC
Freed Maxick CPAs, P.C. is one of the largest accounting and consulting firms in Western New York and a Top 100 largest CPA firm in the United States. Serving closely held businesses, SEC companies, governmental and not-for-profit clients across New York state, nationally and internationally, Freed Maxick mobilizes high-performance professionals to guide client growth, compliance, security and innovation. Freed Maxick specializes in the healthcare, manufacturing, real estate, banking, agribusiness and private equity sectors, and has more than 260 personnel in offices in Buffalo, Batavia, Rochester and Syracuse, New York. Visitwww.freedmaxick.comor follow the Firm on Twitter @FreedMaxickCPA’s
Website: https://www.freedmaxick.com/
About Ernst & Young LLP
To help you meet the challenges of today’s complex business environment, including demands for more transparency and greater tax department effectiveness, we provide assistance in three key areas:
• Tax accounting under IFRS and/or local GAAP
• Tax function performance: improving organizational strategy, processes and data/systems effectiveness
• Tax risk: identifying, prioritizing, monitoring and remediating risk
Our talented people, consistent global methodologies and tools and unwavering commitment to quality service will help you build the strong compliance and reporting foundations, sustainable organizational strategies and effective risk management protocols that help your business achieve its potential. It’s how Ernst & Young makes a difference.
Website: https://www.ey.com/