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    Networking Seminars Inc.

    445 Park Avenue, 9th Floor

    New York, NY 10022


    Get Social

    November 17 & 18, 2014 - Houston, TX

     Understanding the financial accounting and reporting standards for the affects of income taxes that result from a company’s activities during the current and preceding years is critical in today's economic environment.  This seminar will guide you to recognize the amount of taxes payable or refundable for the current year and the deferred tax assets and liabilities relating to the future tax consequences of events that have been recognized in a company’s financial statements or tax returns.  

    This seminar will focus on accounting for income taxes, current taxes due and deferred taxes arising due to differences in book basis and the tax basis of assets and liabilities, tax credit carry forwards and loss carry forwards, valuation allowances, how and when to report uncertain tax positions and the impact of changes in tax laws and rates.  This seminar is for corporate accounting, tax and finance executives, tax specialists and Certified Public Accountants.  There is no prerequisite or advance preparation for this basic level, group live seminar.

    Earn 13.5 CPE/CLE Credits  (Accounting & Audit Credits)

    MONDAY, NOVEMBER 17, 2014

    8:00 AM Registration & Continental Breakfast

    9:00 AM Current Tax Provision; Credits and Common Book Tax Differences

    • Current taxes per return
    • What taxes are included
    • Credits
    • Common Book-Tax Differences
    • Depreciation and amortization
    • Timing of recognition of income
    • Timing of deductions
    • Book vs. tax concepts of income and deuction

    10:30 AM Refreshment Break

    10:45 AM Deferred Taxes and Valuation Allowances 

    • Tax provision on temporary differences
    • Computing deferred tax
    • Recognition and measurement
    • Presentation as operating income of OCI
    • Deferred tax liabilities:  when to recognize
    • What is a deferred tax asset?
    • Uncertainty of recognition of assets
    • Examples

    12:15 PM Luncheon

    1:15 PM Disclosure Rules

    • Tax accounts in income statement and balance sheet
    • Tax footnote requirements
    • Rate reconciliation
    • Additional disclosures
    • Examples

    2:15 PM Refreshment Break

    2:30 PM ASC Tax Contingencies

    • Identifying Uncertain Tax Positions (Recognition)
    • More-likely-than not standard
    • Measuring UTPs
    • Disclosure
    • Workpaper Documentation

    3:30 PM Interim Period Taxes

    • The basic approach to recognition of taxes in interim period – use of estimate of annual global tax rate from recurring operation (i.e., tax effect of “ordinary income”)
    • Tax effects of discrete period items (e.g., OCI, discontinued operations, APIC)
    • Exceptions to the basic approach
    • Unique aspects of interim period tax accounting (e.g., NOL utilization, valuation allowance, “naked credit”, exception to “with and without”, business combinations)
    • Required disclosures
    • SEC comment letters

    5:00 PM Seminar adjourns for the day


    8:00 AM Continental Breakfast

    9:00 AM Business Combinations and Intercompany Transactions

    • Overview of purchase accounting
    • Basis differences in assets arising in business combinations
    • Amortizable acquired assets
    • Goodwill
    • Intercompany pricing

    10:15 AM Refreshment Break

    10:30 AM Tax Deductions for Compensation and Employee Benefits: Common Issues and Traps for the Unwary

    • Mergers and acquisitions
    • Restricted stock and ISOs
    • Section 162(m)
    • Bonus and deferred compensation deductions

    12:00 PM Luncheon

    1:00 PM APB 23 (AC 740.30.25), U.S. International Implications and Foreign Operations

    • Foreign Provision Computation
    • Un-repatriated foreign earnings
    • Classifying entities as either domestic or foreign
    • Domestic Subsidiary ASC 740-30-25-5 & -7
    • Foreign Subsidiary ASC 740-30-25-17 & -18
    • Inside Basis Differences
    • Financial Statement Disclosure
    • Indefinite reversal criteria documentation
    • Partial reinvestment
    • Branches, partnerships and hybrid entities
    • Subpart F income

    3:00 PM Seminar Concludes


    The Houstonian Hotel, Club and Spa
    111 North Post Oak Lane
    Houston, Texas 77024
    Reservations:  713.680.2626 / 800.231.2759
    Discounted Room Rate $235 per night
    (Please ask for Networking Seminars Rate)


    Mail: Networking Seminars, 445 Park Avenue, 9th Floor, New York, NY 10022
    Call: 877 500 1510

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