ACCOUNTING FOR INCOME TAXES
JUNE 25 & 26, 2015 - NEW YORK, NY

Don't miss this chance to upgrade your tax department knowledge on the latest tax accounting rules and learn the fundamental principles for assembly and compilation of tax provision data. This two-day, entry-level course with live group instruction on basic tax accounting principles and concepts including recent changes for accountants, attorneys, enrolled agents and other tax practitioners.

Earn 15 CPE/CLE Credits  (Accounting & Audit Credits)

THURSDAY, JUNE 25, 2015

8:30 AM Registration & Continental Breakfast

9:00 AM - Overview of U.S. Accounting for Income Taxes & International Implications

  • Current taxes per return
  • Credits
  • Common Book-Tax Differences
  • Depreciation and amortization
  • Timing of recognition of income
  • Timing of deductions
  • Effective tax rate forecasting and interim reporting
  • Identifying Your Effective Tax Rate Drivers
  • ASC 740 FASB proposals

Raymond Werth, Partner, Grant Thornton LLP
Yuri Matat, Manager, Grant Thornton LLP

10:30 AM Break

10:45 AM Implications from Deferred Taxes

  • Computing deferred tax
  • Recognition and measurement
  • Presentation as operating income of OCI
  • Income statement and balance sheet consequences
  • Uncertainty of recognition of assets
  • Examples

11:30 AM Valuation Allowances

  • Fair Value Measurement
  • Business Combinations
  • Goodwill and Other Intangibles
  • Impairment
  • Debt/Equity Determinations
  • Tax footnote disclosure

12:15 PM Luncheon

1:15 PM Financial 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 Accounting for Uncertain Tax Positions

  • Identifying Uncertain Tax Positions (Recognition)
  • More-likely-than not standard
  • Measuring UTPs
  • Disclosure
  • Review of applicable rules and recent developments

3:30 PM Interim Period Taxes

  • Exceptions to the basic approach
  • Required disclosures
  • SEC comment letters

5:00 PM Conference adjourns for the day

FRIDAY, JUNE 26, 2015

8:00 AM Continental Breakfast

8:45 AM Business Combinations

  • Acquisition risk management
  • Goodwill analysis
  • Contingent consideration
  • Indemnification arrangements
  • Measurement period adjustments 

9:45 AM Refreshment Break

10:00 AM Tax and Disclosure of Derivatives and Hedging Activities

  • Accounting for hedges and derivative products – update on ASC 815 (FAS 133)
  • Comparison of ASC 815 to tax rules related to hedging and derivatives
  • Common M-1 adjustments related to hedging and derivative activities
  • Financial disclosure issues involving derivatives and financial products - comparison with the IFRS accounting guidelines

11:00 AM Income Tax Accounting for International Operations – Part 1

  • Tax accounting issues affecting intangibles
  • Tangible Property “Repair” Regulations
  • Financial reporting implications from the Regulations’ tax elections and accounting method changes
  • US anti-inversion measures 
  • US IP migration structures

12:30 PM Luncheon

1:00 PM Income Tax Accounting for International Operations – Part 2 

  • Investments in subsidiaries, joint ventures, equity method investee, partnerships
  • Tax accounting model for variable interest or check-the-box entities (branches)
  • Recent issues with indefinite reinvestment assertions - application of ASC 740-30-05 (APB 23)
  • Foreign currency translations under ASC 830 and deferred tax effects from intercompany loans and purchase price adjustments
  • Foreign currency gains (losses) under ASC 830 and deferred tax effects from section 988 gains (losses)

2:30 PM Questions & Answers

3:00 PM Conference Concludes

CONFERENCE LOCATION

Executive Conference Center
1601 Broadway, 8th Floor (at the corner of 48th Street)
New York, NY 10019

Hotel Accommodations
Crowne Plaza Manhattan, 1605 Broadway
New York, NY 10019
Reservations (212) 977-4000
Please mention AMA for a discount

Register Now!

 

Speaker Biographies

Yuri Matat is a Manager in Grant Thornton LLP’s New York office with 5 years of Big 4 experience and 3 years in the private/government sector.  His experience has been primarily in the consumer products industry with focus on corporate tax accounting and tax compliance.  Having also spent a year at a multi-national insurance company as a Tax Manager in the financial reporting group, Yuri has experience assisting with tax disclosures and analysis. Yuri has been involved in a wide variety of tax related work, including audit of the income tax provision for public/private companies, corporate tax compliance, international tax matters, and sales/use tax analysis and compliance.  Yuri received his Bachelor of Business Administration Accounting - Zicklin School of Business Baruch College and is a Certified Public Accountant in New York.

Raymond Wyeth is a Partner at Grant Thornton LLP in New York.  He orchestrates the execution of projects blending a practical technician approach along with his extensive ASC 740, Accounting for Income Taxes expertise. Raymond’s approach to every project is to simplify the technical, ease the burden, and execute with finesse. Raymond has over 15 years of tax experience with commercial and service companies. His technical expertise includes Corporate, Partnership and S-Corporation taxation., as well as extensive experience with ASC 740 – Accounting for Income Taxes and Accounting for Uncertainty in Income Taxes.  Raymond’s robust experience includes both domestic and foreign operations, publicly-traded as well as privately-held companies.  Raymond actively participates in the Financial Executives Insitute (“FEI”), New York Chapter. As the Sponsor contact, Raymond works with FEI membership and Grant Thronton to bridge the need for industry specific thought-leadership.  Raymond is working extensively with professional service, manufacturing and cloud- based entities. These dynamic companies range from $8 billion in sales to start-up companies.  Raymond’s extensive experience and education allow him to assist at all cycles of an entity’s life and deliver his technical expertise ensuring the Grant Thornton experience.  Raymond serves as the lead on his assignments, assisting Companies with the complexity inherent in ASC 740, Mergers and Acquisitions, Reorganizations, Tax optimization strategies for flow-through entities, in addition to foreign tax analysis. Orchestrating these assignments requires Raymond to coordinate with Grant Thornton International Affiliates, giving Raymond a worldwide network within Grant Thornton.