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

Networking Seminars presents the latest developments on ASC740!  This seminar will discuss address ASC 740 FASB and recent proposals with a focus on international transaction for U.S. mulitnationals.  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 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

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

8:30 AM Continental Breakfast

9:00 AM Business Combinations

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

10:00 AM Refreshment Break

10:15 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!