ACCOUNTING FOR INCOME TAXES
October 7 & 8, 2013 - New York, NY
ASC 740 (formerly known as "FAS 109") is a set of financial accounting and reporting standards for the effects of income taxes that result from a company’s activities during the current and preceding years. 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, OCTOBER 7, 2013
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
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 Financial Statement 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 740 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
TUESDAY, OCTOBER 8, 2013
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
10:00 AM Refreshment Break
10:15 AM Stock Options and Deferred Taxes
- Taxes and Share-based Payments
- Review of ASC 718/740
- Accounting for Book and Tax Amounts
- Incentive Stock Options
- Recognition of compensation expense for tax purposes
- APIC Pool
- “Straddle” Options/Awards
- Section 162 (m)
- Net Operating Losses
- Examples
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
CONFERENCE LOCATION
Executive Conference Center
1601 Broadway, 8th Floor (at the corner of 48th Street)
New York, NY 10019
Hotel Accommodations
Hotel accommodations are at your discretion. The seminar location is near Times Square. You may wish to visit one of the many discount hotel sites. We suggest:
Crowne Plaza Manhattan
1605 Broadway, New York, NY 10019
Reservations: (212) 977-4000
Hampton Inn Times Square
851 Eighth Avenue, New York, New York, 10019
Reservations: (212) 581-4100
REGISTER NOW
Mail: Networking Seminars, 445 Park Avenue, 9th Floor, New York, NY 10022
Call: 877 500 1510
Email: register@networkingseminars.com
Pay with debit or credit card even if you don’t have a PayPal Account. Click on the Pay Now button and click on the “Don’t have a PayPal Account” link to pay securely with a credit or debit card.
Continuing Professional Education Credit
Networking Seminars Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org
To obtain CPE/CLE credits attendees will need to sign-in/sign-out each day at the time of arrival and departure to receive credits. This is a basic level course offering 15 CPE Credits. Networking Seminars Texas State Board of Public Accountancy as a CPE Sponsor ID is 009866.
Continuing Legal Education Credit
Networking Seminars is an approved CLE Sponsor by the State Bar of California for the period of October 12, 2010 to December 31, 2014. We offer Continuing Legal Education (CLE) Credits in other States for those who request upon registration or at the seminar. This seminar is transitional and non-transitional continuing legal education and is appropriate for new and experience attorney's. CLE Boards will have final approval on the exact number of CLE credits granted.
Cancellation Policy: If you are unable to attend, you will be eligible for a credit in full to attend a future seminar less a $100 administrative fee. You must inform us at less 3 business days prior to the seminar date in order to be eligible for a credit. Credits are valid for one year and should be submitted upon registration at the next seminar. No refunds will be granted. If you have any questions or concerns and/or would like to view are complaint resolution policy please call 877-500-1510 or email: cs@networkingseminars.com