Accounting for Income Taxes

April 25-26, 2019 - Philadelphia, PA

Early Registration $1195 (by March 25) Regular Registration $1395 Groups of 2 or More Save $200 Off Each Registrant use code GRP. Please see our Terms & Conditions for our Financial Aid, Cancellation, Administrative and Other Policies

The seminar will provide tax executives an understanding of the internal revenue code complexities of corporate financial statements. This seminar will focus on the intricacies of accounting for U.S. income taxes, ensure that your financial statements contain necessary disclosures, account for effects of changes in tax laws or rates and incorporate uncertain income tax positions. 

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 Up to 11 CPE Credits

Thursday, April 25, 2019

8:30 AM Registration

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

  • Current taxes per return

  • What taxes are included

  • Permanent differences vs. temporary differences

  • Credits

  • Common Book-Tax Differences

  • Depreciation and amortization

  • Timing of recognition of income

  • Timing of deductions

  • Book vs. tax concepts of income and deduction

10:30 AM Refreshment Break

10:45 AM ASC 740 Tax Contingencies

  • Identifying Uncertain Tax Positions (Recognition)

  • More-likely-than not standard

  • Measuring UTPs

  • Disclosure

  • Workpaper Documentation

11:45 PM Networking Luncheon

12:30 PM 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

2:00 PM Disclosure Rules

  • Tax accounts in income statement and balance sheet

  • Tax footnote requirements

  • Rate reconciliation

  • Additional disclosures

  • Examples

3:15 PM Refreshment Break

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

Friday, April 26, 2019

8:30 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

  • Mergers and acquisitions

  • Restricted stock and ISOs

  • Section 162(m)

  • Bonus and deferred compensation deductions

12:15 PM Luncheon

1:15 PM APB 23 (AC 740.30.25), U.S. International Implications and Foreign Operations

  • Worldwide tax provision as if fully remitted

  • Impact of withholding taxes

  • Exception for earnings indefinitely invested

  • U.S. GAAP vs. foreign GAAP accounting issues

  • Deferred taxes on foreign income

  • Reporting for branches, partnerships and disregarded entities

  • Computing tax on foreign income

  • Gain under FAS 52

12:00 PM Seminar Conclude

Conference Location:

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1500 Market Street, 12th Floor, East Tower,
Philadelphia, PA 19102
215 246 3400

Conference Chairman:

Raymond Wyeth is a Partner at Grant Thornton 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. He received his B.S. from West Chester University in Accounting and his Masters of Taxation from Villanova University.