BarbriSFCourseDetails
  1. keyboard_arrow_leftBack

Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Accounting

Date & Time
  • event Date

    Tuesday, February 7, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$197.00
CPE
ALL

This course will analyze various components of accounting for income taxes that can be traps for the unwary, including certain business combination issues, valuation allowance assessments, tax internal controls, along with implications of recent tax law changes and other areas of complexity.

Faculty

Daniel Newton
Partner, National Tax Office
BDO USA

Mr. Newton is the ASC 740 Technical Practice Leader in BDO’s National Tax Office in addition to serving as a consultant in the firm’s National Assurance ASC 740 group. As the technical practice leader, he supports BDO’s Tax practice on ASC 740 matters, and as the Northeast regional consultant, Mr. Newton conducts formal ASC 740 consultations for assurance teams on various technical matters. In his dual role, Mr. Newton is responsible for firm leadership regarding ASC 740 matters for both tax and assurance, including training development, technical advice, and thought leadership tools.   

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Thomas M. Faas
Managing Tax Director
BDO USA

Mr. Faas is a managing director in the Atlanta office of BDO and is part of the national tax advisory practice specializing in Accounting for Income Taxes. He has over forty years of experience in public accounting, working with public and private clients in the healthcare, manufacturing, and technology industries. Mr. Faas has extensive experience in income tax accounting and corporate tax, including international tax and mergers and acquisitions. He spent over twenty years with PwC and fifteen years with KPMG in Boston.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio

Description

ASC 740 provides a methodology for recognizing current taxes payable and refundable and recording expected deferred tax obligations and refunds. Few areas of financial reporting are more complex. Continued tax law changes, as well as anticipated changes to income tax accounting disclosures and other updates from the FASB, this course will take a fresh look at these complex areas and their implications to income tax provision calculations.

Listen as our panel of accounting experts provides practical advice as well as hands-on examples of calculations and financial presentation of these continually revised tax provisions.

Outline

  1. Implications of recent US tax law changes
  2. Complexities in business combinations
  3. Valuation allowance considerations
  4. Tax accounting for investments in partnerships
  5. Tax internal control considerations
  6. Financial statement presentation and other FASB updates
  7. Best practices

Benefits

The panel will review these and other critical issues:

  • Accounting for certain credits included in the Inflation Reduction Act and CHIPs Act
  • Tax accounting for goodwill in a business combination
  • Valuation allowance issues in business combinations
  • Outside basis difference considerations for investments in partnerships
  • Tax internal control best practices

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify complex areas with business combination tax accounting
  • Understand best practices for tax internal controls
  • Recognize the appropriate tax accounting for investments in partnerships
  • Understand potential impacts to tax disclosure requirements

  • Field of Study: Accounting
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of cost allocation principles; familiarity with government standards for nonprofit organizations receiving federal grant monies

Strafford Publications, 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.