Accounting for Income Taxes – A Timely Refresher and Update
OVERVIEW The balance sheet approach to accounting for income taxes The handling (from creation to write-off) of deferred tax assets and deferred tax liabilities Need for a valuation account in certain circumstances Specific examples of differences – temporary and permanent Special topics such as accounting for net operating losses, multiple tax rates etc. AMT Balanced Sheet Accounting WHY SHOULD YOU ATTEND Attendees will take away valuable information such as: Knowledge of the balance sheet approach for accounting for income taxes. A historical accounting for why the profession changed from an income statement approach to the balance sheet approach. A complete understanding of what are deferred tax assets and deferred tax liabilities. A grasp of the difference between temporary differences and permanent differences. Circumstances that require use of a valuation account. AREAS COVERED Accou...