ASC 740: A Practical Approach to ASC

by | Oct 1, 2024 | ASC 740, Events, Federal Tax, Tax News

Join Lindsay Haskell and Dan DeLau as they provide an overview and practical implications of Accounting for Income Taxes (ASC 740) during this 4-credit class at CPE4U. 

A Practical Approach to ASC 740

Monday, November 4, 2024 | 1:00 – 4:30 pm MT

4 CPE Hours | Accounting-Technical

Register

Description

ASC 740, the financial accounting standard for computing and reporting income tax provisions, demands painstaking attention to detail. This course will provide an overview of the basic concepts of ASC 740 and the practical affect on financial statements and disclosures for recent changes in laws and regulations on the income tax provisions, deferred tax assets and liabilities, business combinations, and shareholder reporting.

Learning Objectives

After completing this course the participant will be able to:

  • Summarize the principles of ASC 740, types of taxes, and the business application.
  • Illustrate an income tax provision with receivables, deferred taxes and liabilities, uncertain tax position, valuation allowance, and tax expense.
  • Recognize the difference between accounting estimates and errors, and the impact of ­variable tax rates on each component.
  • Describe income tax accounting for stock-based compensation.
  • Identify legal, regulatory, and situational factors that impact accounting for income taxes.
  • Explain the impact of business combinations on ASC 740.
  • Define transfer pricing as it relates to ASC 740.
  • Communicate more effectively with auditors.
  • Distinguish between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) tax accounting treatment.

Instructors

Lindsay Haskell, CPA, is senior tax manager in federal tax at TaxOps Minimization, where she manages projects on federal and corporate tax compliance, ASC 740, indirect tax, and international tax. She earned an M.S. in accountancy at Bentley University. Prior to joining TaxOps she worked in tax compliance at EY and also in private industry.

Daniel DeLau, CPA, has more than 35 years of experience in international and domestic accounting and tax transactions within a U.S. corporate environment working for international accounting firms, and as tax director of multiple public and private companies, each with extensive and complex operations throughout the United States and internationally. He was promoted to partner at Ernst & Young, co-founded Amann DeLau & Associates (now TaxOps), and teaches in the School of Business at Colorado Christian University. He earned a B.S. in Accounting at Indiana University and Master of Taxation at the University of Denver.

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