Understanding Accounting For Income Taxes (GAIT)

Since its inception nearly 30 years ago, many have continued to struggle with applying the current model for accounting for income taxes, ASC 740. But this does not have to be you. This course will provide you with the basic knowledge necessary to understand the complexities of this challenging topic. Through discussions and use of exercises, this course will analyze the authoritative literature to provide a thorough understanding of such topics as deferred taxes, income tax expense, uncertain tax positions and other classification and disclosure requirements. We will also explore some specialized areas of income tax accounting, such as intra-period allocations of income tax expense and COVID-19 stimulus effects on income taxes and review proposed updates to ASC 740 which the FASB is contemplating. In summary, this course is the place to be to enhance your accounting for income taxes IQ.