Demystifying the Magic of Deferred Taxes

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

A business may issue financial statements with one profit or loss figure while filing a tax return with a different ending result. These reporting variations are due to differences between the accounting standards and tax regulations.

A business needs to account for deferred taxes when there is a net change in its deferred tax liabilities and assets during a reporting period. The amount of deferred taxes is compiled for each tax-paying component of a business that provides a consolidated tax return.

This online continuing education course covers the essential guidelines to be followed when dealing with temporary differences, carrybacks and carryforwards, and whether to recognize deferred tax assets and liabilities.

Major Topics Covered in this online CPE webinar:

  • Identify the existing temporary differences and carryforwards.
  • Determine the deferred tax liability amount for those temporary differences that are taxable, using the applicable tax rate.
  • Determine the deferred tax asset amount for any carryforwards involving tax credits.
  • The difference between taxes payable (refundable), unrecognized tax benefit liabilities, and deferred tax liabilities (assets).
  • Tax credit carryforwards and tax loss carryforwards.
  • Valuation allowance for deferred taxes.
  • Disclosures

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Learning Objectives

  • To recognize situations in which a firm is taking a tax position and specify the accounting implications of doing so.
  • To describe the various items that can impact the applicable tax rate.
  • To recognize the various disclosures related to income taxes.
  • To determine the deferred tax liability amount for those temporary differences that are taxable, using the applicable tax rate.
  • To determine the deferred tax asset amount for those temporary differences that are deductible, as well as any operating loss carryforwards, using the applicable tax rate.
  • To determine the deferred tax asset amount for any carryforwards involving tax credits.

Recommended For

This online CPE course is recommended for CPAs, CMAs, CIAS, Other Accounting, and Finance Professionals, Business Owners, Accounting Managers, or Directors involved in financial reporting.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Accounting
  • Senior Accountant
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CPD Credit for Accredited in Business Valuation (ABV)
  • 2 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 CPE Credit for Certified Fraud Examiner (CFE)
  • 2 CPD Credit for Certified Financial Forensics (CFF)
  • 2 CPE Credit for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Intermediate
  • Credits :
    2
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    Knowledge Of Income Tax Accounting Rules In The Accounting Standards Codification

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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 credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4

8 Ratings

Excellent

3

Very Good

2

Average

3

Poor

0

Terrible

0

RF

Robert Fouch, CPA (US)

Sep 21st, 2021

Great job

JP

Jennifer Pauli, CPA (US)

Dec 20th, 2021

Good information provided

accounting for deferred tax assets CPE course

PREMIUM

2 Credits

Subject Area

Accounting

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