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FASB ASC 740: Accounting for Income Taxes




2 CPEs

About the Course

Material weaknesses related to FASB ASC 740 are a leading cause of financial restatements and management disclosures. Mistakes in this area can include:
Loss of investor confidence
Drop in shareholder value
Significant expense related to financial restatements, and
Distractions for the company

This accounting CPE event provides CCS's observations related to the material weaknesses that have been reported. The event covers the details for the issuer of financial statements as to the accounting standards that are in place.

ASC 740 governs accounting for income taxes and requires businesses to analyze and disclose income tax risks. This Financial Accounting Standards Board topic establishes standards of financial accounting and reporting for the effect of income taxes on a company's financial results.

This timely, two hour CPE training event is designed for the accounting staff to assist them in reviewing their accounting policies and procedures in the accounting for income taxes area. It is also targeted at the auditor who will be working on engagement planning, staff training objectives, audit quality and workpaper management concerning tax provisions.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Accounting
CPE Credits: 2, based on 50 minutes of instruction per hour

Details on Event Presentation

Being offered twice a quarter on Monday at 1:00 p.m. to 3:00 p.m. Central Time.

CPE Event Highlights

The Five-Steps for ASC 740
Why? Who?
What are the Major Updates?

Learning Objectives

The Goal: Refresh Knowledge of ASC Topic 740:
•Why Update ASC 740 – Income Taxes
•Review the “Terms”
•Scope of the Guidance

Key Issues on the Agenda

Section 1- Introduction to FASB ASC 740
Section 2 - Reviews Required
Section 3 - Documentation of Analysis
Section 4 - Potential Issues & Pitfalls
Section 5 - Common Questions and Summary

Your Instructor

John C. Blackshire, Jr.

CEO of The Accountware Group, Inc. (TAG) of Austin, TX. He has over 40 years of business management, internal control, software development and auditing experience. TAG helps companies improve their business processes, implement financial systems, and comply with the requirements of the Sarbanes-Oxley Act.

John C. Blackshire, Jr.
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