Part 2: Understand the More Common Book/Tax Differences that Impact Basic Tax Provisions (Currently Unavailable)

Author: Shamen Dugger

This course develops a deeper understanding of the more common book/tax differences found in a basic tax provision (i.e., share based compensation, capitalization & cost recovery, accruals, allowances, & reserves, and revenue recognition).

Emphasis is placed on understanding deferred accounting and the inter-relationships between the taxable income schedule and deferred inventory. A specific example is used throughout the course to better understand tax provision and effective tax rate impacts both with and without valuation allowance.

Publication Date: June 2014

Designed For
New Hires in Public Accounting and Industry, Experienced Hires Outside of Core Tax Compliance, Accounting and Finance Students (College and Masters Level) and Taxation Students (JD and LLM Levels).

Topics Covered

• Deferred Accounting
• Current Tax Expense/Benefit
• Deferred Tax Expense/Benefit

Learning Objectives

• Recognize how common book/tax differences impact the tax provision
• Define deferred accounting
• Recognize the inter-relationships between the taxable income schedule and deferred inventory
• Define the Share Based Compensation Book/Tax Differences
• Recognize Capitalization & Cost Recovery Book/Tax Differences
• Recognize Accruals, Allowances, & Reserves Book/Tax Differences
• Determine Revenue Recognition Book/Tax Differences

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (3 hours)

Program Prerequisites
None

Advance Preparation
None