Accounting for Temporary Differences in Taxable Income

Accounting for Temporary Differences in Taxable Income, available at $49.99, has an average rating of 4.2, with 11 lectures, 2 quizzes, based on 13 reviews, and has 108 subscribers.

You will learn about Identify what a temporary difference is and recognize how it is computed. Identify what a deferred tax liability is and recognize how to compute the tax accrual for a temporary negative difference. Identify what a deferred tax asset is and recognize how to compute the tax accrual for a temporary positive difference. Recognize the proper financial statement presentation of temporary differences. Discover what is recorded in the Valuation Allowance Account and when it is used. Discover the proper financial statement presentation of temporary differences in the Tax Accrual footnote. Identify what an uncertain tax position is and recognize its effect on the tax accrual. This course is ideal for individuals who are Anyone interested in finance, accounting or related fields. It is particularly useful for Anyone interested in finance, accounting or related fields.

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Summary

Title: Accounting for Temporary Differences in Taxable Income

Price: $49.99

Average Rating: 4.2

Number of Lectures: 11

Number of Quizzes: 2

Number of Published Lectures: 11

Number of Published Quizzes: 2

Number of Curriculum Items: 13

Number of Published Curriculum Objects: 13

Original Price: $39.99

Quality Status: approved

Status: Live

What You Will Learn

Identify what a temporary difference is and recognize how it is computed.
Identify what a deferred tax liability is and recognize how to compute the tax accrual for a temporary negative difference.
Identify what a deferred tax asset is and recognize how to compute the tax accrual for a temporary positive difference.
Recognize the proper financial statement presentation of temporary differences.
Discover what is recorded in the Valuation Allowance Account and when it is used.
Discover the proper financial statement presentation of temporary differences in the Tax Accrual footnote.
Identify what an uncertain tax position is and recognize its effect on the tax accrual.

Who Should Attend

Anyone interested in finance, accounting or related fields.

Target Audiences

Anyone interested in finance, accounting or related fields.

Although a majority of income and deduction items encountered by a business enterprise are treated identically for financial reporting and tax purposes, there are numerous items that are treated differently. They are known as book-tax differencesand are classified as either temporary or permanent.

This course covers temporary differences, including:

how to identify and account for temporary differences
- income/expense book-tax difference relating to financial income that will be recognized in the future is known as a deductible temporary difference creating a deferred tax asset.
- income/expense book-tax difference relating to taxable income that will be recognized in the future is known as a taxable temporary difference creating a deferred tax liability.
- What to do when these items reverse in a future period.

the balance sheet presentation of deferred tax assets and deferred tax liabilities arising from these transactions

how to prepare the journal entry to record the income tax expense (also called the income tax provision) including the deferred tax benefit/liability due to book-tax differences.

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction to Accounting for Temporary Differences

Lecture 2: Book Tax Difference

Lecture 3: Temporary Timing Differences

Lecture 4: Deferred Tax Liability

Lecture 5: Deferred Tax Asset

Lecture 6: Valuation Allowance

Lecture 7: Tax Disclosures in the Financial Statements

Lecture 8: Uncertain Tax Position

Lecture 9: Comprehensive Example

Chapter 2: Supporting Materials

Lecture 1: Slides: Accounting for Temporary Differences

Lecture 2: Accounting for Temporary Differences Glossary/Index

Chapter 3: Review and Test

Instructors

Illumeo Learning
Condensed and Efficient Courses for Busy Professionals
Cherie Hennig (Illumeo)

Rating Distribution

1 stars: 1 votes
2 stars: 0 votes
3 stars: 1 votes
4 stars: 6 votes
5 stars: 5 votes

Frequently Asked Questions

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You can view and review the lecture materials indefinitely, like an on-demand channel.

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