U.S. Accounting (ASC 740) for Income Taxes - Houston

Houston, TX

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Year-End Tax Pass

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A two-day technical update with live group instruction on the latest U.S. principles in accounting for income and taxes of U.S. multinationals under ASC #740.


Attend this seminar and:

• Discover where to find the pertinent tax accounting provisions under the Accounting Standards Codification (ASC 740) of the FASB (FAS 109) rules.
• Refresh your skills in computing current and deferred tax in assembling the annual tax provision.
• Understand consolidating foreign operations and application of 740-30-05 (APB #23) for deferral of U.S. taxes on foreign income.
• Examine the IRS’ tax reporting requirements for M-3 adjustments, FIN 48 and Uncertain Tax Positions.
• Determine the latest strategies for managing your company’s tax accounting function effectively and accounting for the effects of new legislation.
• Learn how the latest U.S. foreign tax changes will affect earnings in 2016.
• Find out how the multistate tax provision is computed, including Uncertain Tax Positions.

All paid attendees will receive the Bloomberg BNA Portfolio:

 Accounting for Income Taxes: Fundamental Principles and Special Topics (Portfolio 5001)
*One portfolio per paid attendee. Quantities are limited.



All tax professionals have a need to know and understand the ASC 740 Accounting for Income Tax rules and concepts.  Whether you work directly with the tax accounting calculations or have a need to comprehend the overall issues, you will find this two day course very useful.  Bloomberg BNA has assembled an agenda that comprises several timely topics in the ASC 740 area, such as how transfer pricing methodologies are impacted by Uncertain Tax Positions, the tax accounting for business combinations, the consolidation of foreign operations and the financial statement impact of executive compensation strategies.  Anyone working in the ASC 740 area will find the discussion led by our highly qualified faculty very interesting and informative.



This two-day technical update is for tax and accounting directors, managers and controllers, including tax supervisors and accountants and attorneys looking to refresh their knowledge of the U.S. tax accounting rules. No prerequisite is required, although attendance at our ASC 740 Primer or similar course is recommended. This program is transitional which is appropriate for newly admitted attorneys.





8:00 am Registration and Continental Breakfast

8:30 am Welcome and Introduction

8:45 am Current Issues in Managing the Corporate Tax Accounting Function
• The importance of effective tax rate forecasting
• Current developments involving Interim Reporting standards
• Addressing ongoing accounting issues – FIN 48 issues
• Auditor concerns - Financial Statement presentation issues

10:15 am Break for Refreshments

10:30 am Interrelationship of ASC-740 (FIN 48) and Transfer Pricing
• Overview of ASC 740-10 requirements as they apply to transfer pricing
• Identifying Uncertain Tax Positions (UTP) and defining Units of Account related to transfer pricing issues
• More-Likely-Than-Not standard and recognition of UTPs related to transfer pricing
• Practical approach to measurement of positions related to transfer pricing, including cumulative probability calculations
• Trends in audits of companies’ ASC 740 analyses of transfer pricing-related UTPs


12:00 pm Luncheon

1:00 pm Overview of Purchase Accounting - Treatment of Goodwill and Other Intangibles (ASC 350-10/20)
• Tax accounting treatment of goodwill and other intangibles – testing for impairment in computing the income tax provision
• Understanding how taxable v. tax-free acquisitions and business combinations affect goodwill and EPS
• Consequences of making a basis step-up election under Sec. 338 – interrelationship with purchase accounting
• Treatment of acquisition costs under Sec. 263

2:45 pm Break for Refreshments

3:00 pm Overview of Executive Compensation
• Reporting stock options issued to employees
• Accounting for stock-based compensation under ASC 718 (SFAS 123R) and transactions involving stock compensation
• Income tax accounting for "plain vanilla" stock options - understanding the book v. tax rules
• Current use of stock options in business combinations and other special situations

4:30 pm Meeting Adjourns for the Day 




8:15 am Continental Breakfast

8:45 am Consolidation and Accounting for Foreign Operations and Taxes
• Special U.S. GAAP accounting issues in consolidating the results of global subsidiaries – consolidation v. equity method
• Reviewing foreign current v. deferred taxes on foreign income - application of 740-30-05 (APB #23) to defer U.S. tax on foreign earnings
• Reporting the results of branches, partnerships or check-the-box entities - inside v. outside basis differences
• Translation of Foreign Currency statements under ASC 830 (FAS 52)
• Computing the U.S. tax on foreign income – treatment of foreign withholding taxes – reduction in FTC baskets

10:15 am Break for Refreshments

10:30 am Reducing the U.S. Tax Rate on Domestic Production Activities
• Projecting rate benefits from domestic production activities – computing the Sec. 199 deduction
• Determining income attributable to production activities and QPAI amounts eligible for the deduction
• Avoiding the taxable income and W-2 wage limitations
• Preparing work paper support for the Sec. 199 deduction – complying with footnote disclosure – IRS audit update

12:15 pm Luncheon


1:15 pm Accounting for State and Local Taxes
• Developing acceptable State Tax apportionment details
• Establishing the blended State Tax rate
• Identifying and accruing uncertain State Tax positions
• Characterization as Income or Non-Income Taxes

2:30 pm Meeting Ends


December 5 & 6, 2016

The Houstonian
111 North Post Oak Lane
Houston, TX 77024
(713) 680-2626



If you are unable to attend this event, you may: transfer your registration to another person from your company for the same event; or transfer your registration to a substitute event listed on our web site. In either instance, there will be no charge or penalty for substitution. To request a transfer, contact with the new attendee or substitute event information more than 5 business days prior to the conference start date. On the first day of the event, absent attendees will be considered “no shows” and will not be eligible for a refund, transfer, or substitute event. 

Cancellations must be made in writing to more than 5 business days before the event and will be assessed a $350 conference setup fee. Cancellations will not be accepted if notice is received fewer than 5 business days before the event. For more information regarding administrative policies, complaints and cancellations, please contact us at 800.372.1033, or e-mail



Bloomberg BNA offers a hardship policy for CPAs and other tax and accounting professionals who wish to attend our live conference and seminars. Individuals must earn less than $50,000 annually in order to qualify. For individuals who are unemployed or earning less than $35,000 per year, a full discount off the price of registration for the program will be awarded. Individuals earning between $35,000 and $50,000 per year will receive a 50% discount off the price of the program. If an individual wishes to submit a case for hardship, he or she must contact Bloomberg BNA directly at

Please include the following information with your request: complete contact information, program for which a hardship reduction is being requested, requested amount for hardship reduction, and reason for applying for hardship. Please note that requests will not be considered until 30 days from the program date and that individuals may only apply for a hardship reduction once within a 12-month period. Bloomberg BNA reserves the right to make a final determination on a case-by-case basis. Our decision for granting a hardship is final and submission does not constitute acceptance.



Continental breakfasts, lunches, refreshment breaks, Bloomberg BNA Portfolio, and course materials in electronic format.