ASC 740 Perspectives for Year End: Accounting for Income Tax - New York

New York, NY

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Year-End Tax Pass

Fulfill all of your remaining CPE/CLE credits with entry to an unlimited number of upcoming Bloomberg BNA tax seminars and webinars in 2016 for less than the price of two seminars.

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A two-day advanced technical update with live group instruction on key tax accounting issues facing tax practitioners in preparing global corporate tax provision under ASC 740.

Benefits of Attending:
• Understand effective tax rate forecasting and interim reporting
• List financial disclosure issues involving derivatives and financial products
• Discuss tax accounting issues affecting intangibles, including goodwill, and impact on the income tax provision
• And more!

All paid attendees will receive the Bloomberg BNA Portfolio: #5000-4th Accounting for Income Taxes-FASB ASC740 (a $400 value)  *One Portfolio per paid attendee.Quantities are limited.

This intermediate level course is designed for the corporate VP-Tax or accounting, as well as directors, managers and their staff, including controllers and financial executives responsible for assembling the tax provision and financial statement preparation. This two-day course is designed to upgrade your skills under ASC 740 and also will benefit financial analysts and investment bankers involved in evaluating financial statements.


Prerequisites: completion of our Tax Accounting Primer course, or familiarity with the basic ASC 740 rules and an understanding of valuation allowances is necessary. This program is nontransitional which is appropriate for experienced attorneys.



8:00 am  Registration and Continental Breakfast

8:45 am  Welcome and Overview    

9:00 am  Hot Issues in U.S. Accounting for Income Taxes
• Managing your tax positions-certain and uncertain
• Effective tax rate forecasting and interim reporting
• Accounting for Uncertain Tax Positions-review of applicable rules and recent developments
• Identifying Your Effective Tax Rate Drivers
• Reconciling the statutory and effective tax rate for U.S. multinationals

10:30 am Refreshment Break

10:45 am  Accounting for International Operations-Part I
• Inside/outside basis issues in consolidating affiliated group results - treatment of variable interest or check-the-box entities
• Maintaining U.S. GAAP records for foreign subsidiaries, branches and partnerships – consolidation v. equity method
• Translation of foreign currency statements under ASC 830 (FAS 52) – description of other comprehensive income (OCI)
• Treatment of permanently reinvested CFC earnings - application of ASC 740-30-05 (APB 23)
• Comparison with the IFRS accounting rules
12:15 pm LUNCHEON

1:00 pm  Organizational and Transactional Tax Accounting Issues Facing U.S. Multinational Companies
• Common Effective Tax Rate Drivers
• Valuation Allowances and Losses without Benefit
• ASC740 -30-05 (APB 23) Considerations when criteria are not met
• ASC740-10 (FIN48): Considerations for MNCs

2:15 pm    Refreshment Break

2:30 pm  Tax and Disclosure of  Derivatives and Hedging Activities
• Accounting for hedges and derivative products – update on ASC 815 (FAS 133)
• Comparison of ASC 815 to tax rules related to hedging and derivatives
• Common M-1 adjustments related to hedging and derivative activities
• Financial disclosure issues involving derivatives and financial products - comparison with the IFRS accounting guidelines

4:00 pm  Special Tax Accounting Issues in Reporting the Results of Mergers, Acquisitions and Dispositions - ASC 805 and ASC 350
• Tax accounting issues affecting intangibles, including goodwill, and impact on the income tax provision
• Consequences of making a basis step-up election under Sec. 338 – interrelationship with purchase accounting
• Counter-intuitive effective tax rate impact  on accounting statements
• Understanding IFRS convergence issues

5:30 pm  Meeting Adjourns for the Day


8:00 am  Continental Breakfast

8:45 am The Growing Role of Valuation in Financial Statements
• Fair Value Measurement
• Business Combinations
• Goodwill and Other Intangibles
• Hedging
• Impairment
• Debt/Equity Determinations

10:15 am Refreshment Break

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 in 2013 and 2014
• Determining income attributable to production activities and QPAI amounts eligible for the deduction
• Avoiding the taxable income and W-2 wage limitations
• Preparing workpaper support for the Sec. 199 deduction – complying with footnote disclosure – IRS audit update
12:15 pm LUNCHEON
1:15 pm  Compensation Issues
• Review of deduction provisions affecting stock options and other incentive pay in merger and acquisitions
• Latest developments in compensation tax issues
• Special issues involving mergers and acquisitions
• Funding non-qualified deferred compensation plans
• Interrelationship with accounting rules under IFRS

3:15 pm  Conference Ends


November 30 - December 1, 2016

AMA Conference Center
1601 Broadway (at 48th and Broadway)
8th Floor
New York, NY 10019

Hotel accommodations are at your own discretion. We suggest the following:

Belvedere Hotel
319 West 48th Street
New York, NY 10036
Tel: (212) 245-7000

Novotel of New York
226 West 52nd Street
New York, NY 10019
Tel: (212)-315-0100



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.