A two-day entry level course with live group instruction on basic tax accounting principles and concepts for accountants, attorneys, enrolled agents and other tax practitioners.

 Course Level: basic; Delivery Method: live group

Learning Objectives

• Understand the basic T accounts and journal entries for recording current and deferred tax adjustments
• Obtain a better understanding of how the basic accounting rules apply in making tax adjustments for deferred tax assets (DTA) and
  deferred tax liabilities (DTL)
• Understand the scope of the application of the ASC #740 rules to state and foreign income taxes
• Learn how to identify and record permanent and temporary tax adjustments
• Discover how, when and why valuation adjustments are made to tax accounts
• Workshop sessions include 4 in-class exercises (and answers)!

All paid attendees receive a calculator

Prerequisites

There are no prerequisites for attending this program.

SUBSTITUTIONS, CANCELLATIONS & COMPLAINTS

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 customercare@bna.com 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 customercare@bna.com 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, such as complaints and cancellations, please contact us at 800.372.1033, or e-mail customercare@bna.com.

Washington D.C. - Bloomberg BNA

1801 S. Bell St

Arlington, VA 22202

Tel: 800.372.1033

Day One
 

8:00 am Registration and Continental Breakfast
 

8:30 am Understanding the FAS 109 Tax Accounting Rules

• Fundamentals and basic principles of FAS#109
   
• Templates for recording tax adjustments
   
• Journal Entries – making debit/credit entries
   
• Using T Accounts for recording tax adjustments
   
• Application to foreign and state income taxes
   

10:15 am Break for Refreshments
 

10:30 am Identifying Taxable Differences

• Permanent Differences
   
• Temporary Differences
   
• Recognizing future tax consequences in financial statements
   

12:15 pm LUNCHEON
 

1:30 pm Accounting for Deferred Tax Assets and Liabilities

• Accounting for Deferred Tax Liabilities
   
• Accounting for Deferred Tax Assets
   
• Financial Statement Disclosure

3:00 pm Break for Refreshments
 

3:15 pm Discussion of Day 1 Topics - Test #1

• Comprehensive Application – Exercise #1
   

5:00 pm Meeting Adjourns for the Day
 

Day Two
 

8:00 am Continental Breakfast
 

8:30 am Treatment of New Tax Legislation and Tax Rate Changes

• Tax rate changes and affect of new tax legislation
   
• Comprehensive Application – Exercise #2
   

10:15 am Break for Refreshments
 

10:30 am Treatment of Net Operating Losses

• NOLs and Deferred Tax Benefits
   
• Comprehensive Application – Exercise #3
   

12:15 pm LUNCHEON
 

1:15 pm Understanding the Valuation Allowance

• Establishing Valuation Allowances
• Comprehensive Application – Exercise #4

3:00 pm Meeting Ends

EDUCATIONAL COURSE CREDIT

Up To 14 CPE Credit hours available

Bloomberg BNA is registered with the National Association of the State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses. Complaints regarding registered sponsors may be addressed to NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.

Up to 14 CLE Credit hours available

Bloomberg BNA will apply for continuing legal education credits in any state or jurisdiction where available. For more information, please contact Bloomberg BNA customer service at 800.372.1033 and ask to speak to the CLE Accreditations Coordinator, or email us at accreditations@bna.com .

Hardship Policy

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 accreditations@bna.com. 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.