Deferred income taxes can be difficult because client estimates and management assumptions are involved.
You will prepare to tackle these challenges by learning how to plan and perform test work surrounding:
- Deferred income taxes
- Tax provisions
- Valuation allowances
The audit lens
You will also apply an auditing lens to this technical knowledge to examine how this topic applies to your role as an auditor. This will involve consideration of topics including:
- Auditing accounting estimates
- Disclosure
- Documentation
Who Will Benefit
In charge and experienced audit staff with more than two to three years of audit experience
Key Topics
- FASB ASC 740
- Tax and financial accounting differences
- Measurement of deferred tax assets and liabilities
- Auditing considerations
Learning Outcomes
- Identify the objectives and scope of FASB Accounting Standards Codification (ASC) 740, Income Taxes.
- Determine key considerations regarding temporary differences between the tax basis of an asset or liability and the reported amount.
- Apply the requirements for measuring deferred tax assets and liabilities under FASB ASC 740.
- Identify the auditing considerations regarding FASB ASC 740.