This 90-minute webinar covers the following topics:
- The balance sheet approach to accounting for income taxes
- The handling (from creation to write-off) of deferred tax assets and deferred tax liabilities
- Need for a valuation account in certain circumstances
- Specific examples of differences – temporary and permanent
- Special topics such as accounting for net operating losses, multiple tax rates etc.
- AMT
WHY SHOULD YOU ATTEND?
Attendees will take away valuable information such as:
- Knowledge of the balance sheet approach for accounting for income taxes.
- An historical accounting for why the profession changed from an income statement approach to the balance sheet approach.
- A complete understanding of what are deferred tax assets and deferred tax liabilities.
- A grasp of the difference between temporary differences and permanent differences.
- Circumstances that require use of a valuation account.
AREA COVERED
Topic area covered include:
- Accounting for current provision
- Accounting for deferred provision
- Temporary difference and how they “turn around” or reverse
- Permanent difference and how they are ignored for deferred tax purposes
- Net operating losses – carry backs, carry forwards
- Tax rate considerations
- Future rates/revisions of future rates
- Special issues
- Multiple temporary differences
- Multiple tax rates
- AMT
- Intra-period tax allocation
LEARNING OBJECTIVES
Attendees will learn the following:
- The historical problems associated with accounting for income taxes.
- How the balance sheet approach dramatically changed income tax accounting.
- The fundamentals surrounding the accounting for income taxes.
- Future activities and their impact on deferred tax assets and/or liabilities.
- The different handling of temporary differences and permanent differences.
- The creation of deferred tax balance sheet accounts.
- Need for a valuation account when it is more likely than not that the net deferred tax asset will not be realized in full.
- Basic provisions of SFAS 109 (ASC 740-10).
WHO WILL BENEFIT?
- Senior bank management
- Selected directors on the Board
- Controllership personnel
- Audit committee members
- Internal auditors
- External auditors
- Primary regulators
- Risk managers
- Financial statement preparers
Attendees will take away valuable information such as:
- Knowledge of the balance sheet approach for accounting for income taxes.
- An historical accounting for why the profession changed from an income statement approach to the balance sheet approach.
- A complete understanding of what are deferred tax assets and deferred tax liabilities.
- A grasp of the difference between temporary differences and permanent differences.
- Circumstances that require use of a valuation account.
Topic area covered include:
- Accounting for current provision
- Accounting for deferred provision
- Temporary difference and how they “turn around” or reverse
- Permanent difference and how they are ignored for deferred tax purposes
- Net operating losses – carry backs, carry forwards
- Tax rate considerations
- Future rates/revisions of future rates
- Special issues
- Multiple temporary differences
- Multiple tax rates
- AMT
- Intra-period tax allocation
Attendees will learn the following:
- The historical problems associated with accounting for income taxes.
- How the balance sheet approach dramatically changed income tax accounting.
- The fundamentals surrounding the accounting for income taxes.
- Future activities and their impact on deferred tax assets and/or liabilities.
- The different handling of temporary differences and permanent differences.
- The creation of deferred tax balance sheet accounts.
- Need for a valuation account when it is more likely than not that the net deferred tax asset will not be realized in full.
- Basic provisions of SFAS 109 (ASC 740-10).
- Senior bank management
- Selected directors on the Board
- Controllership personnel
- Audit committee members
- Internal auditors
- External auditors
- Primary regulators
- Risk managers
- Financial statement preparers
Speaker Profile
Paul J. Sanchez
Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a …
Upcoming Webinars
AI for Project Managers: Smarter Planning Reporting and Com…
Mastering Performance Management: Strategies for Continuous…
ChatGPT for Innovative Business Advisory Services for Accou…
Female to Female Hostility @Workplace: All you Need to Know
Latest Trends in Human Error Reduction in GMP Manufacturing
Bootcamp for New Managers and Supervisors: Develop These Es…
Analytical Method Validation Under Good Laboratory Practice…
2-Hour Virtual Seminar on The Complexity and Interplay Amon…
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
Data Integrity and Privacy - Compliance with 21 CFR Part 11…
Do's and Don'ts of Documenting Employee Behaviour, Performa…
Fostering a Culture of Respect: Eliminating Gossip, Rumour…
The Perfect Storm Coming to Healthcare: Value Based Care Me…
Payroll Record Keeping: How to Thin Out File Cabinets and Q…
Medical Device Cybersecurity Following FDA’s 2026 Premarket…
Construction Lending And Real Credit Administration: Evalua…
HIPAA Compliance in 2026 — Practical Strategies for Breach …
Moving From an Operational Manager to a Strategic Leader
Launch Your Career: The Ultimate Guide for Emerging Profess…
Dealing With Difficult People: At Work & In Life
I-9 Audits: Strengthening Your Immigration Compliance Strat…
Discover how Emotional Intelligence turns AI from a technic…
The 6 Most Common Problems in FDA Software Validation and V…
High-Impact Performance Management: Tools, Tactics & Coachi…
The 60 Minutes Introduction to DAX
Empowering Conflict Resolution: Letting Go to Gain Control
AI Across the Business: Practical Use Cases for Founders an…
Faster, Better Talent Acquisition: Leveraging AI & ChatGPT …
The Anti-Kickback Statute: Enforcement and Recent Updates
Goal Mastery: From Resolutions to Results in 2026
Your AI Advantage: How HR Professionals Can Use Claude to S…
Human Error Reduction Techniques for Floor Supervisors
Validation of FDA-Regulated Medical Device and SaMD Product…
Human Factors Usability Studies Following ISO 62366 and FDA…