SFAS 109 Accounting for Income Taxes

Course Description:

There has been increased scrutiny on today’s provision calculations, tight timelines for meeting detailed reporting requirements, a large number of restatements and SEC comment letters related to income taxes, and significant changes in the regulatory environment regarding tax disclosures. Now, more than ever, it is imperative to have people who understand how to properly apply tax accounting theory to ensure accurate financial statement and management reporting.

We would like to help you with this challenging task. Atlas Service Link is proud to offer a three day course designed to walk you through today’s complex tax accounting issues while providing examples of best practice reporting and tips for meeting Section 404 documentation requirements. This course goes beyond discussing accounting theory and actually teaches you and your staff how to properly apply the theory when booking complex transactions during the preparation of the current and deferred components of the global corporate tax provision.

We will also have members from Thomson Reuters to demonstrate how innovations in tax technology can be used to increase efficiency, manage risk, and automate your tax provision process.

Our team of presenters have in-depth knowledge and practical experience in public accounting and in industry. Relevant course topics include FIN 48, Stock Based Compensation, Business Combinations, Valuation Allowances, Equity Adjustments (Other Comprehensive Income), FAS 52 Currency Translation Adjustments, State and Local Jurisdictions, Net Operating Losses, APB 28 Interim Reporting (Incl. Tax Rate Changes), Transfer Pricing, APB 23, Foreign Tax Credits and an in-depth look at Current Foreign Provision Developments and Local Country Issues.

Note: The TaxStream demonstration will take place on Day 3 and is included at no additional charge.

Course Objectives:

Upon completion of the entire course, participants will be able to:

Understand and apply the complex rules of SFAS 109

Understand and apply the provisions of FIN 48 to uncertain tax positions

Identify and properly classify deferred tax assets and deferred tax liabilities

Properly account for operating loss carryforwards and tax credit carryforwards

Properly account for valuation allowances

Understand and apply the reporting and disclosure requirements

Understand functions of TaxStream to support a company’s provision process

Registration:

Dates:

November 17-19, 2008

Location:

The three day training session will be held at the Junior League of the City of New York, located in the Astor House, 130 East 80th Street, New York, New York 10075 (212/288-6220). The website address for the Junior League of the City of New York is www.nyjl.org.

Hotels:

We suggest that you reserve hotel rooms located in Midtown. These hotels will offer the best price and are close to the training site.

CPE Credit:

Up to 19 Hours of CPE course credit available and will be supplied shortly after successful completion of the class.

Price:

1 individual - $1,195
2-4 individuals - $1,075 each
5+ individuals - $956 each

The price includes comprehensive materials along with a continental breakfast, lunch, and afternoon refreshments for each day. Payments must be received prior to or on the conference date. Payments may be made by check, Visa or MasterCard. Please make all payments payable to Atlas Service Link LLC. Credit Card or cash refunds are not granted at any time. If you are unable to attend, you may choose a substitute to attend in your place or receive a credit for another Atlas Service Link training course. All cancellations within one week of the event are subject to a $200 transfer fee.

Additional Information:

Prerequisites: Previous experience in tax and financial reporting.
Advance Preparation: None
Program Level: Intermediate
Delivery Method: Group-Live
Who Should Attend: Accounting and Tax professionals in industry and public practice who are involved in financial reporting.

Attire:

Business casual is appropriate for the training. Temperatures in the meeting rooms may vary, so remember to bring a jacket or sweater.

Contact Information:

For more information regarding refund, complaint and/or program cancellation policies, please contact the Atlas Service Link Training Coordinator, Becky Mendez, at 214-989-4007 or training@atlasservicelink.com.

Course Agenda: Back to top

Day 1

8:30 AM	-	10:45 AM	SFAS 109 Comprehensive Foundation
10:45 AM	-	11:00 AM	Break
11:00 AM	-	12:00 PM	State and Local Income Tax Provision
12:00 PM	-	1:00 PM	Lunch
1:00 PM	-	1:45 PM	APB 28 Interim Reporting
1:45 PM	-	2:30 PM	Other Comprehensive Income
2:30 PM	-	2:45 PM	Break
2:45 PM	-	3:30 PM	Valuation Allowances
3:30 PM	-	4:15 PM	Net Operating Losses
4:15 PM	-	5:00 PM	Integrated Provision Work Papers

Day 2

8:30 AM	-	9:15 AM	Stock Compensation
9:15 AM	-	10:00 AM	Uncertain Tax Positions – FIN 48
10:00 AM	-	10:15 AM	Break
10:15 AM	-	11:00 AM	Business Combinations
11:00 AM	-	12:00 PM	Transfer Pricing and FIN 48
12:00 PM	-	1:00 PM	Lunch
1:00 PM	-	1:45 PM	Currency Adjustments Including FAS 52
1:45 PM	-	2:45 PM	Foreign Income Tax Provision and Local Country Issues
2:45 PM	-	3:00 PM	Break
3:00 PM	-	3:45 PM	Foreign Income Tax Provision and Local Country Issues Continued
3:45 PM	-	5:00 PM	APB 23 and the US Foreign Tax Credit

Day 3 – Optional - TaxStream Detailed Demonstrations:

The TaxStream presentation will demonstrate how to use technology to improve controls, manage risk, increase efficiency, and automate corporate tax processes around SFAS 109.

8:30 AM	-	9:00 AM	APB 28 Interim Reporting
9:00 AM	-	9:30 AM	Uncertain Tax Positions - FIN 48
9:30 AM	-	10:00 AM	Integrated Provision Work Papers
10:00 AM	-	10:15 AM	Break
10:15 AM	-	10:45 AM	State and Local Income Tax Provision Calculations
10:45 AM	-	11:00 AM	Other Comprehensive Income
11:00 AM	-	11:15 AM	Valuation Allowances
11:15 AM	-	11:30 AM	Net Operating Losses
11:30 AM	-	12:00 PM	System Integration
12:00 PM	-	1:00 PM	Lunch
1:00 PM	-	1:30 PM	Remote Data Collection
1:30 PM	-	1:45 PM	Currency Adjustments Including FAS 52
1:45 PM	-	2:00 PM	Foreign Income Tax Provision and Local Country Issues
2:00 PM	-	2:15 PM	APB 23 and the US Foreign Tax Credit

Locations: Back to top

Date	Location	Title	Click to register
November 17-19, 2008	New York City, NY	SFAS 109 Accounting for Income Taxes	Register Now! online event registration by RegOnline