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, 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

Interactive dashboards & analytics in Excel

Copilot and HR: An Introduction for HR Professionals

4-Hour Virtual Seminar on Bootcamp on Excel

Leading Across Generations: 5 Challenges & 10 Strategies to…


I-9 Audits: Strengthening Your Immigration Compliance Strat…

Fair Lending in 2025: New Regulations, Examinations and Enf…


Tattoos, hijabs, piercings, and pink hair: The challenges …

Using Emotional Intelligence to Elevate Your Leadership

ChatGPT & HR: How HR Recruiting Professionals Can Leverage …

FDA Trends in Compliance and Enforcement in Computer System…

Elevate Your Workplace Wellness: 10 Critical Wellness Facto…

How to Manage the Legal Landmine of the FMLA, ADA and Worke…

How to Write a Successful Job Hazard Analysis


How to Write Right for Better Business Communication

How to Prepare For and Host a FDA Inspection and Respond to…

Public Speaking: Overcoming The Fear of Public Speaking

From Good to Great: The Secrets to an Optimized LinkedIn Pr…



Workplace Investigations 101: How to Conduct your Investiga…

Policy Pops: Navigating DEI in the 2025 Workplace: Strategi…

The Five Cs Of Commercial Credit: The Basic Elements Of Cre…

Transforming Anger And Conflict Into Collaborative Problem …


Navigating Alcohol and Drug Addiction Protections Under the…


Reduce Stress in the Workplace: Effective Ways to Handle Co…



Transforming HR with AI: Unlocking Excellence and Innovation

Creating Employee Handbooks that Protect You and Support th…

FDA Technology Modernization Action Plan (TMAP) and Impact …


Transform Data into Insights: A Beginners Guide to Excel Pi…


Mindful Communication:The Key to Meaningful Conversations i…

FDA Proposes Framework to Advance Credibility of AI Models

50+ new Excel features so far this decade

FMLA Compliance in 2025: A Comprehensive Guide & Strategies…

Excel - 10 Key Worksheet Functions to Skyrocket Your Produc…

Managing Toxic Employees: Strategies For Leaders To Effecti…

Hiring and Retaining Employees in this Crazy Economy

Harassment, Bullying, Gossip, Confrontational and Disruptiv…