IFRS, FIN 48 and SFAS 109 Accounting for Income Taxes

Course Description:

This class was developed for Accounting and Tax professionals in industry and public practice who are involved in tax accounting and reporting.

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.

Our team of presenters has in-depth knowledge and practical experience in public accounting and in industry. Relevant course topics include IFRS, 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.

Training materials will be provided in the form of bound instructional books and multi-media. The material is reviewed by our quality assurance team to ensure accuracy and completeness.

Course Objectives:

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

Interpret and apply the complex rules of SFAS 109 to the preparation of the global tax provision
Interpret and apply the provisions of FIN 48 to uncertain tax positions related to the global tax provision
Gain a general understanding of International Financial Reporting Standards (IFRS) accounting for income taxes
Identify and properly classify deferred tax assets and deferred tax liabilities related to the global tax provision
Properly identify and account for operating loss carryforwards and tax credit carryforwards related to the global tax provision
Properly identify and account for deferred tax assets and liabilities related to purchase accounting in the global tax provision
Properly identify and account for valuation allowances related to the global tax provision
Interpret and apply the reporting and disclosure requirements related to the global tax provision
Interpret the functions of leading tax provision software to support a company’s provision process

Prerequisites:

At least two to five years of corporate tax or financial reporting experience.

Advance Preparation:

None.

Program Level:

Intermediate.

Delivery Method:

Group Live - As the class dates approaches, the instructor bios will be made available.

Dates:

Wednesday, April 22, 2009 - Friday, April 24, 2009

Location:

The three day training session will be held at the beautiful Canyon Gate Country Club, located at 2001 Canyon Gate Drive, Las Vegas, Nevada, 89117 - (702)363-0303. The website address for the Canyon Gate Country Club is www.canyon-gate.com. Canyon Gate is just a short taxi ride from the strip.

Hotels:

There are several hotels near Canyon Gate Country Club. The Las Vegas strip is approximately 15 minutes from the Country Club. We recommend booking hotel reservations through your corporate travel site or one of many discount web sites that are available such as: travelocity.com, hotels.com, or expedia.com.

CPE Credit:

16 Hours of CPE course credits will be given for the two day class and 5.5 CPE course credits for the additional third day class for a possible total of 21.5 CPE credits that 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

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, MasterCard, American Express, Diners Club, and Discover. Please make all payments payable to Atlas Service Link, LLC.

Refund Policy:

Refunds will be made for cancellations received in writing 30 days prior to the training event and will be subject to an administrative service charge of $125 per attendee. No refunds will be made for cancellations received during the 30 day period prior to the training event. If you are unable to attend, you may choose a substitute to attend in your place subject to an administrative service charge of $125 per substitution.

Program Cancellation Policy:

If two weeks prior to the class the event minimum class sizes are not met, classes will be subject to cancellation. Atlas will immediately notify participants of the cancellation. In the event classes are cancelled, all paid registration fees will be returned in full or applied to a future class as requested.

Attire:

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

Complaint Resolution Policy:

Attendees who have a comment or complaint regarding any program offered by Atlas Service Link, LLC, are directed to the CPE Training Coordinators, at training@atlasservicelink.com or call 214-989-4000. Refunds or transfer of registration into another class are handled on a case-by-case basis.

Additional Information:

Please send an email to training@atlasservicelink.com or call 214-989-4000.

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	IFRS Overview

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 – Software Walkthrough and Discussion (Optional)

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	-	11:30 AM	Valuation Allowances and 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 Tax Provision and Local Country Issues
2:00 PM	-	2:15 PM	APB 23 and the US Foreign Tax Credit

Registration: Back to top

Date	Location	Title	Click to register
April 22-24, 2009	Las Vegas, NV	IFRS, FIN 48 and SFAS 109 Accounting for Income Taxes	Registration Closed