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    Accounting and Taxes under Trump's New Tax Plan

    Monday, March 12, 2018 - 2:00 PM - 3:30 PM ET
    $249.00
    *
    In light of recent legislation changing the Internal Revenue Code, many bankers and bank accountants are realizing they are not quite "up to speed" on the new accounting for income taxes, particularly the handling of deferred tax assets and deferred tax liabilities.

    Overview

    In light of Trump's Tax Plan and recent legislation changing the Internal Revenue Code, many bankers and bank accountants are realizing they are not quite "up to speed" on the new accounting for income taxes, particularly the handling of deferred tax assets and deferred tax liabilities. 

    This webinar will specifically address issues related to FASB Statement No. 109 (ASC 740.10), which deals with current and deferred income taxes. We will focus on unusual one-time entries (i.e. large unexpected gains and/or losses, such as tax effects of repatriation dollars) that must be made as a result of the new tax law changes. We will reestablish the accounting for income tax rules and discuss their importance going forward in 2018 and beyond. 

    Covered Topics

    • Issues Related to Current and Deferred Income Tax Assets and Tax Liabilities
    • New Tax Law Changes Made By the Trump Administration
    • Review the Accounting for Income Tax Rules
    • Discover How to Handle Unusual One-Time Entries
    • In-Depth Review of FASB Statement No. 109 (ASC 740.10)

    Who Should Attend?

    This timely program will provide relief for all employees struggling with accounting for income taxes. It is especially useful for those closing the books and preparing financial statements for 12/31/17. 

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    Overview

    In light of Trump's Tax Plan and recent legislation changing the Internal Revenue Code, many bankers and bank accountants are realizing they are not quite "up to speed" on the new accounting for income taxes, particularly the handling of deferred tax assets and deferred tax liabilities. 

    This webinar will specifically address issues related to FASB Statement No. 109 (ASC 740.10), which deals with current and deferred income taxes. We will focus on unusual one-time entries (i.e. large unexpected gains and/or losses, such as tax effects of repatriation dollars) that must be made as a result of the new tax law changes. We will reestablish the accounting for income tax rules and discuss their importance going forward in 2018 and beyond. 

    Covered Topics

    • Issues Related to Current and Deferred Income Tax Assets and Tax Liabilities
    • New Tax Law Changes Made By the Trump Administration
    • Review the Accounting for Income Tax Rules
    • Discover How to Handle Unusual One-Time Entries
    • In-Depth Review of FASB Statement No. 109 (ASC 740.10)

    Who Should Attend?

    This timely program will provide relief for all employees struggling with accounting for income taxes. It is especially useful for those closing the books and preparing financial statements for 12/31/17. 

    Presenter:

    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 money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, “Accounting Basics for Community Financial Institutions” (Financial Managers Society, 2 nd edition, Chicago, 2009) and the “Ideas an Analysis Letter: The Sanchez Take” (see www.sanchez-psa.com). As a contributing author, his chapter on ‘An Auditor’s Approach to Risk-Based Auditing: What to Audit and When,’ is included in the textbook, “Effective Auditing for Corporates: Key Developments in Practice and Procedures,” (Bloomsbury Information, Ltd, London, 2012).