Strengthen your ASC 740 expertise with practical updates and tax insights.
This course provides a practical overview of the core principles and latest developments in ASC 740 to help accounting, finance, and tax professionals strengthen their income tax accounting knowledge and processes. The topic will cover recent updates, including accounting considerations for modifications in the OBBBA and disclosure changes under ASU 2023-09. Attendees will gain clarity on calculating current and deferred income taxes, identifying permanent and temporary differences, and evaluating uncertain tax positions and related disclosures. In addition, the course will explore how to assess valuation allowances using the more-likely-than-not framework. The topic concludes with practical tax internal control best practices and a recap with live Q&A.
Learning Objectives
- You will be able to identify the purpose of ASC 740 in governing accounting for income taxes.
- You will be able to distinguish between current and deferred income taxes.
- You will be able to differentiate between permanent and temporary book-tax differences.
- You will be able to recognize how deferred tax assets and liabilities are calculated and reported.
What Is ASC 740?
ASC 740 is the set of standards responsible for accounting for income taxes and determining a company’s effective tax rate. A thorough understanding of ASC 740 requirements is essential for any accountant working in an organization adhering to Generally Accepted Accounting Principles.
One key part of ASC 740 compliance is determining whether or not an organization has uncertain tax positions — such as any interpretation of earnings that is less than what the IRS is likely to assess independently or uncover during an audit. This involves a comprehensive process of identification and measurement, both for the current fiscal year and for any years prior.
ASC 740 Training
Determining the taxable income of a business or nonprofit is never simple. For example, if a business is historically profitable and is expected to return to profitability soon, it can sustain a period of operating at a loss without its value being affected. Failing to properly consider these factors has the potential to put an organization into an uncertain tax position.
This program contains a basic overview of several topics relevant to the identification of uncertain tax positions. Students will learn:
- ASC 740 basics — What is it, how it works and who is responsible for adhering to it
- Income tax computation — How does ASC 740 require that current and deferred incomes taxes be calculated?
- Valuation allowances — What evidence must be weighed to determine an accurate valuation?
- Accounting for uncertainty — How likely is it that a tax position will be sustained on examination?
Lorman Education Services' ASC 740 training course has been developed based on the input of several recognized experts in the field of corporate tax strategy.
We are pleased to offer continuing education offerings for accounting professionals on a variety of topics. We keep all courses up-to-date with current laws, and we tailor them to the learning needs of busy working professionals. Browse our offerings today to get started!
Add to Wishlist
More Program Information
Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Principles of Asc 740
- Balance Sheet Approach
- Jurisdiction by Jurisdiction
- Types of Taxes
Asc 740 Updates:
- Accounting for Modifications in Obbba
- Accounting Standards Update (Asu) 2023-09
Current and Deferred Income Tax
- Calculation Objectives
- Permanent and Temporary Differences
Uncertain Tax Positions
- Identifying and Analysis of Uncertain Tax Positions
- Preparation of Uncertain Tax Position Disclosures
Valuation Allowances
- More Likely Than Not' Considerations
- Four Sources of Taxable Income
Tax Internal Control Best Practices
Recap and Qanda
Add to Wishlist
More Program Information
Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 9, 2026.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
Enrolled Agents 2.0
- In accordance with the standards set forth in Circular 230 section 10.6, CE credits have been granted based on a 50-minute hour. This program qualifies for 2.0 Continuing Education Credit(s) for enrolled agents.
CPE/NASBA - QAS Self Study 2.6 including Accounting 2.6
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
More Program Information
Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Dan DeLau
TaxOps
- More than 35 years of experience with diverse international and domestic accounting and tax transactions within a U.S. corporate environment working for international accounting firms
- Associate Professor of Accounting, School of Business and Leadership, Colorado Christian University
- Former tax director of multiple public and private companies, each with extensive and complex operations throughout the U.S. and internationally
- Former U.S. tax director for a Fortune 100 company based in Lausanne, Switzerland
- Former EY partner and co-founding partner of TaxOps
- Can be contacted at [email protected]
Lindsay Haskell
TaxOps
- Partner, Corporate Tax
- Specializing in corporate, income tax provision, and compliance for global brands
- Executes cross-functional compliance and planning integration across tax disciplines for a holistic understanding of a business’ tax position, including corporate, income tax provision, international, federal, state, and local tax compliance
- Private industry and public accounting experience
- Former EY
- Can be contacted at [email protected] or 720-227-0426
Add to Wishlist
More Program Information
Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
