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In this course we discuss the efforts of the Financial Accounting Standards Board (FASB) and the International Accounting Board (IASB) to work together to converge U.S. accounting standards and International Financial Reporting Standards (IFRSs) specifically as it relates to income tax accounting.

We also discuss in detail the current technical agendas of the FASB and IASB for income tax accounting as well as the Securities and Exchange Commission's potential rulemaking that may include an optimal and mandatory conversion to IFRSs for U.S. public companies.

Learning Objectives

  • Identify elements of the tax convergence process that have been and will be utilized
  • Identify the convergence tax items which still need to be reconciled
  • Recognize the income tax convergence due process for completion

 

5 Reviews (15 ratings)Reviews

4
Member's Profile
Very relevant update of current status of tax accounting issues. However, instructor's presentation was somewhat labored and did not present much information beyond what was shown in the slides.
4
Member's Profile
Good history and overview of the changes to present and the discussion of future plans. Slides were a little too lengthy and dry, but overall served as good summary for the material.
4
Anonymous Author
Good course on income tax and convergence of GAAP and IFRS.
Anonymous Author
A bit complicated for me.
4
Member's Profile
Good

Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to corporate accounting

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Corp. Income Tax Accounting Convergence Project
  5:05Collaboration
  6:48Convergence Results
  5:55Elephants in the Room
  8:38Standards Setting: ASC or IAS in the Pipeline?
  7:04The SEC
CONCLUSION
  9:41Final Thoughts
Continuous Play
  49:10Income Tax Accounting - Income Tax Convergence Project and Technical Agenda - FASB and IASB
SUPPORTING MATERIALS
  PDFSlides: FAS 109 and IAS 12
  PDFFAS 109 and IAS 12 Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM