This session will focus on the income tax accounting (ASC 740) and financial statement impacts of the Tax Cuts and Jobs Act of 2017. In addition to a refresher on the overall framework, the session will focus on areas of particular concern for corporations during the 2018 and 2019 reporting periods. The session will also briefly touch on tax considerations of ASC 606 (revenue recognition) and ASC 842 (lease accounting).
Attendees should leave with a better understanding and awareness of:
1) The ongoing financial statement implications of tax reform
2) Potential pitfalls and problems areas relevant to 2018 and 2019 financial statements
3) The income tax accounting implications of ASC 606 and ASC 842