This session, from TEI’s 2025 Federal Tax Course – Level 1, provides a comprehensive introduction to ASC 740, the financial statement reporting requirements enforced by the Financial Accounting Standards Board (FASB). Participants will explore the scope, objectives, and reporting guidelines of ASC 740. The session includes an in-depth look at financial statement deliverables, provides an understanding of the differences between book and tax accounting, addresses the methods for calculating deferred and total taxes, and explains how to handle uncertain tax positions.
Learning Outcomes
- Understand the scope and objectives of ASC 740
- Learn to read balance sheets, identify the differences between GAAP financial statements and income tax reporting, and compute and report deferred taxes and total taxes
- Gain the skills to address uncertain tax positions
Who Should Attend
This course is designed for tax professionals who are new to the in-house community, taking on new areas of responsibility, changing areas of practice, or just need a refresher on the core principles in US federal taxation.
Instructor(s)
Jeremy Stewart, Senior Tax Associate, Grant Thornton Advisors
Ted Thomas, Principal, Tax Services, Grant Thornton Advisors
General Session Information
Access
Online, upon completion of the checkout process, you will be directed to our Learning Management System (LMS) for access to the session.
For member pricing, please login to tei.org
This is a digital product. With full paid access, the content will be available for one year after the purchase date.
CPE Credits
This digital product is not eligible for Continuing Professional Education (CPE) credit and includes the recording from the 2025 in-person session and the corresponding PowerPoint slides.
Length of Session
The session will take approximately 3.5 hours to complete.
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
For more information, please refer to CPE requirements and NASBA sponsorship information.
Terms & Conditions
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