Bloomberg BNA | CITE Offers Primer on Basic Tax Accounting Principles and Concepts Under ASC 740

ARLINGTON, Va., July 5, 2012 /PRNewswire-USNewswire/ -- To help accountants, attorneys, enrolled agents, and other tax practitioners better understand basic tax accounting rules and more accurately compile tax provision data, Bloomberg BNA | CITE will host Tax Accounting (ASC 740) Primer: Debits, Credits and Worksheets, a live conference focusing on basic tax accounting principles and concepts.


Tax Accounting (ASC 740) Primer: Debits, Credits and Worksheets will be presented twice this summer: July 9-10 at the Renaissance St. Louis Grand Hotel in St. Louis, MO and July 23-24 at The Allerton Hotel in Chicago, IL.

"Establishing a solid, basic understanding of the new Accounting Standards Codification for income taxes (ASC 740) allows attendees to familiarize themselves with debit and credit entries required in accounting for current and deferred tax items," said Diane Pastore, Executive Director at Bloomberg BNA | CITE. "As a result, they can learn to establish internal controls within their organizations that satisfy the documentation requirements of the Sarbanes-Oxley Act of 2002."

Attendees will learn how the tax accounting rules under ASC 740 apply, how to record tax adjustments and make journal entries, and how to properly submit accounting entries for Schedule M-3. New tax legislation and tax rate changes will also be addressed.

Sessions will address taxable differences, deferred tax assets and liabilities, net operating losses, and valuation allowance. There are no course prerequisites, but a basic knowledge of the U.S. tax rules is recommended.

By attending this two-day conference, attendees will:

  • Understand the basic T accounts and journal entries for recording current and deferred tax adjustments
  • Obtain a better understanding of how the basic accounting rules apply in making tax adjustments for deferred tax assets (DTA) and deferred tax liabilities (DTL)
  • Understand the scope of the application of the ASC 740 rules to state and foreign income taxes
  • Learn to identify and record permanent and temporary tax adjustments
  • Discover how, when, and why valuation adjustments are made to tax accounts

To register, go to or call (914) 328.5656 for further information on special rates.

About Bloomberg BNA 

Bloomberg BNA, a wholly-owned subsidiary of Bloomberg, is a leading source of legal, regulatory, and business information for professionals. Its network of more than 2,500 reporters, correspondents, and leading practitioners delivers expert analysis, news, practice tools, and guidance - the information that matters most to professionals. Bloomberg BNA's authoritative coverage spans the full range of legal practice areas, including tax & accounting, labor & employment, intellectual property, banking & securities, employee benefits, health care, privacy & data security, human resources, and environment, health & safety.

SOURCE Bloomberg BNA


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