ASC 740 Part 1: Practical Application for Accounting for Income Taxes
Lynn Fountain Overview:
All tax professionals that want a basic understanding of ASC 740/FAS 109 concepts and the tools to prepare basic tax provisions will benefit from this course. These concepts include understanding entities impacted by ASC 740 and defining a "tax based on income" examining discounting and reviewing concepts of changes in accounting estimates and errors along with temporary and permanent differences.
Why you should Attend:
Changing Tax Legislation
Areas Covered in the Session:
- Identify how to book temporary vs permanent differences
- Discover how to apply the concept of deferred tax assets and deferred tax liabilities to scenarios
- Identify and applying uncertainty for income tax
- Recognize outlining concepts that are embedded in tax based on income
- Discover how to apply recognition and measurement issues to examples
Who Will Benefit:
- Business Owners and Operational Professionals
- Accountants and Finance Professionals and Internal Auditors
- Tax and Legal Professionals
Speaker Profile
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.