Site MapHelpFeedbackFASB ASC Topic 740: Income Taxes
FASB ASC Topic 740: Income Taxes

Upon completing this chapter, you should be able to:

LO 17-1Explain the objectives behind FASB ASC Topic 740, Income Taxes, and the income tax provision process.

LO 17-2Calculate the current and deferred income tax expense or benefit components of a company's income tax provision.

LO 17-3Recall what a valuation allowance represents and describe the process by which it is determined.

LO 17-4Explain how a company accounts for its uncertain income tax positions under FASB ASC Topic 740.

LO 17-5Recognize the different components of a company's disclosure of its income tax accounts in the financial statements and footnotes and comprehend how a company computes and discloses the components of its "effective tax rate."

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