| LO 17-1 | Explain the objectives behind FASB ASC Topic 740, Income Taxes, and the income tax provision process.
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| LO 17-2 | Calculate the current and deferred income tax expense or
benefit components of a company's income tax provision.
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| LO 17-3 | Recall what a valuation allowance represents and describe
the process by which it is determined.
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| LO 17-4 | Explain how a company accounts for its uncertain income
tax positions under FASB ASC Topic 740.
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| LO 17-5 | Recognize 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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