FAS109:IAS12

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The IASB has issued an Exposure Document that would replace IAS 12 that would eliminate a number of the differences between U.S. GAAP and IFRS in the accounting for income taxes. This would reconcile the distinctions between FAS 109 and IAS 12 resulting in improved accounting methods for income taxes of companies.

The Knowledge Congress is producing a two-hour webcast aiming to discuss the important aspects, as well as the impact of this joint undertaking to affected industries. Industry experts and standard setters are scheduled to speak at this event.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 083755
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for FAS109 & IAS12 live webcast:


  Event Talking Points (click here to view more)
SEGMENT 1:


Shea Malcolm, Practice Fellow, Financial Accounting Standards Board (FASB)
Anne McGeachin, Senior Project Manager, International Accounting Standards Board (IASB)

- Introduction to income tax convergence project and expected IASB timetable
- FASB’s path forward on convergence in general and income tax project in particular
- Issues on which the IASB decided to converge on the SFAS 109 requirements
- Issues on which the FASB decided to converge on the IAS 12 requirements
- Remaining differences between the proposed amended IAS 12 and SFAS 109 (i.e. share-based
  payments and uncertain tax positions etc)
- Discuss loss of interpretive literature and principles based standard vs. rules based and wealth of
  interpretive guidance

SEGMENT 2:


Charles C. (Chester) Abell, Jr., Director of Tax Accrual Services, Tax Accounting and Risk Advisory Services, Ernst & Young LLP

- The FASB/IASB convergence project and SEC focus on IFRS show that there is a clear trend toward
  a common international accounting standard
- Companies should take a close look at the tax-related effects of changes in non-income tax
  accounting policies that occur as part of the FASB/IASB convergence project
- On an on-going basis, IFRS conversion will change the face of the balance sheet and the
  determination of accounting income, which serve, in most cases, as the starting point for both
  current and deferred tax expense.
- In addition, changes in accounting policies may affect tax return accounting methods, state and
  local taxes, transfer pricing, and international tax positions.
- Tax accounting, planning, compliance and controversy may be affected by IFRS conversion
  depending on the nature of the specific change.
- IFRS conversion may require the tax function to update and change existing processes and
  controls, reconfigure and modify financial and tax systems, and to train tax resources, local
  controllers and outside service providers that support the tax function.



Financial Accounting Standards Board (FASB)
Diane C. Inzano
Practice Fellow
speaker bio »»

International Accounting Standards Board (IASB)
Anne McGeachin
Senior Project Manager
speaker bio »»

Ernst & Young LLP
Charles C. (Chester) Abell, Jr.
Director of Tax Accrual Services, Tax Accounting and Risk Advisory Services
speaker bio »»

Who Should Attend?

- CPAs
- Accountants
- Tax Managers/Executive
- Tax Attorneys
- Internal Audits
- CFO's
- Financial Planners and Executives
- Tax Consultants

Why Attend?

This is a must attend event for anyone interested in understanding the related issues and developments on FAS 109 & IAS 12.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    



FAS 109 & IAS 12
Speaker Firms and Agency:


Financial Accounting Standards Board (FASB)


International Accounting Standards Board (IASB)



 

 

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We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In New York, our programs are submitted immediately after the event live date and attendees are sent the approval codes once we receive them from the New York State Bar. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

 
Enrolled Agents Sponsor ID Number: 760

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