This course discusses the objectives and scope of FASB ASC 740, Income Taxes, (formerly SFAS 109), as well as issues concerning permanent differences, temporary differences, and the basic principles of FASB ASC 740. The process of accounting for income taxes is also covered, including the basic steps of the process and the measurement of deferred tax liabilities and assets. In the last chapter, you will be presented with a case study that illustrates the concepts presented in the previous chapters.