Understanding the accounting for income taxes under ASC 740 Income Taxes has many interesting nuances, one of which is the concept of deferred taxes! In this CPE-eligible, eLearning course (1.5 CPE), we dive into a five-step methodology that you can use when accounting for deferred taxes in accordance with ASC 740. After discussing each step, we dive into the concept of a valuation allowance, which is needed if it is more likely than not that an entity cannot utilize its deferred taxes assets. This online course concludes with a comprehensive case study so you can apply what you’ve just learned.