This course examines the Statutory income tax guidance in SSAP 101, including the deferred tax asset admissibility test, and identifies the required note disclosures.

Upon successful completion of this self-study, you will be able to:

• Identify reasons for the evolution of statutory tax guidance
• Identify the key elements of current income taxes
• Recognize the components of statutory deferred tax accounting and reporting guidance
• Identify the steps involved in calculating admitted deferred tax assets
• Recognize other deferred tax reporting issues
• Identify the underlying foundation for statutory income tax disclosures

Course Content:

• Evolution of statutory tax guidance
• Current income taxes
  • Current tax recoverables
  • State taxes
  • Tax loss contingencies
• Deferred tax concepts
  • Valuation allowance adjustment
• Deferred tax admissibility test
  • Explanations and illustrations
  • Impact of threshold limitation tables
• Other reporting issues
  • Tax planning strategies
  • Intercompany income tax transactions
  • Intraperiod tax allocations
  • Interim periods
• Statutory income tax disclosures
  • Descriptions of required disclosures