Financial Reporting of Taxes Update


Chris Anderson, Facebook


  • Patrice Mano, Deloitte Tax LLP
  • Jennifer Spang, PricewaterhouseCoopers LLP

Session Description:

In this session, panelists will explore a variety of hot topics in accounting for income taxes, including key issues in interim accounting; the impact of COVID-19 on valuation allowances and other areas of accounting for income taxes (such as, indefinite reinvestment assertions and estimated annual effective tax rate computations); amendments in Accounting Standards Update ASU 2019-12 on Simplifying the Accounting for Income Taxes; and emerging tax accounting issues that may materialize during the course of the year.

Learning Objectives:

At the conclusion of this course, participants should be able to: (1) Identify financial reporting considerations in the current economic environment; (2) Understand and account for COVID-19 impacts on valuation allowances; (3) Understand and account for COVID-19 impacts on other areas of accounting for income taxes; (4) Understand amendments in Accounting Standards Update, ASU 2019-12, and how they modify past practice; and (5) Identify and understand emerging issues that may arise during 2021.

Location: Date: March 24, 2021 Time: 11:30 am - 12:45 pm