U.S. ACCOUNTING (ASC 740) FOR INCOME TAXES >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> January 27 & 28, 2014 • Santa Monica • Le Marigot Hotel A two-day technical update with live group instruction on the latest U.S. principles in accounting for income and taxes of U.S. multinationals under ASC #740 Benefits of attending: • Learn where to find the pertinent tax accounting provisions under the Accounting Standards Codification (ASC 740) of the FASB (FAS 109) rules • Refresh your skills in computing current and deferred tax in assembling the annual tax provision • Consolidating foreign operations and application of 740-30-05 (APB #23) for deferral of U.S. taxes on foreign income • Understand the IRS’ tax reporting requirements for M-3 adjustments, FIN 48 and Uncertain Tax Positions • Determine the latest strategies for managing your company’s tax accounting function effectively and accounting for the effects of new legislation • Learn how the latest U.S. foreign tax changes will affect earnings in 2014 • Find out how the multistate tax provision is computed, including Uncertain Tax Positions All paid attendees will receive the Bloomberg BNA Portfolio Accounting for Income Taxes-FASB ASC740 #5000-4th *One portfolio per paid attendee. Quantities are limited. ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: This unique course is only offered by Bloomberg BNA For more information, call 800.372.1033 or visit www.bna.com/taxevents ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Earn Up to 15 CPE/CLE Credits U.S. Accounting (ASC 740) for Income Taxes January 27 & 28, 2014 • Santa Monica • Le Marigot Hotel www.bna.com/taxevents >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> DAY ONE 8:00 AM Registration and Continental Breakfast 8:30 AM Accounting Overview 8:45 AM Current Issues In Managing the Corporate Tax Accounting Function • The importance of effective tax rate forecasting • Current developments involving interim reporting standards • Addressing ongoing accounting issues – FIN 48 issues • Auditor concerns – financial statement presentation issues Bill Amon, WTAS LLC, Los Angeles 10:15 AM Break for Refreshments 10:30 AM Overview of Purchase Accounting – Treatment of Goodwill and Other Intangibles (ASC 350-10/20) • Tax accounting treatment of goodwill and other intangibles – testing for impairment in computing the income tax provision • Understanding how taxable v. tax-free acquisitions and business combinations affect goodwill and EPS • Consequences of making a basis step-up election under Sec. 338 – interrelationship with purchase accounting • Treatment of acquisition costs under Sec. 243 William McAlpine, PricewaterhouseCoopers LLP, Chicago 12:15 PM Luncheon 1:30 PM Consolidation and Accounting for Foreign Operations and Taxes • Special U.S. GAAP accounting issues in consolidating the results of global subsidiaries – consolidation v. equity method • Reviewing foreign current v. deferred taxes on foreign income - application of 740-30-05 (APB #23) to defer U.S. tax on foreign earnings • Reporting the results of branches, partnerships or check-the-box entities - inside v. outside basis differences • Translation of foreign currency statements under ASC 830 (FAS 52) • Computing the U.S. tax on foreign income – treatment of foreign withholding taxes – reduction in FTC baskets Kyle Bibb, KBibb LLC, Fort Worth 3:15 PM Break for Refreshments 3:30 PM Comparison of U.S. GAAP and IFRS Tax Accounting Standards • Understanding material differences between International Accounting Standards (IAS) #12 and ASC 740 • Status of the latest EU Accounting Directives • Implementation of IFRS Regulations – IASB convergence issues • Practical issues in adopting/preparation of IFRS statements Amy Gossman, Ernst & Young LLP, San Francisco John Gunn, Ernst & Young LLP, San Francisco 5:00 PM Conference Adjourns for the Day Times/topics/speakers subject to change © Bloomberg BNA 2014. All rights reserved SPONSORSHIP OPPORTUNITIES ARE AVAILABLE ::::::::::::::::::::::::::::::::: For more information, call 800.372.1033 or visit www.bna.com/taxevents ::::::::::::::::::::::::::::::::: DAY TWO 8:00 AM Continental Breakfast 9:00 AM Accounting for State and Local Taxes • Developing acceptable state tax apportionment details • Establishing the blended state tax rate • Identifying and accruing uncertain state tax positions • Characterization as income or non-income taxes James Besio, Ernst & Young LLP, San Jose 10:15 AM Break for Refreshments 10:30 AM Reducing the U.S. Tax Rate on Domestic Production Activities • Projecting rate benefits from domestic production activities – computing the Sec. 199 deduction in 2014 • Determining income attributable to production activities and QPAI amounts eligible for the deduction • Avoiding the taxable income and W-2 wage limitations • Preparing workpaper support for the Sec. 199 deduction – complying with footnote disclosure – IRS audit update Conrad Kreutzer, KPMG LLP, San Diego Connie Cheng, KPMG LLP, Washington, DC 12:15 PM Luncheon 1:15 PM Interrelationship of ASC-740 (FIN 48) and Transfer Pricing • Overview of ASC 740-10 requirements as they apply to transfer pricing • Identifying Uncertain Tax Positions (UTP) and defining Units of Account related to transfer pricing issues • More-Likely-Than-Not standard and recognition of UTPs related to transfer pricing • Practical approach to measurement of positions related to transfer pricing, including cumulative probability calculations • Trends in audits of companies’ ASC 740 analyses of transfer pricing-related UTPs Mark Madrian, Duff & Phelps, Los Angeles 2:30 PM Break for Refreshments 2:45 PM Overview of Executive Compensation • Reporting stock options issued to employees • Accounting for stock-based compensation under ASC 718 (SFAS 123R) and transactions involving stock compensation • Income tax accounting for “plain vanilla” stock options – understanding the book v. tax rules • Current use of stock options in business combinations and other special situations Dennis Minich, WTAS LLC, Chicago 4:00 PM Conference Ends EARN UP TO 15 CPE/CLE CREDITS Bloomberg BNA is registered with the National Association of the State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses. Complaints regarding registered sponsors may be addressed to NASBA, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Bloomberg BNA will apply for continuing legal education credits in any state or jurisdiction where available. For more information, please contact Bloomberg BNA customer service at 800.372.1033 and ask to speak to the CLE Accreditations Coordinator, or email us at [email protected]. Five Easy Ways to Register: E-Mail: [email protected] Telephone: 800.372.1033 Web: www.bna.com/taxevents Facsimile: 800.253.0332 Mail: Bloomberg BNA’s Customer Contact Center 3 Bethesda Metro Center, Suite 250 Bethesda, MD 20814-5377 USA >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> UPDATE YOUR KNOWLEDGE OF THE U.S. TAX ACCOUNTING RULES IN 2014! HARDSHIP POLICY With the implementation of the new Accounting Standards Codification (ASC), the GAAP rules have been renamed and renumbered. Tax practitioners must learn the new terminology under ASC 740 and apply it to the former financial statements produced under FAS 109. In addition, tax professionals must consider the impact of new tax legislation in 2014 and how they affect their tax provision. Bloomberg BNA announces an updated and improved course on U.S. Accounting (ASC 740) for Income Taxes with an updated schedule of topics for computing the tax provision at your company in 2014. Learn the latest ASC terminology corresponding to the FAS rules you relied on in prior years in order to compute the tax provision at your company. Find out the latest tax accounting strategies from our experienced faculty members, who can answer your toughest questions involving foreign tax consolidation, compensation, purchase accounting and goodwill, domestic production (Sec. 199) and IFRS update. Bloomberg BNA offers a hardship policy for CPAs and other tax and accounting professionals who wish to attend our live conference and seminars. Individuals must earn less than $50,000 annually in order to qualify. For individuals who are unemployed or earning less than $35,000 per year, a full discount off the price of registration for the program will be awarded. Individuals earning between $35,000 and $50,000 per year will receive a 50% discount off the price of the program. If an individual wishes to submit a case for hardship, he or she must contact Bloomberg BNA directly at [email protected]. Please include the following information with your request: complete contact information, program for which a hardship reduction is being requested, requested amount for hardship reduction, and reason for applying for hardship. Please note that requests will not be considered until 30 days from the program date and that individuals may only apply for a hardship reduction once within a 12-month period. Bloomberg BNA reserves the right to make a final determination on a case-by-case basis. Our decision for granting a hardship is final and submission does not constitute acceptance. WHO SHOULD ATTEND CANCELLATION POLICY WHY YOU SHOULD ATTEND This two-day technical update is for tax and accounting directors, managers and controllers, including tax supervisors and accountants and attorneys looking to refresh their knowledge of the U.S. tax accounting rules. No prerequisite is required, although attendance at our ASC 740 Primer or similar course is recommended. This program is transitional which is appropriate for newly admitted attorneys. CONFERENCE LOCATION Le Marigot Hotel 1740 Ocean Ave., Los Angeles, CA 90401 Limited time and number of reduced rate rooms: $269.00 per night Our block of discounted sleeping rooms is limited, so please reserve your sleeping room early! We cannot guarantee rates or availability. Please contact the hotel and mention that you are attending the course listed under Bloomberg BNA. This limited-time discounted rate will be available up to 30 days prior to the meeting, or until the group block is sold-out, whichever comes first. Please note: your sleeping room is not included in the registration fee. If you are unable to attend this event, you may: transfer your registration to another person from your company for the same event; or transfer your registration to a substitute event listed on our web site. In either instance, there will be no charge or penalty for substitution. To request a transfer, contact [email protected] with the new attendee or substitute event information more than 5 business days prior to the conference start date. On the first day of the event, absent attendees will be considered “no shows” and will not be eligible for a refund, transfer, or substitute event. Cancellations must be made in writing to [email protected] more than 5 business days before the event and will be assessed a $350 conference setup fee. Cancellations will not be accepted if notice is received fewer than 5 business days before the event. For more information regarding administrative policies, complaints and cancellations, please contact us at 800.372.1033, or e-mail [email protected]. Fee Includes Continental breakfasts, lunches, refreshment breaks, Bloomberg BNA Portfolio, and course materials in electronic format. Contact Bloomberg BNA about discounts for three or more registrants from the same company ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: REGISTER EARLY & SAVE! Name Title U.S. Accounting (ASC 740) for Income Taxes $1,295 Early Registration (up to 1 month prior to course) $1,495 Registration (within 1 month of course) Method of Payment: Payment is due on or prior to the course. All credit cards converted to and billed in U.S. dollars (USD). Check enclosed payable to Bloomberg BNA Credit card payment: MasterCard Visa AmEx Discover All credit cards will be processed at current U.S. conversion rates Organization Address City State Zip Card No. TelephoneFax V-code Card exp. /Billing Zip E-mail Signature Card Expiration Date U.S. ACCOUNTING (ASC 740) FOR INCOME TAXES >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> January 27 & 28, 2014 • Santa Monica • Le Marigot Hotel UPDATE yOUR KNOWLEDGE OF THE U.S. TAX ACCOUNTING RULES IN 2014! ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: This unique course is only offered by Bloomberg BNA For more information, call 800.372.1033 or visit www.bna.com/taxevents ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: Bloomberg BNA’s Customer Contact Center 3 Bethesda Metro Center, Suite 250 Bethesda, MD 20814-5377
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