ASC 740 requires extensive disclosures for income tax provision. Learn the disclosure rules for balance sheets, income statements, and uncertain tax positions.

Learn how controlled foreign corporation income is taxed in the U.S., including how to account for CFC taxable income in the ASC 740 provision calculation.

ASC 740 includes rules for recognizing and measuring uncertain tax positions in a company’s balance sheet and tax provision reporting and disclosures.

Browse examples of required ASC 740 income tax provision disclosures, including rate reconciliation, deferred tax assets and liabilities, and footnotes.

How to evaluate positive and negative evidence to determine if a valuation allowance is needed for deferred tax assets that won’t be recognized.

This example demonstrates the key concepts for determining a valuation allowance for a deferred tax asset, and how to account for it in a journal entry.

Learn how foreign-source income and related foreign tax credits affect ASC 740 income tax provision calculations.

How to differentiate between an uncertain tax position analysis and a valuation allowance analysis for a deferred tax asset.

Corporations are required to make annual disclosures regarding uncertain tax positions. Public entities are required to make additional interim disclosures.

Understand the two steps for reporting uncertain tax positions, including how to apply the more-likely-than-not standard to the recognition test.