Sample: Required ASC 740 Income Tax Provision Disclosures

This sample includes a comprehensive illustration of the required disclosures under ASC 740 for a public enterprise, as well as a sample financial statement note for public business entities. Preparers are cautioned to not simply adopt this example as a standing template, as specific facts and circumstances can vary the exact form of disclosure.

Always, careful attention must be paid to the exact disclosure rules under ASC 740 and their interplay with the facts and circumstances applicable to a specific company.

This sample offers comprehensive disclosure examples required for public enterprise, including:

• ASC 740 provision for income taxes
• Rate reconciliation
• Deferred tax assets and liabilities