GAAP and Financial Reporting for Selected Income Tax Issues #314726

Course Description

Course publication/revision date: 1/19/2026

The objective of this course is to address various tax issues related to GAAP including changes made by the One Big Beautiful Bill Act (OBBBA) of 2025.

Topics include an analysis of adjustments required to be made to deferred income tax assets and liabilities, including those assets related to net operating losses, accounting for the change from an S to a C corporation, GAAP accounting for bonus and Section 179 depreciation, changes made by OBBBA to the formula for the interest deduction limitation, presenting the tax benefit of an NOL carryover, GAAP for the research and experimental cost, accounting for the PTE tax and ERC, new income tax disclosures, and more.