Wiley GAAP 2021, 2nd Edition

46ASC 740 INCOME TAXES

1. Perspective and Issues
   1. Technical Alert
      1. Guidance
   2. Subtopics
   3. Scope and Scope Exceptions
   4. Overview
      1. Accounting Theory—A Balance Sheet Approach
2. Definitions of Terms
3. Concepts, Rules, and Examples
   1. Recognition
      1. Basic Recognition Threshold
   2. Temporary Differences
      1. Major Categories of Temporary Differences
      2. Other Sources of Temporary Differences
   3. Other Common Temporary Differences
   4. Permanent Differences
      1. Treatment of Net Operating Loss Carryforwards
      2. Example—Net Operating Loss Carryforwards and Income Tax Credit Carryforwards
      3. Cerwtain Income Tax Benefits Allocable to Stockholders’ Equity
      4. Interest and Penalties
   5. Initial Measurement
      1. Scheduling the Reversal Years of Temporary Differences
      2. Example of the Two‐Step Initial Recognition and Measurement Process
      3. Determining the Appropriate Income Tax Rate
      4. Computing Deferred Income Taxes
      5. Example—Computation of Deferred Income Tax Liability and Asset: Basic Example
      6. Applicability to Business Combinations
      7. Establishing a Valuation Allowance for Deferred Income Tax Assets
      8. Example—Establishment of a Valuation Allowance
      9. Example of Applying the More‐Likely‐Than‐Not Criterion to a Deferred Income Tax Asset
      10. Example—Impact of a Qualifying Tax Strategy
      11. Changes in a Valuation Allowance for an Acquired Entity’s Deferred Income Tax Asset
   6. Subsequent Recognition of New Information Affecting Measurement of Tax Positions
   7. Tax Law Changes
      1. General Rules
      2. Enactment Occurring During an Interim Period
      3. Leveraged Leases
   8. Reporting the Effect of ...