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Tax | Introductory

Introduction to Accounting for Income Taxes

Dr. Barbara Porco, Ph.D., CPA
2020

Tax Introductory

Tax
Introductory

Introduce your students to the basic theory of accounting for income taxes using this lecture material and interactive class activity.

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Updated in 2023!

This new learning module focuses on Accounting for Income Taxes.

A summary of the key principles underpinning the theory of accounting for income taxes is presented with a group activity highlighting the concepts discussed. After the group activity, students are asked to calculate a deferred tax provision independently. The provision is debriefed to ensure the learning module objectives have been met with success. The target audience is upper-level accounting majors in either a corporate tax course or auditing course.

Learning objectives

Understand the causes of deferred tax assets and liabilities
Identify differences between pretax financial income and taxable income
Describe a temporary difference that results in future taxable amounts
Describe a temporary difference that results in future deductible amounts
Understand the difference between permanent and temporary differences
Comprehend the reporting requirements of tax obligations
Appreciate the audit procedures pertaining to accounting for income taxes

The module includes a PowerPoint presentation, leader’s guide, and activities to support the learning objectives.

This classroom tool was developed by Dr. Barbara Porco of Fordham University in collaboration with KPMG’s Tax Learning and Development group.

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