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ASC 740: Accounting for Uncertain Tax Positions for Nonprofits, by Lorman

ASC 740: Accounting for Uncertain Tax Positions for Nonprofits is brought to you by Lorman

Gain a better understanding of reporting requirements and how to identify tax positions that can create uncertainty.

With complexities that surround tax law and the potential for significant changes in tax law, not-for-profit companies can often have a difficult time in identifying when an uncertain tax position arises and then properly measuring and recognizing any tax benefit from the uncertain tax position. This topic will help those in the not-for-profit realm receive an in-depth understanding ASC 740 to determine the proper accounting treatment of uncertain tax positions. The information also explains first how to identify an uncertain tax position and then how to properly measure, record and disclose the uncertain tax position in a not-for-profit’s financial statement.

Learning Objectives

  • You will be able to identify uncertain tax positions.
  • You will be able to recognize tax benefits for financial reporting purposes.
  • You will be able to identify the tax benefit.
  • You will be able to recognize tax benefits from uncertain tax positions.

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