| Published | 2020-12-16 |
| Platform | Udemy |
| Rating | 5.00 |
| Number of Reviews | 1 |
| Number of Students | 5 |
| Price | $24.99 |
| Instructors |
Cherie Hennig (Illumeo)
Illumeo Learning
|
| Subjects |
This course covers unusual and nonrecurring disclosure requirements for Income (Loss) and expense/deduction items.
This course covers unusual and nonrecurring disclosure requirements for Income (Loss) and expense/deduction items reported on the financial statements that must also be disclosed on Schedule M-3.
Most of these topics relate either to industry specific book-tax differences or to items that are not usually encountered in the annual accounting cycle. Nevertheless, when these items occur, they must be separately and adequately disclosed on Schedule M-3 as either “temporary” or ‘permanent” differences. It is important to “get the numbers right” when completing Parts II and III of Schedule M-3.
This course covers the unusual and nonrecurring items that must be disclosed on Schedule M-3 including:
Unusual income items that result in book-tax differences.
Unusual expense/deduction items that result in book tax differences.
Note: Schedule M-3, Part II and III disclosures of frequently occurring book-tax differences was covered in prior intermediate courses.
A comprehensive example of Schedule M-3, parts II and III for corporations with unusual/nonrecurring income, expense/deduction items is provided to reinforce your knowledge of the compliance/reporting issues regarding Schedule M-3 compliance.