A two-day intermediate level, technical update course with live instruction on selected hot tax accounting and corporate governance issues facing tax practitioners in preparing the global corporate tax provision under FAS #109

Benefits of Attending

• Learn how U.S. multinationals present their global financial statements and disclose relevant tax provision information in the SarbOx era
• Understand the role of the Tax Department in establishing internal controls to comply with Section 404 certification criteria
• Learn how foreign exchange transaction gains (losses), hedges and derivatives affect U.S. financial statements
• Find out how to apply APB #23 to defer the U.S. tax cost on repatriating foreign earnings and other issues in consolidating the results of foreign operations
• Determine whether an income tax position satisfies the more-likely-than-not standard in accounting for uncertainties under FIN 48
• Ascertain how the new FAS # 123 rules for stock options, restricted stock plans and other share-based payments affect your company
• Recognize how the choice of foreign entity - corporation or branch - and transfer pricing methodology can affect your consolidated income statement
• Discover how new FAS # 141(R) and 142 affect goodwill acquired in mergers and acquisitions and what happens on impairment of goodwill
• Learn how to satisfy the SOX requirements for reporting domestic production activities and claiming a Sec. 199 deduction

Educational Course Credit — Up to 16 CPE / CLE Credits Available

Substitutions/Cancellations

Cancellations received more than 72 business hours prior to the meeting will be issued a credit. A $350 fee will apply to cancellations received within 72 business hours of the event. No credit card or cash refunds will be issued at any time. For more information regarding administrative policies, such as complaints and refunds, please contact us at 1-914-328-5656, or e-mail info@citeusa.org. Credits will not be issued for "no shows"

8:00 am Registration and Continental Breakfast

8:45 am CITE Welcome and Overview

9:00 am Managing the Corporate Tax Accounting Function

• Effective tax rate forecasting and interim reporting - recent experiences with SOX reporting and disclosure rules
   
• Recognition of current and deferred tax items - treatment of deferred tax assets (liabilities) - adjusting foreign books to U.S. GAAP
   
• Reconciling the statutory and effective tax rate for U.S. multinationals - preparing the tax footnote
   
• Analysis of how the Obama tax legislation affects U.S. multinationals in 2010
  

10:30 am Refreshment Break

10:45 am Intangible Transfers: Tax Efficient Methods, Cost Sharing and ETR Management

• Identification of the profit driving intangible assets used in your business
   
• Strategic alternatives for tax efficient management of your intangible assets including licensing, sale, migration and partnership
   
• Comparing the current and proposed cost sharing regulations
   
• Managing the effective tax rate impact of intangible asset transfers
  

12:15 pm LUNCHEON

1:30 pm Legal Perspective on the Sarbanes-Oxley Legislation

• What corporate tax practitioners need to know about the Sarbanes-Oxley Act of 2002
   
• Ascertaining whether a tax position satisfies the more-likely-than-not standard
   
• Determining the amount of benefit or cost, including interest, to be recognized for financial reporting purposes
   
• Disclosure and attorney-client privilege
   
• Update on recent SEC and Financial Accounting Standards Board (FASB) pronouncements and responses to inquiries

2:45 pm Refreshment Break

3:00 pm Consolidating the Results of Global Operations

• Inside/outside basis issues in consolidating affiliated group results - treatment of variable interest entities
   
• Maintaining U.S. GAAP records for foreign subsidiaries, branches and partnerships – consolidation v. equity method
   
• Translation of foreign currency statements under FAS # 52
   
• Treatment of permanently reinvested CFC earnings - application of APB # 23
   
• How to report the results of check-the-box entities
  

4:00 pm Strategies for Reducing the U.S. Tax Cost on Foreign Income

• Reviewing the foreign tax provision on foreign operations – current v. deferred – treatment of foreign withholding taxes
   
• Latest techniques in repatriating earnings from foreign affiliates
   
• Computing the U.S. tax on foreign income – use of Sec. 863(b), management fees and other tax ideas to maximize the foreign tax credit limitation
   
• Evaluating the effect of expense apportionment on the U.S. tax provision
  

5:15 pm Meeting Adjourns for the Day

Day Two

8:00 am Continental Breakfast

9:00 am Compensation Issues

• Reporting stock options, incentive pay and other share-based payments under revised FASB Statement No. 123
   
• Latest developments in accounting for stock options and restricted stock
   
• Accounting for contributions to rabbi trusts, ESOPs and other qualified plans
   
• Special issues involving mergers and acquisitions under FAS 141 (R) – satisfying the requirements of Sec. 162(m)
   
• Funding non-qualified deferred compensation plans
  

10:30 am Refreshment Break

10:45 am Special Tax Accounting Issues in Reporting the Results of Mergers, Acquisitions and Dispositions

• Tax accounting issues affecting intangibles, including goodwill, and impact on the income tax provision
   
• Consequences of making a basis step-up election under Sec. 338 – interrelationship with purchase accounting
   
• Counter-intuitive effective tax rate impact of new FAS 141 and FAS 142 on accounting statements
   
• Understanding FASB Statements No. 141 (R) and No. 160 and IFRS convergence
  

12:15 pm LUNCHEON

1:15 pm FAS #109 and Special Corporate Tax Accounting Issues – Permanent or Temporary Differences

• Expense v. capitalization – treatment of acquisition costs
   
• Treatment of transaction costs - Section 195 v. Section 263 – analysis of latest IRS regulations under Sec. 263
   
• Recent Indopco developments – capitalization of operating expenses and software development
  

2:15 pm Refreshment Break

2:30 pm Accounting for Derivatives and Financial Products

• Accounting for hedges and derivative products – update on FAS 133
   
• Comparison of FAS 133 to tax rules related to hedging and derivatives
   
• Common M-1 adjustments related to hedging and derivative activities
   
• Understanding the new rules under FAS #161 for disclosure of derivative and hedging activities
  

4:30 pm Conference Ends

CITE Conference Registration - Page 1

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1. Complete this form and fax Page 2 to 914-328-5757
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