For many accountants, accounting for income taxes remains one of the most difficult subjects within the profession. Although the rules governing income tax accounting have been around for some time, their complexity still causes accountants to struggle with it. Here, Dr. Hughlene Burton, Associate Professor of Accounting at the University of North Carolina at Charlotte, reviews the fundamental requirements involved in accounting for income taxes, the corresponding disclosures, and the latest developments related to this challenging topic. . Try this course
According to the BLS, accountants need a bachelor's degree in accounting or related field, or an MBA with a concentration in accounting. Any accountants filing information with the Securities and Exchange Commission (SEC) are required to become a Certified Public Accountant (CPA). Numerous other certifications are available to accountants depending on their field of interest, including the Certified Management Accountant (CMA), the Certified Internal Auditor (CIA), and the Certified Information Systems Auditor (CISA). CPAs can also obtain the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications to increase their marketability.