Pwc's Cfodirect Podcast

Every Tuesday in May, Jennifer Spang is taking over the podcast to share the latest on income tax accounting — recent global and US tax policy developments, standard setting activity, and tax accounting considerations related to common transactions, such as business combinations and spin-offs.To continue the series, Heather and Jenn are joined by Kassie Bauman, a managing director in PwC’s National Office, to share their insights on income tax accounting for business combinations.In this episode, you’ll hear discussion of:2:01 - An overview of the applicable guidance and a summary of steps to take when assessing tax considerations of a business combination7:13 - The importance of the tax status of the entities involved and distinguishing between taxable and non-taxable transactions 20:53 - Identifying and measuring temporary tax differences related to business combinations23:36 - Deferred taxes associated with goodwill and considerations on the valuation allowance assessment34:26 - Other common tax accounting