Sales and Use Tax Reserves: Financial Accounting Standards Under ASC 450 and IAS 37
Establishing and Maintaining Accruals, Provisions, and Disclosures of Contingent Liabilities
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax professionals with a review of current best practices for establishing, documenting, and maintaining reserves for uncertain sales and use tax positions of multinational companies using the most current interpretations of financial reporting under US General Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS).
Outline
- Identifying tax uncertainties and initial decisions about a sales and use tax reserve
- The role of ASC 450 and IAS 37 in establishing and measuring a sales tax reserve
- Anticipating events that may impair assets or increase liabilities
- Audit detection considerations in recognizing a loss contingency
- ASC 450 and IAS 37 comparison
- Planning opportunities to mitigate sales and use tax loss contingencies
Benefits
The panel will review these and other key issues:
- Reserve-related red flags in audit disclosures and financial statements
- Financial accounting standards under ASC 450 and IAS 37
- Audit detection considerations in recognizing a loss contingency
Faculty

Eric Fader
Tax Managing Director
BDO USA
Mr. Fader is a managing director in BDO’s State & Local Tax services practice with more than 25 years of... | Read More
Mr. Fader is a managing director in BDO’s State & Local Tax services practice with more than 25 years of experience that includes sales/use tax consulting, planning, and advocacy engagements.
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Andrew Moore
National Assurance Senior Manager
BDO USA
Mr. Moore's primary focus is IFRS related work including reviewing IFRS financial statements and reporting packages... | Read More
Mr. Moore's primary focus is IFRS related work including reviewing IFRS financial statements and reporting packages and completing consulting engagements, including IFRS conversions projects.
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