Secondly, income tax accounting can enable a company to maintain financial flexibility. There are different effects of funding the company’s operations with debt and/or equity, and a company’s capital structure can influence its tax liability. Knowing these effects will allow the company to plan...
In order to properly account for income taxes, it is important to understand that the Internal Revenue Service code that governs accounting for tax liability isn't the same as the generally accepted accounting principles (GAAP) for reporting tax liability on the financial statements. Income Tax: R...
deferred tax accounting 【经】 递延税金会计 statement of accounting for variance in net income 【经】 净收益变动计算表 相似单词 accounting n. 1.会计;会计学;会计制度 2.会计业务或能力 3.账单;借贷对照表 4.记账;结账;结算;决算 5.人各有所好。 microaccounting 微观会计 macroaccounting 【经】...
原IAS的原文规定如下:The deferred tax liability or asset that arises from the revaluation of a non-depreciable asset in accordance with IAS 16.31 shall be measured on the basis of the tax consequences that would follow from recovery of the carrying amount of that asset through sales, regardless ...
Interperiod Income Tax Allocation Example A: the following information is available for the year ended 12/31/x1: Accounting income = $10,400 Taxable income = $ 9,000 (AI > TI) Tax Rate = 30% The difference of $1,400 is resulting from using ACRS for I/T filing while using S-L for...
Accounting for income taxes involves both intraperiod and interperiod tax allocation. 所得税会计包含期内所得税分摊(intraperiod)与跨期所得税分摊(interperiod) 1.1 Intraperiod Tax Allocation 所得税会计中将同一期间的所得税费用(而不是该期间应付所得税)分摊于该于期间的损益及其他综合收益构成项目的程序(IDA...
Accounting income = revenues under GAAP – expenses under GAAPLet us study the different components of a business’s tax accounting one by one.The differences between accounting income and taxable income are classified into two categories:Permanent differences, differences which arise when an income ...
EnvironmentandTheoreticalStructureofFinancialAccounting 5 PermanentDifferenceversusTemporaryDifference(contd.)TemporaryDifference:Adifferencebetweenataxableincomeandafinancialincomeinanaccountingperiodthatwillbereversedinlateraccountingperiods.Thisdifferencerequiresanintertperiodtaxallocation.CausesofTemporaryDifference:Different...
Measurements of taxable income must reflect changes in the value of assets and liabilities. If deductions are taken too quickly or if the recognition of income is unduly postponed, the present value of tax liability is reduced. Tax shelters are based on the creation of artificial accounting losses...
Simplify your income tax accounting with BDO. Our tax services can help organizations navigate complex tax regulations and minimize risks. Learn more.