Capital Accounts: 704(b) vs. GAAP vs. Tax Basis, Comparing and Contrasting Annual Allocati... Meeting Tax-Basis Capital Reporting Requirements October 1, 2024 • CPE, EA • CPE On-Demand This program is included with the Strafford CPE Pass. Click for more information. This program is...
Capital Accounts: 704(b) vs. GAAP vs. Tax Basis, Comparing and Contrasting Annual Allocati... Meeting Tax-Basis Capital Reporting Requirements October 1, 2024 • CPE, EA • CPE On-Demand This program is included with the Strafford CPE Pass. Click for more information. This program is...
Capital Accounts: 704(b) vs. GAAP vs. Tax Basis, Comparing and Contrasting Annual Allocati... Meeting Tax-Basis Capital Reporting Requirements October 1, 2024 • CPE, EA • CPE On-Demand This program is included with the Strafford CPE Pass. Click for more information. This program is...
Say a company follows the accrual basis for financial reporting,recognizing revenue when it's earned, even if the cash payment hasn't been received. But for tax purposes, revenue is recognized when the payment is received. This creates a temporary difference—a discrepancy between when an item ...
Effectively, the GloBE rules account for UTP on a cash basis. Accordingly, the GloBE ETR may be lower to the extent of accrued UTP and may be higher to the extent of paid UTP. Consequently, an MNE's GloBE ETR may fall below 15% in a period UTP is accrued, potentially causing top...
Correct and precise data is the basis of an income tax. To track the cash flow, ecommerce business owners need to collect payment information in their books. The biggest challenge here is to reconcile this data with statements from your checking bank account. This is when online accounting too...
Alternatively, they can be compiled independently by an accounting professional on the basis of accounting records provided by the company. An independent accounting professional is someone who has no personal financial interest in the company, nor is an employee of the company. They would have no ...
Capitalizing interest requires more complex accounting procedures compared to expensing interest immediately. Companies must track interest costs during the construction or production period, determine the amount eligible for capitalization, and correctly allocate these costs to the asset's bas...
所得税费用(income tax expense):遵循US GAAP,计算出企业本期营业利润对应的应发生所得税金额,无论该所得税是否在本年缴纳。 由于税法对于应税收入的确认与GAAP/IFRS对于营业利润的确认方法和时点存在差异,因此income tax payable和income tax expense也存在着各种差异。
Companies have the discretion to utilize either straight-line depreciation or accelerated depreciation for GAAP reporting purposes. Suppose a company decides to use straight-line depreciation but the depreciation method used for tax purposes is on an accelerated basis. In that case, the depreciation exp...