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Reading 30 Income Taxes (Layout)
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This reading provides a primer on the basics of income tax accounting and reporting.
The reading is organized as follows:
Section 2 describes the differences between taxable income and accounting profit.
Section 3 explains the determination of tax base, which relates to the valuation of assets and liabilities for tax purposes.
Section 4 discusses several types of timing differences between the recognition of taxable and accounting profit.
Section 5 examines unused tax losses and tax credits.
Section 6 describes the recognition and measurement of current and deferred tax.
Section 7 discusses the disclosure and presentation of income tax information on companies' financial statements and illustrates its practical implications for financial analysis.
Section 8 provides an overview of the similarities and differences for income-tax reporting between IFRS and US GAAP.
The reading is organized as follows:
Section 2 describes the differences between taxable income and accounting profit.
Section 3 explains the determination of tax base, which relates to the valuation of assets and liabilities for tax purposes.
Section 4 discusses several types of timing differences between the recognition of taxable and accounting profit.
Section 5 examines unused tax losses and tax credits.
Section 6 describes the recognition and measurement of current and deferred tax.
Section 7 discusses the disclosure and presentation of income tax information on companies' financial statements and illustrates its practical implications for financial analysis.
Section 8 provides an overview of the similarities and differences for income-tax reporting between IFRS and US GAAP.
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Reading 30 Income Taxes Introduction
statement prepared for financial reporting purposes. Deferred tax liabilities represent tax expense that has appeared on the income statement for financial reporting purposes, but has not yet become payable under tax regulations. <span>This reading provides a primer on the basics of income tax accounting and reporting. The reading is organized as follows. Section 2 describes the differences between taxable income and accounting profit. Section 3 explains the determination of tax base, which relates to the valuation of assets and liabilities for tax purposes. Section 4 discusses several types of timing differences between the recognition of taxable and accounting profit. Section 5 examines unused tax losses and tax credits. Section 6 describes the recognition and measurement of current and deferred tax. Section 7 discusses the disclosure and presentation of income tax information on companies' financial statements and illustrates its practical implications for financial analysis. Section 8 provides an overview of the similarities and differences for income-tax reporting between IFRS and US GAAP. A summary of the key points and practice problems in the CFA Institute multiple-choice format conclude the reading. <span><body><html>
Reading 30 Income Taxes Introduction
statement prepared for financial reporting purposes. Deferred tax liabilities represent tax expense that has appeared on the income statement for financial reporting purposes, but has not yet become payable under tax regulations. <span>This reading provides a primer on the basics of income tax accounting and reporting. The reading is organized as follows. Section 2 describes the differences between taxable income and accounting profit. Section 3 explains the determination of tax base, which relates to the valuation of assets and liabilities for tax purposes. Section 4 discusses several types of timing differences between the recognition of taxable and accounting profit. Section 5 examines unused tax losses and tax credits. Section 6 describes the recognition and measurement of current and deferred tax. Section 7 discusses the disclosure and presentation of income tax information on companies' financial statements and illustrates its practical implications for financial analysis. Section 8 provides an overview of the similarities and differences for income-tax reporting between IFRS and US GAAP. A summary of the key points and practice problems in the CFA Institute multiple-choice format conclude the reading. <span><body><html>
Summary
| status | not read | reprioritisations | ||
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| last reprioritisation on | suggested re-reading day | |||
| started reading on | finished reading on |
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