{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

SAT Case 12-6-Power Point-2010

SAT Case 12-6-Power Point-2010 - Allocation Accounting 5120...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Methods of Interperiod Tax  Allocation Accounting 5120 Seminar in Accounting Theory Chapter 12 – Accounting for Income Taxes Case 6 Presented By: Babak Mammadov Curtis Grumke
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Taxable Income & Financial Income Taxable income is calculated in accordance with prescribed tax regulations and rules Financial income is measured and reported in accordance with generally accepted accounting principles Differences between taxable income and financial income occur because tax regulations and GAAP frequently differ
Background image of page 2
Interperiod Tax Allocation There are three general views regarding interperiod income tax allocation: 1. No Allocation 2. Partial Allocation 3. Comprehensive Allocation
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Interperiod Tax Allocation Allocation of income taxes to accounting periods Results when timing of revenue and expense recognition is different in the income statement and tax return
Background image of page 4
Interperiod Tax Allocation Allocation of income taxes to accounting periods Results when timing of revenue and expense recognition is different in the income statement and tax return
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Interperiod Tax Allocation Primary income allocation issue is whether and how to account for the tax effects of temporary differences between taxable income and pre-tax financial accounting income.
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}