Notes 7

Notes 7 - Add in permanent differences Finish w/ effective...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Balance Sheet: Liabilities Required income tax disclosures: o Components of income tax expense: Amount currently payable vs. amount deferred o Reconciliation of income tax rate w/ statutory rate: Not temporary difference like above Permanent difference involving rate o Components of deferred tax assets and liabilities: Ex. Xerox: Provision means expense Current means payable (what’s actually paid) Ex. Xerox rates: Start w/ statutory rate
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Add in permanent differences Finish w/ effective tax rate What were main causes of Xeroxs effective rate in 2007? o Biggest amount was other foreign Ex. Xerox deferred: Deferred tax assets: o Tax effect of future tax deductions plus valuation allowance (want to be small) Deferred tax liabilities: o Tax effect of future taxable income (want to be big)...
View Full Document

Page1 / 2

Notes 7 - Add in permanent differences Finish w/ effective...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online