Unformatted text preview: for the deferred tax assets and liabilities. The chapter then touches on how to deal with different tax rates and the effect they will have on the taxes. That brings us to, in my opinion, the most interesting part in the chapter in which the book describes loss carrybacks and loss carryforwards. It is interesting to me because the government allows companies a tax break when said company experiences a loss in a year. These policies allow companies to make mistakes or have misfortunes and still stay afloat. In my current role most of the tax work is outsourced to CPA firms and we do not deal too much with the taxes....
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- Balance Sheet, deductible amounts