AC 750 Chapter 17

AC 750 Chapter 17 - Chapter 17 Accounting for Income Taxes...

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Accounting for Income Taxes Chapter 17
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AC 750 - Chapter 17 2 Financial Statement  Tax Expense FAS 109  (ASC 740) Current State Tax Expense Current Federal Tax Expense Deferred Federal Tax Expense Deferred State Tax Expense Income Statement Tax Expense Financial Statements Foot Notes
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Objectives Of “Accounting For Income Taxes” and  Income tax Provision Process The income tax provision includes Current year taxes payable or refundable Any changes to future income taxes payable or refundable that  result from differences in the timing of when an item is reported on  the tax return compared to the financial statement A company records these future income taxes payable or  refundable on its balance sheet as Deferred tax liability  Deferred tax asset AC 750 - Chapter 17 3
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Objectives of ASC 740 ASC 740 applies only to INCOME taxes levied by: U.S. federal government
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This note was uploaded on 03/19/2012 for the course ACC 750 taught by Professor Tracynoga during the Spring '12 term at Bentley.

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AC 750 Chapter 17 - Chapter 17 Accounting for Income Taxes...

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