IAS 12
- Accounting
Recognition Of Deferred Tax Assets Relating To Tax Losses
Deferred tax assets relating to tax losses are to be recognized? A history of accounting losses or the existence of…
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What should be done when a tax rate or tax rule changes?
What should be done when a tax rate or tax rule changes? When a new tax rate or tax rule…
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Is Income Tax Expense Always Recognized In Current Year?
In single word, Yes. Income tax expense always recognized in the current year! Tax effect accounting as mandated in IAS…
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Tax loss accounting treatment, how tax loss is accounted for?|
Tax losses are created when allowable deductions exceed taxable income. The accounting standard envisages that there are three possible treatments…
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Recognition Of Deferred Tax Asset And Deferred Tax Liability
Criteria for Recognition of deferred tax asset and deferred tax liability is set under IAS 12. Deferred tax liabilities must…
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How accounting profit and taxable profit differ in accounting for income taxes.
Accounting profit and taxable profit differ in accounting for income taxes in the following ways: Accounting profit is defined in…
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What is a temporary difference in deferred tax calculation?
Deferred tax calculation Temporary differences between accounting profit and taxable profit arise when revenues and expenses are recognized in different…
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