Ch16 Accounting.for.Income.Taxes tài liệu, giáo án, bài giảng , luận văn, luận án, đồ án, bài tập lớn về tất cả các lĩnh...
16-1 Chapter 16 Accounting for Income Taxes 16-2 Learning Objectives Describe the types of temporary differences that cause deferred tax liabilities and determine the amounts needed to record periodic income taxes Identify and describe the types of temporary differences that cause deferred tax assets 16-3 Deferred Tax Assets/Liabilities The The Internal Internal Revenue RevenueCode Code is is the the set setof ofrules rulesfor for preparing preparingtax tax returns returns GAAP GAAPis isthe the set setof of rules rulesfor forpreparing preparing financial financial statements statements Results in Usually Financial Financialstatement statement income income tax taxexpense expense Results in IRS IRSincome income taxes taxes payable payable The The objective objectiveof ofaccounting accountingfor forincome income taxes taxesis is to to recognize recognizeaa deferred deferred tax tax liability liability or ordeferred deferred tax taxasset asset for for the the tax taxconsequences consequencesof ofamounts amountsthat thatwill willbecome become taxable taxable or ordeductible deductible in infuture future years yearsas asaaresult resultof of transactions transactionsor orevents eventsthat thatalready alreadyhave have occurred occurred 16-4 Temporary Differences Temporary Temporary differences differences will will reverse reverse out out in in one one or or more more future future periods periods Accounting Income>Taxable Income Accounting Income