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What is the rationale for interperiod income tax allocation?
nonne
The result of interperiod tax allocation is that?
The income tax expense on the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year.
Interperiod tax allocation would not be required when?
statutory (or percentage) depletion exceeds cost depletion for the period
When are interperiod income tax allocation procedures appropriate?
differences between net income for tax purposes and financial reporting occur because, even though financial accounting principles and tax laws concur on the item to be recognized as revenues and expenses, they don't concur on the timing of the recognition.
What is intraperiod tax allocation?
Intraperiod tax allocation is the act of allotting income taxes to the various parts that are seen in a businessâ??s income statement. An intraperiod tax allocation arises due to the differences between generally accepted accounting rules and income tax rules.
What is the rationale for interperiod income tax allocation?
nonne
What is the result of interperiod tax allocation is?
interperiod tax allocation results in a deferred tax liability
The result of interperiod tax allocation is that?
The income tax expense on the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year.
Interperiod tax allocation would not be required when?
statutory (or percentage) depletion exceeds cost depletion for the period
When are interperiod income tax allocation procedures appropriate?
differences between net income for tax purposes and financial reporting occur because, even though financial accounting principles and tax laws concur on the item to be recognized as revenues and expenses, they don't concur on the timing of the recognition.
Is Intraperiod tax allocations a Permanent Difference or temporary Difference?
When we talk about Permenent difference or temporary difference, we actually mean Interperiod Tax allocation. Intraperiod tax allocation involves apportionning the total tax provision for financial accounting purpose in a period between the income or loss from: Income frm continuing operation, Discontinued operations, Extraordinary items, Cumulative effect of accounting change, and other comprehensive income.
What is tax allocation?
Intraperiod tax allocation is the act of allotting income taxes to the various parts that are seen in a businessâ??s income statement. An intraperiod tax allocation arises due to the differences between generally accepted accounting rules and income tax rules.
What is intraperiod tax allocation?
Intraperiod tax allocation is the act of allotting income taxes to the various parts that are seen in a businessâ??s income statement. An intraperiod tax allocation arises due to the differences between generally accepted accounting rules and income tax rules.
Income tax allocation procedures are justified by what concept?
revenue recognnition
What is the meaning of Tax allocation?
Tax allocation is the process of apportioning the effect of tax among the various income statement items and among the various accounting periods so that the financial statemnets can reflect the true financial picture of the company as of a specific period and date.
What has the author Robin Douthitt written?
Robin Douthitt has written: 'Canadian Family Tax Law and its implications for household time allocation' -- subject(s): Family, Family allowances, Income tax, Income tax deductions for expenses, Time management
What has the author Michael J Novogradac written?
Michael J. Novogradac has written: 'Low-income housing tax credit handbook' 'GAAP Accounting for the LIHC' 'New markets tax credit handbook' 'Housing Tax Credit Allocation Application Workbook' 'Low Income Housing Tax-Exempt Bond Handbook'
