tailieunhanh - Lecture Intermediate accounting: Principles and analysis (2nd edition): Chapter 15 - Warfield, Weygandt, Kieso

Chapter 15 - Accounting for income taxes. After completing this chapter you should be able to: Identify differences between pretax financial income and taxable income, describe a temporary difference that results in future taxable amounts, describe a temporary difference that results in future deductible amounts, explain the purpose of a deferred tax asset valuation allowance. | CHAPTER 15 ACCOUNTING FOR INCOME TAXES INTERMEDIATE ACCOUNTING Principles and Analysis 2nd Edition Warfield Weygandt Kieso Identify differences between pretax financial income and taxable income. Describe a temporary difference that results in future taxable amounts. Describe a temporary difference that results in future deductible amounts. Explain the purpose of a deferred tax asset valuation allowance. Describe the presentation of income tax expense in the income statement. Describe various temporary and permanent differences. Explain the effect of various tax rates and tax rate changes on deferred income taxes. Apply accounting procedures for a loss carryback and a loss carryforward. Describe the presentation of deferred income taxes in financial statements. Indicate the basic principles of the asset-liability method. Learning Objectives 1. On the topic, “Challenges Facing Financial Accounting,” what did the AICPA Special Committee on Financial Reporting suggest should be included in future financial statements? Non-financial Measurements (customer satisfaction indexes, backlog information, and reject rates on goods purchases). Forward-looking Information Soft Assets (a company’s know-how, market dominance, marketing setup, well-trained employees, and brand image). Timeliness (no real time financial information) Fundamentals of Accounting for Income Taxes Future taxable amounts and deferred taxes Future deductible amounts and deferred taxes Income statement presentation Specific differences Rate considerations Accounting for Net Operating Losses Financial Statement Presentation Review of Asset-Liability Method Loss carryback Loss carryforward Loss carryback example Loss carryforward example Balance sheet Income statement Basic principles Reporting deferred taxes Accounting for Income Taxes Service Cost - Actuaries compute service cost as the present value of the new benefits earned by employees during the year. Future salary levels considered in calculation. . | CHAPTER 15 ACCOUNTING FOR INCOME TAXES INTERMEDIATE ACCOUNTING Principles and Analysis 2nd Edition Warfield Weygandt Kieso Identify differences between pretax financial income and taxable income. Describe a temporary difference that results in future taxable amounts. Describe a temporary difference that results in future deductible amounts. Explain the purpose of a deferred tax asset valuation allowance. Describe the presentation of income tax expense in the income statement. Describe various temporary and permanent differences. Explain the effect of various tax rates and tax rate changes on deferred income taxes. Apply accounting procedures for a loss carryback and a loss carryforward. Describe the presentation of deferred income taxes in financial statements. Indicate the basic principles of the asset-liability method. Learning Objectives 1. On the topic, “Challenges Facing Financial Accounting,” what did the AICPA Special Committee on Financial Reporting suggest should be included

• Kế toán - Kiểm toán
• Income taxes
• Accounting for income taxes
• Income statement presentation
• Valuation allowance revisited
• Intermediate accounting
• Lecture Intermediate accounting
• Business entities
• Individual taxation
• Multijurisdictional taxation
• Transfer taxes
• Accounting Standard
• Tiêu chuẩn kế toán
• Chuẩn mực kế toán
• Accounting policies
• Accounting Standards Interpretations
• Accounting for Taxes on Income
• Financial Accounting
• Deferred tax liabilities
• Net operating losses
• Financial statement presentation
• Financial statements cash flow and taxes
• Corporate taxes
• Personal taxes
• Accounting income versus cash flow
• Statement of cash flows
• Taxes presents of balance sheet
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Financial reporting
• Business perspective
• Current income taxes
• Lecture Engineering economy
• Engineering economy
• Bài giảng Kinh tế kỹ thuật
• Depreciation taxes
• Straight line
• Local taxes