tailieunhanh - Lecture Intermediate accounting (15th edition): Chapter 19 - Kieso, Weygandt, Warfield

Chapter 19 - 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. | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California, Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 19 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. After studying this chapter, you should be able to: LEARNING OBJECTIVES 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. Accounting for Income Taxes 19 Corporations must file income tax returns following the guidelines developed by the Internal Revenue Service (IRS). Because GAAP and tax regulations differ in a number of ways, the amounts reported for the following will differ: income tax expense (GAAP) income tax payable (Internal Revenue Code). Accounting for Income Taxes LO 1 Tax Code Financial Statements Pretax Financial Income GAAP Income Tax Expense Taxable Income Income Taxes Payable Tax Return vs. Accounting for Income Taxes LO 1 Illustration: Chelsea, Inc. reported revenues of $130,000 and expenses of $60,000 in each of its first three years of operations. For tax purposes, Chelsea reported the same expenses to the IRS in each of the years. Chelsea reported . | Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting Intermediate Accounting Prepared by Coby Harmon University of California, Santa Barbara Westmont College INTERMEDIATE ACCOUNTING F I F T E E N T H E D I T I O N Prepared by Coby Harmon University of California, Santa Barbara Westmont College kieso weygandt warfield team for success PREVIEW OF CHAPTER Intermediate Accounting 15th Edition Kieso Weygandt Warfield 19 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. After studying this chapter, you should be able to: LEARNING OBJECTIVES Identify differences between pretax financial income and taxable income. Describe a temporary difference that results in

• 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