tailieunhanh - Lecture IFRS primer international GAAP basics: Chapter 23 - Wiecek, Young

Chapter 23 - Income taxes: IAS 12. The main contents of the chapter consist of mains parts: Related standards, IAS 12, current GAAP comparisons, IFRS financial statement disclosures, looking ahead, end-of-chapter practice. | Wiecek and Young IFRS Primer Chapter 23 Income Taxes: IAS 12 Income Taxes Related standards IAS 12 Current GAAP comparisons IFRS financial statement disclosures Looking ahead End-of-chapter practice Related Standards FAS 109 Accounting for income taxes Related Standards IAS 1 Presentation of financial statements IAS 8 Accounting policies, changes in accounting estimates and errors IAS 37 Provisions, contingent liabilities and contingent assets IFRS 3 Business combinations IAS 12 – Overview Objective and scope Recognition of current tax liabilities and assets Recognition of deferred tax liabilities and assets Measurement Recognition of current and deferred tax Presentation Disclosures IAS 12 – Objective and Scope IAS 12 addresses the accounting issues related to tax effects of Current period transactions and events Unused tax losses or credits Tax consequences when carrying amounts and tax amounts differ IAS 12 – Recognition of Current Tax Liabilities and Assets Current tax = amount of income taxes payable or recoverable on the taxable profit or loss for the period If current taxes payable > taxes paid, then Income taxes payable If current income taxes payable IAS 12 – Recognition of Deferred Tax Liabilities and Assets Underlying assumption of accounting model: Assets will be recovered for at least their carrying amount Liabilities will be settled for their carrying amount If there are tax consequences when the asset is recovered or liability settled, this effect should be reported on the statement of financial position now Future tax effect = deferred tax liability or deferred tax asset IAS 12 – Recognition of Deferred Tax Liabilities and Assets Q. Why a tax consequence? A. Because carrying amount of A & L may differ from their tax amount or tax base = a temporary difference Taxable temporary difference: Taxable income is increased in future when asset . | Wiecek and Young IFRS Primer Chapter 23 Income Taxes: IAS 12 Income Taxes Related standards IAS 12 Current GAAP comparisons IFRS financial statement disclosures Looking ahead End-of-chapter practice Related Standards FAS 109 Accounting for income taxes Related Standards IAS 1 Presentation of financial statements IAS 8 Accounting policies, changes in accounting estimates and errors IAS 37 Provisions, contingent liabilities and contingent assets IFRS 3 Business combinations IAS 12 – Overview Objective and scope Recognition of current tax liabilities and assets Recognition of deferred tax liabilities and assets Measurement Recognition of current and deferred tax Presentation Disclosures IAS 12 – Objective and Scope IAS 12 addresses the accounting issues related to tax effects of Current period transactions and events Unused tax losses or credits Tax consequences when carrying amounts and tax amounts differ IAS 12 – Recognition of Current Tax Liabilities and .

• Kế toán - Kiểm toán
• International Financial Reporting Standards
• Non financial assets
• Reporting basics
• Financial assets
• Reporting entity
• Income taxes
• Business entities
• Individual taxation
• Multijurisdictional taxation
• Transfer taxes
• Accounting for income taxes
• Accounting Standard
• Tiêu chuẩn kế toán
• Chuẩn mực kế toán
• Accounting policies
• Accounting Standards Interpretations
• Accounting for Taxes on Income
• Intermediate accounting
• Lecture Intermediate accounting
• 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
• Income statement presentation
• Valuation allowance revisited
• Local taxes