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Title: Financial Accounting: Deferred Income Tax
Description: Summary for Deferred Income Tax
Description: Summary for Deferred Income Tax
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Income Statement Approach
Accounting Income (PAS)
Permanent Differences:
Non-taxable Revenue
Non-deductible Expense
Accounting Income Subject to Tax
Temporary Differences:
Future Taxable Amount
Future Deductible Amount
Taxable Income
xx
(xx)
xx
xx
Total Income Tax Expense
Current or Future = (Deferred Tax Expense)
(xx)
X
Enacted Tax Rate = Deferred Tax Benefit
xx
xx X Current Tax Rate = Current Income Tax Expense
*Future Taxable Amount = Taxable Temporary Difference
*Future Deductible Amount = Deductible Temporary Difference
*Accounting Income PAS = Pretax Financial Income
Statement of Financial Position Approach
- CV vs Tax Base
- Direct Computation: DTL and DTA
Title: Financial Accounting: Deferred Income Tax
Description: Summary for Deferred Income Tax
Description: Summary for Deferred Income Tax