Seventeen of the identified firms restated their financial statements due to two problems: (1) improper recording of deferred taxes
related to indefinite-lived intangibles acquired in mergers and acquisitions and (2) mishandling of deferred tax
assets and liabilities on indefinite-lived intangibles in determining the valuation allowance.
As the merger and acquisition business continues to prosper, practitioners should be aware of the tax implications and compliance requirements of the interest charge on deferred tax
Key words: financial information, international financial reporting standards, deferred tax
, accounting result, tax result
Taipei, June 9, 2010 (CENS) -- Despite its long-term benefit, the cut on business income tax rate to 17% may affect the profit margin of some Taiwanese banks this year, due to the reduction in the value of their deferred tax
assets, reported Moody's yesterday (June 8).
One of the more common technical errors is mistaking when to book a deferred tax
asset as a carry-forward.
It is important to understand how to account for taxation, because it has an impact on the income statement (in the tax expense account) and the balance sheet (in the income tax and deferred tax
As the stock market slides, more stock options and related deferred compensation instruments are "underwater," and the related deferred tax
assets may no longer be recoverable.
The difference between what is reported on the financial statement and the tax returns will either reduce the deferred tax
asset or refund, or increase the deferred tax
Quickly calculate deferred taxes
by legal entity -- The majority of temporary differences impacting the calculation of current and non-current deferred tax
assets and liabilities are automatically sourced from within the solution.
The valuation allowance for deferred tax
assets is an estimate of the portion of deferred tax
assets that is not realizable because of insufficient future taxable income.
Japan's 16 major banks slashed their combined deferred tax
assets, a key capital component, by 1.
OB) today announced that the financial statements issued by the Company for the fiscal year ended January 3, 2004 required a restatement with respect to calculation of the valuation allowance (mark-down) of deferred tax