Chapter 20: Accounting for Income Taxes
After studying this chapter you should be able to:
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.
Identify special issues related to deferred incomes taxes.
Indicate the basic principles of the asset-liability method.