06-12-2006, 07:12 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">As far as WPPF's treatment is concerned ICAP's ATR 8 adresses its treatment<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
treatment of WPPF = 5% of N.P before tax and before any deduction in respect of
a.interest on debentures , on capital A/Ce.gTFCs , on any sums which may be set aside in each year out of reserves
b.any special funds e.g WPPF,WWF etc.
this is treatment of WPPF as i know , do correct me if i am wrong
BUT what is ICAP's ATR 8
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">For deferred taxation concept just click on the following link and if you are still not cleared just inform me.
http//www.accountancy.com.pk/forum/topic.asp?topic_id=3411<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
i read the thread and got most of it..means the sole purpose for creating this deferred tax is to make our taxable and accounting income comparable....and after the final tax assessment we do adjust our accounting estimates respectively..isn't it
one more thing , i have heard that disclosure note for fixed assets has now changed...now we disclose only opening NBV,additions at cost,disposals at NBV & closing NBV..is it true and if it is should i make the disclosure note according to new format or should i stick to former one
treatment of WPPF = 5% of N.P before tax and before any deduction in respect of
a.interest on debentures , on capital A/Ce.gTFCs , on any sums which may be set aside in each year out of reserves
b.any special funds e.g WPPF,WWF etc.
this is treatment of WPPF as i know , do correct me if i am wrong
BUT what is ICAP's ATR 8
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote">For deferred taxation concept just click on the following link and if you are still not cleared just inform me.
http//www.accountancy.com.pk/forum/topic.asp?topic_id=3411<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
i read the thread and got most of it..means the sole purpose for creating this deferred tax is to make our taxable and accounting income comparable....and after the final tax assessment we do adjust our accounting estimates respectively..isn't it
one more thing , i have heard that disclosure note for fixed assets has now changed...now we disclose only opening NBV,additions at cost,disposals at NBV & closing NBV..is it true and if it is should i make the disclosure note according to new format or should i stick to former one
