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Deferred Tax
05-25-2010, 06:11 PM
Post: #1
Deferred Tax
I Just want to know the deferred tax in detail with example of newly incorporated company. how that company accounted deferred tax in its financial statement




thanks
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06-04-2010, 07:48 PM
Post: #2
 
Please wait for a few days.
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06-05-2010, 03:05 PM
Post: #3
 
See the financial statements of big companies to see working of deferred tax.
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06-07-2010, 03:20 AM
Post: #4
 
you can use Kamran Nasir book on this topic. thats good for understanding the basics of deffered tax
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06-12-2010, 05:16 AM
Post: #5
 
listen deffered tax is not so complex as people say ...you might find it hard but once you understand it..its very very simple to apply..actually there is defference between profit as per ifrs and profit as per taxation authourities because for instance we charge depreciation on asset as per ifrs rs 10,000 however as per tax rules the depreciation comes out to be 5,000 so they will reverse accouting depreciation of 10,000 and book 5,000 for computation of tax profits.and u will pay tax on 5000 more than accouting profit so there is a timing difference because ulitmate over the period of years total tax and accounting depreciation will be same and equal to the actual cost..but u r paying excess tax due to timing thus we will book asset of(10000-5000) x 20%(rate of same company) as deffered tax asset..... )

best of luck )
SYED IMDAD ALI SHAH BUKHARI


<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by bilal hanif</i>
<br />I Just want to know the deffered tax in detail with example of newly incorporated company. how that company accounted deffered tax in its financial statement




thanks

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09-04-2010, 06:57 PM
Post: #6
 
All treatments of deferred taxation are clearly stated in IAS 12, if you can understand the wording of IAS 12 easily then you can be able to apply deferred taxation prectically.
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