12-16-2010, 03:32 PM
Hello Assalam o Alaikum!
This being my first post. happy to be here.
The other day I was reading the financial statement of Kohinoor Sugar Mills. What they had done is they had put the deferred tax figure in income statement (profit before tax - current tax + deferred tax = net income)
Whereas as per IFRS or my financial reporting subject in ACCA, they (normally) tax the deferred tax in non-current liabilities.
Why the treatment is different in Pakistan ?
Thank you
This being my first post. happy to be here.
The other day I was reading the financial statement of Kohinoor Sugar Mills. What they had done is they had put the deferred tax figure in income statement (profit before tax - current tax + deferred tax = net income)
Whereas as per IFRS or my financial reporting subject in ACCA, they (normally) tax the deferred tax in non-current liabilities.
Why the treatment is different in Pakistan ?
Thank you
