In making consolidated nancial statement adjustments, sometimes tax-effect adjustments are made. Why?

Question:

In making consolidated ﬁnancial statement adjustments, sometimes tax-effect adjustments are made. Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

See More Books

Question Posted: Jun 09, 2015 03:20 AM

See More Questions

Why are some adjustments in the previous periods consolidated nancial statements also made in the current periods nancial statements?
Why do companies that file consolidated tax returns often choose to allocate tax expense to the individual affiliates?
Why do the tax laws sometimes discriminate against related party contracts? Is this always in societys best interest?
The Chicago Omni Hotel is a 750-room luxury hotel offering guests the finest facilities in downtown Chicago. The hotel is organized into four departments: lodging, dining, catering, and retail...
Peter Jones has owned all 100 shares of Trenton Corporation stock for the past five years. This year, Mary Smith contributes property with a $50,000 basis and an $80,000 FMV for 80 newly issued...
9.Frank has consistently used the cash method to report income from services. Because the accrual method will result in a better measure of income, he can change to the accrual method without seeking...
How might directors behave as a result of this focus on share price increases rather than dividends?
On December 1, 2014, Fullerton Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of...
please solve soon just 30 mintues left Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation. 2 3 4...
The MillStone Partnership reported profit of $60,000 for the year ended February 29, 2024. Salary allowances are $45,000 for H. Mills and $25,000 for S. Stone. Interest allowances of 5% are...
Why is it necessary to make adjustments for intragroup transactions?
Why is it important to identify transactions as current or previous period transactions?
Kale Thompson, an auditor with Sneed CPAs, is performing a review of Strawser Companys inventory account. Strawser did not have a good year and top management is under pressure to boost reported...
Classic Auto Parts sells new and used auto parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During 2012, its first year of operations, Classic...
The following information is available for Market Inc. and Supply Inc. at December 31, 2012: Required a. What is the accounts receivable turnover for each of the companies for 2012 ? b. What is the...
Buck Novak, the chief executive officer of Novak Corporation, has assembled his top advisers to evaluate an investment opportunity. The advisers expect the company to pay $$400,000$ cash at the...
Verify the log-likelihood in equation (16.4) for the Tobit model. In L = = In { 1-0 (x-di)} 1:y=di 122. + (y; - x) 02 (16.4) i:y;>di
Milo Company is considering the purchase of new equipment for its factory. It will cost $$250,000$ and have a $$50,000$ salvage value in five years. 1 he annual net income from the equipment is...
For the given transfer functions, find the response of the system due to the input force $F(t)=$ $2 \cos (3 t) u(t)$ and zero initial conditions: (a) $X(s) / \mathcal{F}(s)=1 /(s+2)$ (b) \(X(s)...
For a Poisson process of rate , the Bernoulli arrival approximation assumes that in any very small interval of length , there is either 0 arrivals with probability 1- or 1 arrival with probability ....
a. System with Coulomb damping b. System with viscous damping c. System subject to base excitation d. System with hysteresis damping e. System with rotating unbalance $m \ddot{x}+k x \pm \mu N=F(t)$
How can you determine whether or not a governmental fund should be considered major?
What is included on a budgetary comparison schedule? Is such a schedule required to be included in a CAFR?
What is included on a budgetary comparison schedule? Is such a schedule required to be included in a CAFR?
please help Problem 13-7 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] [The following information applies to the questions displayed below.] Comparative financial statements for Weaver...
A firm has 1000 shareholders, each of whom own $59 in shares. The firm uses $28000 to repurchase shares. What percentage of the firm did each of the remaining shareholders own before the repurchase,...
Vancouver Bank agrees to lend $ 180,000 to Surrey Corp. on November 1, 2020 and the company signs a six-month, 6% note maturing on May 1, 2021. Surrey Corp. follows IFRS and has a December 31 fiscal...

In making consolidated nancial statement adjustments, sometimes tax-effect adjustments are made. Why?

Question:

Step by Step Answer:

Accounting for tax is governed by IAS 12 Deferred tax accounts are recorded when a temporary differe...View the full answer

Advanced Accounting

Students also viewed these Accounting questions