Kamsky Inc., which follows IFRS, had the following balances and amounts on its comparative financial statements at year end:

(a) Calculate income taxes paid in 2023 and discuss the related disclosure requirements under IFRS, if any.

(b) If Kamsky followed ASPE instead of IFRS, would the disclosure requirements for income taxespaid be any different?

(c) Use conditional formatting in Excel to create a visualization showing whether the balances increased or decreased from December 31, 2022, to December 31, 2023. Use green fill to indicate increases and red fill to indicate decreases.

Transcribed Image Text:

Income taxes payable Deferred tax asset Deferred tax liability Current income tax expense Deferred tax expense Dec. 31, 2023 $1,200 300 1,950 2,500 50 Dec. 31, 2022 $1,400 -0- 1,600 2,100 (200)