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IAS 12 and FAS 109 pertain to income tax accounting. Under the IAS, is the guidance focused more on tax effects from deductible temporary differences
IAS 12 and FAS 109 pertain to income tax accounting. Under the IAS, is the guidance focused more on tax effects from deductible temporary differences or tax effects from taxable temporary differences, or both? And, how does IAS 12 differ from FAS 109 when dealing with temporary differences? Note -an alternative discussion is to list what deferred tax transactions create differences between tax and GAAP financial accounting statements.
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