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Topics hide Determine Tax base Tax base of a revalued asset that is not depreciated Items with a tax base but no accounting base Method of recovery of an asset Taxation and Management’s intention Determine Tax base The tax base of an asset or a liability is the amount attributed to that asset or liability … Read more
Topics hide Supplier finance arrangements What are supplier finance arrangements? Who is impacted? Why do supplier finance arrangements create an issue? What are the consequences for the Cash Flow Statement? What are some of the disclosure requirements? Supplier finance arrangements A purchaser of goods or services may enter into a variety of arrangements to fund … Read more
Topics hide IAS 12 Income taxes IAS 12 Tax measurement IAS 12 Income taxes IAS 12 Tax measurement 46 Current tax liabilities (assets) for the current and prior periods shall be measured at the amount expected to be paid to (recovered from) the taxation authorities, using the tax rates (and tax laws) that have been … Read more
Topics hide IAS 12 Income taxes IAS 12 Tax base IAS 12 Income taxes IAS 12 Tax base 7 The tax base of an asset is the amount that will be deductible for tax purposes against any taxable economic benefits that will flow to an entity when it recovers the carrying amount of the asset. … Read more
Topics hide IAS 7 Statement of cash flows IAS 7 Changes in liabilities arising from financing activities IAS 7 Statement of cash flows IAS 7 Changes in liabilities arising from financing activities 44A An entity shall provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both … Read more
Topics hide IAS 37 Provisions, Contingent Liabilities and Contingent Assets IAS 37 Provisions Other liabilities and Contingent liabilities Provisions and other liabilities IAS 37 Provisions Other liabilities and Contingent liabilities Relationship between provisions and contingent liabilities IAS 37 Provisions, Contingent Liabilities and Contingent Assets IAS 37 Provisions Other liabilities and Contingent liabilities Provisions and other … Read more
Temporary differences that will result in taxable amounts in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled. IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the … Read more
Temporary differences between the carrying amount of an asset or liability in the statement of financial position and its tax base that will result in amounts that are deductible in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled. … Read more
The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. IFRS terms or definitions come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Individual jurisdictions around the world may require or permit the use of (locally authorised … Read more
IAS 12 Income taxes IAS 12 Objective Scope Definitions Objective The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for income taxes is how to account for the current and future tax consequences of: the future recovery (settlement) of the carrying amount of assets (liabilities) … Read more