标题: Income Tax Expense Equation [打印本页] 作者: wonderfuldream 时间: 2011-7-13 16:24 标题: Income Tax Expense Equation
From the Reading 37:
"Income tax expense reported on a company's income statement equals taxes payable, plus the net increase in deferred tax assets, less the net increase in deferred tax liabilities."
From the Schwesser notes:
Income Tax Expense = Tax payable + Change in DTL - Change in DTA
Can someone explain which is correct?作者: johnnyBuz 时间: 2011-7-13 16:24
it might be easier to look at this in debits and credits, liabilities on the credit and assets on the debit side. The bottom equation looks correct.
