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标题: Reading 38: Income Taxes-LOS j 习题精选 [打印本页]

作者: 1215 时间: 2011-3-21 15:53 标题: [2011]Session 9-Reading 38: Income Taxes-LOS j 习题精选

Session 9: Financial Reporting and Analysis: Inventories, Long-lived Assets, Income Taxes, and Non-current Liabilities
Reading 38: Income Taxes

LOS j: Identify the key provisions of and differences between income tax accounting under IFRS and U.S. GAAP.

One major difference between the presentation of deferred tax assets and liabilities under IFRS and under U.S. GAAP is that:

A)
a valuation allowance is presented only under U.S. GAAP.

B)
under IFRS deferred tax assets and liabilities are not adjusted for changes in the the firm’s actual tax rate.

C)
all deferred tax assets and liabilities are classified as noncurrent under IFRS.

Under U.S. GAAP, deferred tax assets and liabilities are classified as current or non-current according to the classification of the underlying asset or liability. Under IFRS, deferred tax assets and deferred tax liabilities are all classified as noncurrent, with footnote disclosure about the expected timing of reversals.

作者: 1215 时间: 2011-3-21 15:53

A tax rate that has been substantively enacted is used to determine the balance sheet values of deferred tax assets and deferred tax liabilities under:

A)
IFRS only.

B)
U.S. GAAP only.

C)
both IFRS and U.S. GAAP.

Under IFRS, a tax rate that has been enacted or substantively enacted is used to measure deferred tax items. Under U.S. GAAP, only a tax rate that has actually been enacted can be used.

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