The companies that pay different kinds of taxes: property taxes, value added taxes, municipal taxes, etc. Note CN 14007, "Bills Receivable Valuation," explained the best way to account for value added taxes. Other taxes, including property taxes, are only an expense that firms recognize when they are due. However, corporate income taxes are not so clear-cut and deserve a specific note.
The goal of this article is to explain the best way to account for corporate income taxes and provide enough intuition to understand firms' tax disclosures.
PUBLICATION DATE: May 02, 2016 PRODUCT #: IES538-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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