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Intermediate Accounting, 2/e
Thomas Beechy, York University
Joan E. Conrod, Dalhousie University
OLC Content Author: Clifton Philpott, Kwantlen University College

Accounting for Corporate Income Taxes

Chapter Overview

The following is a list of the major topics covered in Chapter 16

  1. Intraperiod Tax Allocation
    1. Example of Intraperiod Tax Allocation
    2. Provision or Expense?
  2. Interperiod Tax Allocation – Introduction
    1. Differences Between Taxable and Accounting Income
      1. Permanent Differences
      2. Temporary Differences
    2. Timing or Temporary Differences?
  3. Conceptual Issues in Interperiod Tax Allocation
    1. Extent of Allocation
      1. Taxes Payable Method
      2. Comprehensive Method
      3. Partial Allocation
  4. International Perspective
    1. Measurement Method
      1. Deferral Method
      2. Liability Method
      3. Effect of Tax Rates
      4. Discounting
  5. Basic Illustration - Interperiod Tax Allocation
    1. Effective Tax Rate
    2. Changes in Income Tax Rate
  6. Differences between Carrying Value and Tax Basis
    1. Future Income Tax Assets
  7. Balance Sheet Presentation
  8. Extended Illustration - Income Statement Approach
  9. Extended Illustration - Balance Sheet Approach
  10. Disclosure
    1. General Recommendations
    2. Reconciliation of Effective Tax Rates
    3. Differential Reporting
      1. Applicability
      2. Accounting Method
      3. Initial Application
      4. Disclosure
  11. Cash Flow Statement
  12. Appendix
    1. Investment Tax Credit
      1. General Nature
      2. Accounting Treatment
      3. Expenditures Reported as Current Expenses
      4. Expenditures Capitalized or Deferred




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