md sarfaraz November 4, 2021

Class 12 Accounts Notes: Depreciation and Deferred Taxes Notes PDF

Name: Class 12 Accounts Notes: Depreciation and Deferred Taxes Notes PDF - Shop Handwritten Notes (SHN)
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Depreciation and Deferred Taxes
Tax Depreciation
Accelerated depreciation
No judgment in determining depreciation expense
Tax Reporting
≠ Financial Reporting ==> timing
differences in measurement of income
Why would a firm prefer accelerated depreciation for tax
purposes?
Why does government allow this?
Why not use the tax method for financial reporting?
Different depreciation for tax and financial reporting
gives rise to Deferred Taxes

Total Pages – 4

PDF Size – 135 KB

Category: Uncategorized Tags: Accountancy Handwritten Notes, Class 12 Accounts Notes, Cost Accounting Notes, Financial Accounting Notes

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Class 12 Accounts Notes: Depreciation and Deferred Taxes Notes PDF

Depreciation and Deferred Taxes
Tax Depreciation
Accelerated depreciation
No judgment in determining depreciation expense
Tax Reporting
≠ Financial Reporting ==> timing
differences in measurement of income
Why would a firm prefer accelerated depreciation for tax
purposes?
Why does government allow this?
Why not use the tax method for financial reporting?
Different depreciation for tax and financial reporting
gives rise to Deferred Taxes

Total Pages – 4

PDF Size – 135 KB