Income Taxes IAS 12 - Wiley Home所得税的国际会计准则12号-威利家.ppt

End-of-Chapter Practice 23-1 IAS 12 provides much more guidance on the recognition and measurement of the tax effects derived from deductible temporary differences than for the benefits from taxable temporary differences. Instructions Write a short paragraph to explain this situation. * End-of-Chapter Practice ?23-2 Listed below are a number of situations that affect the financial statements. Development costs have been capitalized on the statement of financial position and are being amortized to profit or loss over three years, but deducted as an expense for tax purposes as incurred. Revenue is recognized as goods are delivered for financial reporting purposes, but on a cash basis for tax purposes. An entity borrows money and pays a transaction fee on the amount borrowed. The transaction costs are added to the debt and amortized using the effective interest method for financial reporting purposes, although they were deducted when they were paid for tax purposes. Pension expense is charged to profit or loss each period although tax legislation allows entities to deduct only the contributions to the pension trustee to be deducted for tax purposes. Expenses have always exceeded the contributions. Investment property is measured according to the revaluation model for financial reporting purpose, resulting in valuations in excess of original cost. This method is not permitted for tax purposes. Instructions For each situation described above, indicate whether the company has a deductible or a taxable temporary difference and whether it will result in the recognition of a deferred tax asset or a tax liability. Explain each briefly. * End-of-Chapter Practice 23-3 A company buys equipment for $1,000, uses it in the manufacturing of goods for resale, and depreciates it on a straight-line basis over its five-year expected useful life. For tax purposes, the equipment is depreciated at 25% a year on a straight-line basis. Tax losses may be carried back against tax