Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

The International Accounting Standards Board proposed amendments to its income tax standard to provide temporary relief from accounting for deferred taxes arising from the imminent implementation of ...

Our regular readers know that our shtick is criticizing generally accepted accounting principles, as well as those who create and implement them without fully anticipating their negative impact on the ...

Accrual accounting, a system of accounting designed to account for sales and expenses in the period they were incurred, allows certain expenses, assets, and sales to be deferred to the next accounting ...

A deferred tax asset is usually an item on a company's balance sheet that was created by the early payment or overpayment of taxes. They are financial assets that can be redeemed in the future to ...