New rules for accounting for income taxes. (implications of Statement of Financial Accounting Standard No. 109): An article from: The National Public Accountant

This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on August 1, 1997. The length of the article is 3687 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The Statement of Financial Accounting Standard (SFAS) No. 109 is similar to SFAS No. 96 except that it reduces the need for complex scheduling of temporary differences and eliminates the requirement of integrating the regular tax system and the AMT system for US taxes. SFAS No. 109 also makes deferred tax assets readily identifiable. It is imperative that management evaluates which current tax asset or liability should be recognized for refundable or payable taxes and that they use the valuation allowance account to adjust deferred tax assets prior to implementing SFAS No. 109.

Citation Details
Title: New rules for accounting for income taxes. (implications of Statement of Financial Accounting Standard No. 109)
Author: Alan Reinstein
Publication:The National Public Accountant (Magazine/Journal)
Date: August 1, 1997
Publisher: National Society of Public Accountants
Volume: v42 Issue: n6 Page: p24(7)

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