Chapter 21: Accounting for Income Taxes

In this section

• Current Tax Expense/Benefit, Deferred Tax Assets/Liabilities
  Discover how to calculate and present current tax expense, deferred tax assets, and deferred tax liabilities, with practical insights on book vs. tax differences and intangible amortization.
• Valuation Allowances, NOLs, Intraperiod Tax Allocation
  Explore the measurement of valuation allowances on deferred tax assets, the handling of net operating loss carryforwards, and the principles of intraperiod tax allocation for income taxes under U.S. GAAP.
• Uncertain Tax Positions, Disclosures
  Explore the essentials of uncertain tax positions, including the two-step recognition and measurement approach, the 'more likely than not' threshold, and required footnote disclosures under U.S. GAAP.