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    Scope (IAS 12) : 1 This Standard Shall Be Applied in Accounting For Income Taxes

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    Nafdhea Hirata
    IAS 12 outlines the accounting requirements for income taxes. It applies to all domestic and foreign taxes that are based on taxable profits, and also taxes payable on distributions. The standard does not address methods for government grants or investment tax credits, but does cover temporary differences that may arise from such items. IAS 12 provides guidance on how to account for the current and future tax consequences of: the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognized in an entity's statement of financial position; and transactions and other events of the current period that are recognized in an entity's financial statements.

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    Scope (IAS 12) : 1 This Standard Shall Be Applied in Accounting For Income Taxes

    Uploaded by

    Nafdhea Hirata
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    IAS 12 outlines the accounting requirements for income taxes. It applies to all domestic and foreign taxes that are based on taxable profits, and also taxes payable on distributions. The standard does not address methods for government grants or investment tax credits, but does cover temporary differences that may arise from such items. IAS 12 provides guidance on how to account for the current and future tax consequences of: the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognized in an entity's statement of financial position; and transactions and other events of the current period that are recognized in an entity's financial statements.

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    IAS 12 outlines the accounting requirements for income taxes. It applies to all domestic and foreign taxes that are based on taxable profits, and also taxes payable on distributions. The standard does not address methods for government grants or investment tax credits, but does cover temporary differences that may arise from such items. IAS 12 provides guidance on how to account for the current and future tax consequences of: the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognized in an entity's statement of financial position; and transactions and other events of the current period that are recognized in an entity's financial statements.

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    5 views1 page

    Scope (IAS 12) : 1 This Standard Shall Be Applied in Accounting For Income Taxes

    Uploaded by

    Nafdhea Hirata
    IAS 12 outlines the accounting requirements for income taxes. It applies to all domestic and foreign taxes that are based on taxable profits, and also taxes payable on distributions. The standard does not address methods for government grants or investment tax credits, but does cover temporary differences that may arise from such items. IAS 12 provides guidance on how to account for the current and future tax consequences of: the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognized in an entity's statement of financial position; and transactions and other events of the current period that are recognized in an entity's financial statements.

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    https://service.betterregulation.

    com/document/320235

    https://www.coursehero.com/file/44771604/factsheet-ias12-income-taxespdf/

    http://www.pajakonline.com/engine/learning/view.php?id=53

    Scope (IAS 12)


    1 This Standard shall be applied in accounting for income taxes.

    2 For the purposes of this Standard, income taxes include all domestic
    and foreign taxes which are based on taxable profits. Income taxes also
    include taxes, such as withholding taxes, which are payable by a
    subsidiary, associate or joint arrangement on distributions to the reporting
    entity.

    3 This Standard does not deal with the methods of accounting for
    government grants (see IAS 20 Accounting for Government Grants and
    Disclosure of Government Assistance) or investment tax credits.
    However, this Standard does deal with the accounting for temporary
    differences that may arise from such grants or investment tax credits.

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