《ACCT2016 S1 2016 Week 9 Income Tax 6pp》.pdfVIP

Accounting profit and taxable profit  Amount of accounting profit is determined after applying Accounting Standards and GAAP  Amount of taxable profit and tax payable is determined in accordance with the rules established by the taxation authorities (Income Tax Assessment Act)  Significant differences in the timing of the recognition of revenues (income) and expenses between tax legislation and accounting standards results in Accounting for Income Taxes different profit numbers AASB112 ACCT2011 Financial Accounting A 1 ACCT2011 S1 2012 4 ACCT2011 S1 2012 Reading