f7第17章税务会计.pdfVIP

Topics ◼ Accounting for current tax liabilities and assets ◼ Accounting for deferred tax,and related deferred tax asset and liabilities 2 1 Current tax • Current tax is the amount of e taxespayable or recoverable in respect of taxableprofit or loss for a period • Current tax unpaid for current and prior periods is recognised as a liability. Amounts paid in excess of amounts due are shown as an asset. • The benefit relating to a tax loss that can be carried back to recover current tax of a previous period is recognised as an asset Slide 3 Notes ◼ Complexities arise from the future tax consequence of what going on in the accounts now ◼ This aspect of tax is called deferred tax 4 1.3 Definitions ✓ Accounting profit vs Taxable profit(tax loss) ✓ Tax expense(tax e)=current tax+ deferred tax ✓ Current tax=taxable profit(tax loss) ×Tax rate ✓ Deferred tax:an accounting measure,used to match the tax effects of transactions with their accounting impact 5 Deferred tax • Where it is probable that the recovery or settlement will make future tax payments larger or smaller than if they had no tax consequences, IAS 12 requires the recognition of the tax effect. Slide 6 1.4 Recognition of current tax liabilities and assets e Statement Balance Sheet Profit before tax Assets e tax Tax receivable current tax Deferred tax asset deferred tax profit Liabilities Tax payable