Question

The APB requires comprehensive interperiod income tax allocation under the deferred method. The FASB requires comprehensive interperiod income tax allocation under the asset– liability approach. For the following debate, you may take into consideration the definitions of the elements of financial statements found in SFAC No. 6 and other theoretical concepts such as relevance, reliability, and matching.
Team Debate:
Team 1: Defend the deferred method of accounting for interperiod income tax allocation.
Team 2: Defend the asset– liability approach of accounting for interperiod in-come tax allocation.



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  • CreatedDecember 17, 2014
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