Question: Below is an extract from Cisco Systems 2012 Annual Report. What is the firms GAAP effective tax rate? Why does it differ from the top

Below is an extract from Cisco Systems’ 2012 Annual Report. What is the firm’s effective tax rate? Why does it differ from the top statutory tax rate? What are deferred taxes? What are the major deferred tax items for Cisco? What is the amount of unrecognized tax benefits that Cisco has as of the year ended July 28, 2012?

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A firms GAAP effective tax rate ETR is defined as the total tax expense divided by pretax book income Using Ciscos terms ETR provision for income taxesincome loss before the provision for income taxes ... View full answer

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