Book and Tax Accounting Differences

1) Explain the fundamental issues for inter-period income tax allocation, identify and explain the various types of temporary and Permanent differences

2) Apply inter-period income tax allocation, calculate the impact of temporary differences on income expense, and record income tax expense and deferred taxes

3) Evaluate the need for a deferred tax asset valuation allowance account

4) Explain accounting procedures for a loss carryback and loss carryforward.

5) Explain the fundamental differences between US GAAP and IFRS accounting for income tax

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