List the deferred tax assets that have been recorded on the Amazon's financial statements in each of
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Question:
- List the deferred tax assets that have been recorded on the Amazon's financial statements in each of the last three fiscal years.
- Explain how these items created the deferred tax assets.
- Explain how Amazon might recover the benefit of these deferred tax assets in the future.
- Describe the potential timing of this recovery.
- Identify Amazon's valuation allowance on its deferred tax assets, including any changes to this allowance in the past three fiscal years.
- Explain what this valuation allowance and any changes to it indicates about the company's future earnings prospects.
- Identify the deferred tax liabilities that have been recorded on Amazon's financial statements in each of the last three fiscal years.
- Interpret how these items created the deferred tax liabilities.
- Explain under what circumstances this deferred tax liability may become payable and the potential timing of this payment.
- Identify any changes in accounting assumptions that impacted the deferred tax assets or deferred tax liabilities (e.g., changes to depreciation methods, changes in inventory methods, etc.).
- Calculate Amazon's debt-to-equity ratio under the following conditions:
- Classify deferred tax liabilities as debt.
- Classify deferred tax liabilities as equity.
- Exclude deferred tax liabilities from both debt and equity.
- Classify the deferred tax liabilities as debt or equity (or neither) for purposes of analyzing the company.
- Provide justification for your decision.
- Compare Amazon's provision for income taxes to the company's cash tax payments in each of the three fiscal years.
- State at least three factors that might contribute to increased or decreased cash tax payments in the next fiscal year for Amazon.
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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