Q$1$

a$)$State the AASB $112/$IAS income taxes importance in understanding information related to income tax accounting.

b$)$ Describe the scope of the AASB $112/$IAS analysis, including the specific elements of the financial statements and notes that should be reviewed.

Q$2.$ Overview of AASB $112-$ Laura

a$)$ Objective: Summarize the purpose of AASB $112,$ which is to prescribe the accounting treatment for income taxes.

b$)$ Provide definitions of important terms such as current tax, deferred

tax, temporary differences, taxable profit, accounting profit, and tax loss, among others.