Using Under Armour's 2021 10-K form , examine the income tax expense and deferred tax assets and
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Question:
Using Under Armour's 2021 10-K form, examine the income tax expense and deferred tax assets and liabilities.
- Analyze the footnotes and assess the company's effective tax rate. State the tax rate, and is it a consistent rate? If not, do the fluctuations seem reasonable?
- What was the effect of the 2017 TCJA on the provision for income taxes and how did the new law change the company's effective tax rate?
- Do the deferred tax assets and liabilities seem appropriate given the company's industry?
- Is there a valuation allowance, and if so, how big is it relative to total deferred tax assets? Has the valuation allowance changed markedly during the year?
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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