This blog post will explain the applicable accounting standards for the calculation of deferred and future income tax. We will explore the key distinctions, between these standards. To begin with, it’s important to note that if you’re a public corporation in Canada you must adhere to IFRS for reporting purposes. Therefore, IAS 12 is the …
By: Haroon Khan, CPA, CA (Canada), CPA (USA) A few minutes ago, I finished reviewing the consolidated working papers, for a public company. To prepare a deferred income tax provision it is vital that it highlights the necessary accounting adjustments made during the process. This blog post explains the steps I took to make sure …
Ensuring Accuracy in Deferred Income Tax Provisions Read More »
By Haroon Khan, CPA, CA (Canada), CPA (USA) I can still vividly recall the time when I was working on my first deferred income tax provision according to the International Financial Reporting Standards (IFRS) guidelines, specifically IAS12. It was, during my tenure as a Senior Associate at KPMG when I was assigned the task of …
