TAILIEUCHUNG - Ebook Financial accounting and reporting (18th edition): Part 2

(BQ) Part 2 book "Financial accounting and reporting" has contents: Taxation in company accounts, intangible assets, construction contracts, accounting for groups at the date of acquisition, earnings per share, analysis of published financial statements, review of financial ratio analysis,.and other contents. | CHAPTER 16 Taxation in company accounts  Introduction The main purpose of this chapter is to explain the corporation tax system and the accounting treatment of deferred tax. Objectives By the end of this chapter, you should be able to: ● ● ● ● discuss the theoretical background to corporation tax systems; critically discuss tax avoidance and tax evasion; prepare deferred tax calculations; critically discuss deferred tax provisions.   Corporation tax Limited companies, and indeed all corporate bodies, are treated for tax purposes as being legally separate from their proprietors. Thus, a limited company is itself liable to pay tax on its profits. This tax is known as corporation tax. The shareholders are accountable for tax only on the income they receive by way of any dividends distributed by the company. If the shareholder is an individual, then income tax becomes due on their dividend income received. This is in contrast to the position in a partnership, where each partner is individually liable for the tax on their share of the pre-tax profit that has been allocated. A partner is taxed on the profit and not simply on drawings. Note that this is different from the treatment of an employee who is charged tax on the amount of salary that is paid. In this chapter we consider the different types of company taxation and their accounting treatment. The International Accounting Standard that applies specifically to taxation is IAS 12 Income Taxes. The standard was last revised by the IASB in 2012. Those UK unquoted companies that choose not to follow international standards will follow FRSs 100–102 from 2015 (with earlier adoption allowed). Corporation tax is calculated under rules set by Parliament each year in the Finance Act. The Finance Act may alter the existing rules; it also sets the rate of tax payable. Because of this annual review of the rules, circumstances may change year by year, which makes comparability difficult and

• Kế toán - Kiểm toán
• Financial accounting
• Accounting reporting
• Financial reporting
• Company accounts
• Intangible assets
• Construction contracts
• Earnings per share
• Financial ratio analysis
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting standards
• Financial Accounting Standards Board
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Accounting cycle
• Accounting for accruals
• Lecture Financial accounting
• Accounting system
• Accounting activities
• Financial accounting practice
• Accounting information system
• Accounting terminology
• Reporting financial results
• Evaluating liquidity
• Business firms
• The financial reporting reform
• Accounting information
• Management accounting
• Accounting equation
• Accounting systems
• Decision making
• External financial reporting
• Accounting for business
• Lecture Accounting for business
• Financial accounting reports
• Statement of financial performance
• Accrual accounting systems
• Statement of financial position
• Mastering financial accounting essentials
• Financial accounting essentials
• Accrual accounting
• Income statement
• Accounting conventions
• Internal control
• Accounting for cash
• Accounting for receivables
• Computing uncollectible accounts expense
• Long term debt
• Accounting for long term debt
• Paper F3
• Revision kit 2016
• Accounting Financial
• Accounting Financial Review
• Financial Review accounting exam
• Study text 2016
• Language of business
• Double entry accounting system
• Credit terminology
• Merchandising businesses
• Accounting for merchandising businesses
• Accounting for inventories
• Cash discounts
• The accounting cycle
• International financial reporting standards
• Completing the accounting cycle
• Accounting worksheet
• Classified balance sheet