Questions from Intermediate Accounting

Q: Does accounting for a net operating loss (NOL) carryback require

Does accounting for a net operating loss (NOL) carryback require less judgment than accounting for the NOL carryforward?

Q: How does an entity account for uncertain tax positions?

How does an entity account for uncertain tax positions?

Q: Do U.S. GAAP and IFRS have similar approaches to

Do U.S. GAAP and IFRS have similar approaches to accounting for tax contingencies?

Q: For each case, provide the missing information. Assume that payments

For each case, provide the missing information. Assume that payments occur at the end of each period.

Q: How do firms classify deferred tax accounts?

How do firms classify deferred tax accounts?

Q: Do U.S. GAAP and IFRS classify deferred tax accounts

Do U.S. GAAP and IFRS classify deferred tax accounts in the same manner?

Q: Are extensive disclosures required for deferred taxes?

Are extensive disclosures required for deferred taxes?

Q: When will income tax expense and income taxes payable be equal?

When will income tax expense and income taxes payable be equal?

Q: Will permanent differences cause the effective tax rate to be lower than

Will permanent differences cause the effective tax rate to be lower than the statutory rate?

Q: When do permanent differences arise?

When do permanent differences arise?