Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

Tax accounting and reporting includes income tax provision preparation, deferred tax accounting and uncertain tax position reporting. Tax accounting and reporting has become increasingly complex due ...

"Tax payable" and "deferred income tax liability" both appear as liabilities on a company's balance sheet; both represent taxes that must be paid in the future. However, they arise in different ways.

A deferred tax asset is usually an item on a company's balance sheet that was created by the early payment or overpayment of taxes. They are financial assets that can be redeemed in the future to ...

In the tangled jungle of tax law, few things reveal the awkward dance between accounting rules and tax principles quite like deferred interest. It might sound like finance-speak, but it’s just unpaid ...

The move will reportedly reduce Citigroup’s capital buffer and weaken its balance sheet. Deferred tax assets amount to more than a third of the bank’s tangible equity and are the biggest held by any ...

Bajaj Auto Ltd on Monday said due to withdrawal of the indexation benefit and change in tax rate, the accounting provision for deferred tax on investment income needs to be restated. The Finance (No.