美國(guó)CPA《財(cái)務(wù)會(huì)計(jì)與報(bào)告》知識(shí)點(diǎn)：所得稅會(huì)計(jì)

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　　Income taxes allocation

　　Intraperiod：income taxes allocate to different lines of F/S，but in same year

　　Interperiod：income taxes allocate to different year.

　　Interperiod allocation prequel

　　Federal Tax purpose Income（TI）

　　Financial accounting Income（FI）

　　Normally TI≠FI

　　TI–FI=Difference

　　Difference=Permanent Diff+Temporary Diff

　　Temporary Diff CAUSE interperiod allocation.

　　Income taxes mainly allocate to Income Statement.

　　Income taxes may allocate to OCI and/or stockholder‘s equity.

　　Income taxes allocate to Continuing Operation is present separately.（in row）

　　Income taxes allocate to other items are net with those line.（in parenthesis）

　　Where does income tax go in intraperiod？

　　I/S+OCI+Equity

　　I/S=IDEA

　　OCI=PUFER

　　Equity=R.E+AOCI+……（5+1）

　　A.Objective

　　Q：Why need allocate income tax interperiod？

　　A：Matching

　　B. Difference

　　TI–FI=Difference

　　Difference=Permanent Diff+Temporary Diff

　　Permanent difference affect Current/ NOT Deferred

　　Temporary difference affect Deferred/NOT Current

　　C. Comprehensive Allocation

　　Temporary difference feature：TURN AROUND

　　Interperiod tax allocation is applied to all temporary differences

　　In F/S recognize DTL/DTA for temporary difference

　　Liability Method（Balance Sheet Approach）

　　D. Accounting for Interperiod Tax Allocation

　　Total Income tax expense=Current + Change in Deferred

　　Current= Current income tax payable on the corporate tax return（Form 1120）

　　Change in Deferred=End DTA/DTL-Beg DTA/DTL

　　For Permanent Difference

　　Affect only income per books or taxable income，but NOT both.

　　NEVER Turn around/Reverse

　　Only impact “Current” taxes

　　No Deferred Taxes

　　Examples：Municipal bond interest.

　　For Temporary Difference

　　Affect both income per books or taxable income.

　　Will Turn around/Reverse

　　Only impact“Deferred” taxes

　　No Current Taxes effect

　　B.Deferred Tax Liabilities and Assets RECOGNITION.

　　B1.Deferred Tax Liabilities （DTL）

　　DTL arise/RECONGNIZE when the amount of taxes paid in the current period LESS than the amount of income tax expense in the current period.

　　The 1st and 4th quadrant

　　B2. Deferred Tax Assets（DTA）

　　DTA arise/RECOGNIZE when the amount of taxes paid in the current period EXCEEDS the amount of income tax expense in the current period.

　　The 2nd and 3rd quadrant

　　B3.Valuation Allowance（Subsequent measurement）

　　MLTN：More Likely Than Not，greater than 50%

　　If it is MLTN that part or all of the deferred DTA will not be realized，a valuation allowance is recognized.

　　C.Uncertain Tax Positions

　　Firms often include an uncertain deduction or other favorable position in their tax return.

　　If the position is MLTN to be accepted or sustained upon audit，then income tax expense may be reduced for some or all of the benefit.

　　C1.Scope of Uncertain Tax Positions

　　A tax deduction

　　A decision to not file a tax return

　　An allocation or shift of income between jurisdictions

　　A decision to exclude reporting taxable income，in a tax return

　　A decision to classify transaction etc. as tax exempt.

　　C2.Two-step Approach

　　Step 1–Recognition of the Tax Benefit

　　If MLTN test failed，then NOT recognize tax benefit，and the F/S tax Expense is increased.

　　Step II–Measurement of the Tax Benefit

　　Recognize the largest amount of the tax benefit that MLTN of being realized upon ultimate settlement with the taxing authority.

　　D.Enacted Tax Rate

　　Measurement of deferred taxes is based on the applicable tax rate.

　　Use the tax rate in effect when temporary difference reverses itself.

　　E.Treatment of and Adjustment for changes

　　Changes are recognized in the period of change（enactment）（prospective）

　　F.Net Temporary Adjustment

　　Deferred Income Tax expense/benefit=Ending balance of DTL/DTA-Beginning balance of DTL/DTA

　　G.Balance Sheet Presentation

　　Rule1.Deferred tax items should be classified based on the classification of the related asset or liability for the financial reporting.（血統(tǒng)論）

　　Rule2.Deferred tax items not related to an asset or liability should be classified based on the expected reversal date of the temporary difference.（NOL）

　　Rule3.Current DTL net with current DTA；non-current DTL net with non-current DTA.（門(mén)閥制）

　　Rule4.Valuation allowance allocated pro rata

　　Net Operating loss carry back 2 years or forward twenty years.

　　A.Tax carryback create a tax benefit，and should be recognized in the period they occur.

　　B.If an operating loss is carried forward，the tax effects are recognized to the extent that the benefit is MLTN to be realized.

　　Valuation allowance may be necessary.

　　Dividend received deduction based on upon the percentage of ownership

　　0-19%，70% exclusion

　　20-80%，80% exclusion

　　Over 80%，100% exclusion

　　Temporary Diff=Undistributed Earnings X（1- DRD%）

　　A.Balance Sheet Disclosures

　　The components of a net DTL/DTA

　　The net change during the year in the total valuation allowance.

　　B.Income Statement Disclosures.

　　The amount of income tax expenses（or benefit）allocated to continuing operations and the amount separately allocated to other items must be deisclosed.

　　Current tax expense or benefit

　　Deferred tax expense or benefit

　　……

　　Benefit of NOL carryforwards.

　　…。

　　A.Method

　　Asset and liability approach–balance sheet approach

　　B.Difference

　　Permanent

　　Temporary

　　DTL

　　DTA

　　Valuation Allowance

　　C.Measurement

　　Use applicable enacted tax rates

　　Classifiction

　　Balance Sheet Related

　　Classify according to the related asset or liability causing the temporary difference

　　Non-balance Sheet Related

　　Classify based upon the expected reversal or benefit period.

　　Netting/Offseting

　　Current（asset and liability）must be netted.

　　Noncurrent（asset and liability）must be netted.

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