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Need to know the calculation method adopted for deferred corporate income tax?


Need to know the calculation method adopted for deferred corporate income tax?

Far too complex a subject to be dealt with here. Some folks devote their careers to it. It requires a good understanding of both accounting theory and income taxes.

Essentially, deferred tax represents the anticipated tax consequences of timing differences between financial accounting and income tax accounting.
In general the recording of deferred incomes taxes within the financial statements represent an estimate. I would direct you to Financial Accounting Standard 109 (FAS 109)for more guidence.

I agree with the tax Guru - this is a very complex topic - and his comment with regard to timing differences and future tax expenses and benefits is right on point.
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