Archive for the ‘Others’ Category
FRS 112-Reconciliation Of Effective Tax Rate To Statutory Rate
In FRS112 on Income Taxes or IAS 12, there is a requirement for a reconciliation statement between the Effective tax rate (ETR) to the Statutory Rate in the notes to the financial statement wherein the following are normally taken up:
Non allowable expenses
Deferred tax assets not recognized
Expenses not allowed for tax purposes
Non taxable income
Differential tax rate-SME’s [...]
October 20, 2008
Tags: Corporate Tax, Effective Tax Rate Posted in: Corporate Tax, EVA, Financial Strategy, Others 
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What is Timing Difference in Tax and Timing Differences Versus Permanent Differences
As the taxable profit is computed based on taxation laws which differ from the accounting policies applied to determine the accounting profit, hence the taxable profit and accounting profit can differ. The difference between taxable profit and accounting profit can be classified into:
permanent differences
timing differences
This articles looks at the aforesaid differences and their impact on [...]
September 14, 2008
Tags: Timing differences, What is Posted in: Others No Comments
What is the Advantage(s) of Having Departmental Accounting
 This article looks at some of following reasons / justifications / advantages of having department accountsÂ
Advantages
     Each department is viewed as separate profit centre where department accounts is useful to evaluate performance of individual department by ascertaining trading, profit or loss of each department
      The financial results namely trading profit or loss of each department [...]
July 2, 2008
Tags: departmental accounting, What is Posted in: Others No Comments
