Basic Principles for Income Tax Accounting

What is Basic Principles for Income Tax Accounting ?

Basic Principles for Income Tax Accounting meaning The following basic principles are applied in accounting for income taxes at the date of the financial statements:  a) A current tax liability or asset is recognized for the estimated taxes payable or refundable on tax returns for the current year. 

 

reference: IPEDS Data Collectrion System – Glossary

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