1. TAX EFFECT ACCOUNTING
Sims and Cliff (2001, p.314) states that "AASB 1020 Accounting for Income Tax (Tax-Effect Accounting) was issued in 1989". ... Sims & Cliff (2001, p. 315) go on to state that "as part of the International Harmonisation project of the Australian accounting standard setters, the principles underlying the method of accounting for company income tax will change in the financial year of 2003". ... Baxter of Deloitte Touche Tohmatsu (online) says that "the revised Standard aligns the tax- effect accounting methodology used in Australia to that of International Accounting Standard IAS 12 "Income Taxe...
- Word Count: 2774
- Approx Pages: 11
- Grade Level: Undergraduate