1. TAX EFFECT ACCOUNTING
Keyes of AARF (online) outlines that: In consistent with the proposals in Exposure Draft ED 87 "Income Taxes" and the requirements in the International Accounting Standards Committee's Standard IAS 12 "Income Taxes" (and the US's equivalent Standard SFAS 109 "Accounting for Income Taxes"), the revised Standards adopt a comprehensive balance sheet liability method of tax-effect accounting. ... 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 "...
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- Grade Level: Undergraduate