Description

Corporate Income Tax Accounting (Hornbook Series) Christopher H. Hanna ISBN 9781685612740

Accounting for income taxes has become increasingly important for both financial reporting and tax compliance in recent years. Yet the need to account for income taxes in corporate financial statements—and to provide informed opinions on those statements—is not new. For decades, finance and taxation officers, particularly in publicly traded companies, have managed this essential responsibility.

The process involves multiple stakeholders: (i) business entities, (ii) tax authorities, (iii) financial accounting standard-setting bodies, (iv) auditors, and (v) tax strategists aiming to optimize overall tax and financial outcomes. Each participant has distinct objectives and perspectives, making the process inherently complex.

This text aims to explain the key elements at the intersection of financial accounting and taxation. Its goals are twofold: (i) to clarify the realities of financial accounting and tax compliance in today’s regulatory and business environment, and (ii) to provide practical guidance for structuring tax planning and financial reporting to meet all applicable requirements efficiently.

Distinctive features of this book include extensive numerical examples, excerpts from actual company financial statements, and discussion of contentious issues where financial accounting and income tax principles intersect. These tools help readers understand the dynamic interplay between accounting standards and tax regulations and make informed, practical decisions in the corporate setting.

Corporate Income Tax Accounting (Hornbook Series) Christopher H. Hanna ISBN 9781685612740, 978-1685612740 & 9781685619183

Authors
Christopher H. Hanna
Paul H. Yong
Mark P. Thomas