Page 91 - International Taxation IRS Training Guides

Overview (Cont’d)

For purposes of this training:

discussed in this training is under US GAAP and not
 ETR
International Financial Reporting Standards
under
ETR, as discussed in this session, applies
(“IFRS”). Hence,
primarily t o
US-based companies reporting their financial
under US GAAP rather than to foreign companies
results
reporting in IFRS or
some other accounting standard.

 This
training will NOT go into detail concerning domestic (as
opposed to international)
tax items that reduce ETR such as

the Research &
Development (“R&D”) credit and tax exempt
interest.

6