Page 96 - Finac1 Test 1 slides
P. 96
INCOME TAXES
Outcomes
• Understand and calculate the implications of tax losses
(recognised and unrecognised) on current and deferred tax.
• Calculate and recognise the income tax line in the statement
of profit or loss and other comprehensive income.
• Disclose the income tax expense in the notes to the
statement of profit or loss and other comprehensive
income.
• Calculate and recognise all tax balances for the statement of
financial position, for example the deferred tax balance and
tax payable.
• Disclose income tax and deferred tax in the notes to the
financial statements.
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