Study Session 8: Financial Reporting and Analysis: Inventories, Long-Lived Assets, Income Taxes, and Non-Current Liabilities
What is the difference between Impairment and Revaluation? How is impairment loss reversed? I am very confused between these two
Hello - assuming this has already been asked (didn’t see it in my quick search though), but does anyone have a summary of the changes for the 2019 test? Specifically am looking for changes for operating leases as these are now being added to the balance sheet. Asking as I’m using a set of 2018 KS books that obviously do not reflect the change. Just want to make sure I’m p
A company recognized rent received in advance amounting to $500,000 in the current year. For tax purposes the rental income is taxed at 10% when cash is received. The carrying value and tax base of this liability are closest to:
Tax Base Carrying Value
A. $500,000 $0
B. $0 $50,000
C. $0 $500,000
An Increase in the valuation allowance is most likely to indicate an increase in:
B. shareholder’s equity.
C. net deferred tax liability.
Please explain you reasoning:
Can anyone explain this sentence?
How do I learn, remember, and retain the effects of increasing/decreasing prices and the effects of inflation on COGS and a firm?
Please someone help me with this exercise. My question is written in the end of it.
The following information is available for a company that prepares its financial statements according to US GAAP:
Deferred tax assets
Deferred tax liabilities
I am trying to form a study group in Perth. If you are interested, please leave your message below.
Can someone please help me with the logic of this question:
There is a company with X amount of Deferred Tax Assets and Y amounts of Allowance for these assets in Years 2016 and 2017.
In 2017 Allowance was $115 lower than 2016.
If the valuation allowance had been the same in 2017 as it was in 2016, the company would have reported $115 higher:
Study together. Pass together.
Join the world's largest online community of CFA, CAIA and FRM candidates.