Deferred Taxation

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Definitions
Deferred Taxation
Deferred Taxation Tax Accounting Timing Differences Capital Allowances Depreciation Financial Reporting Standard IAS 12
Deferred taxation refers to the sum set aside for tax in the accounts of an organization that will become payable in a period other than the one under review. It arises due to timing differences between tax rules and accounting conventions.
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Definitions
Timing Difference
Timing Difference Deferred Taxation Financial Statements Accrual Basis Tax Computation
Timing differences arise when there are differences between the recognition of income and expenses for tax purposes and their recognition in financial statements. These discrepancies are temporary and typically reverse over subsequent periods.
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