Deferred Tax Assets (DTA) in accounting Some deferred tax assets are a direct result of your business’s accounting model, as they can arise where revenue is recognised as income but is not taxable or where the accounting period is misaligned with the tax period. What is DTL? Home » AccountingRead More →
Here are the typical items that are reported as current liabilities on a corporation’s balance sheet: … This reports the amounts that a customer has prepaid and will be earned by the company within one year of the balance sheet date. An example is a retailer’s unredeemed gift cards. AreRead More →
Increases. The partner’s basis is increased by the following items: The partner’s additional contributions to the partnership, including an increased share of, or assumption of, partnership liabilities. The partner’s distributive share of taxable and nontaxable partnership income. How are nonrecourse liabilities allocated? Generally, excess nonrecourse liabilities are allocated to theRead More →