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Chapter 16 Accounting for Income Taxes Form

Chapter 16 Accounting for Income Taxes Form

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hello thank you for joining me this is the first lecture for chapter 16. we're going to be talking about accounting for income taxes as you probably already know accounting for income taxes can be very different than our typical financial accounting so we are going to get into those differences today and look at how we account for those so the revenue and expenses on the tax return can differ from the company's income statement for that same year so we're going to look at a lot of different examples of how tax returns differ from the income statement all in the same year why is that why can that happen well the objectives of that tax return and income statement are not the same the reason we have financial accounting is to establish useful information for investors and creditors so we are trying to get the most useful information we're trying to tell the investors and creditors how much money we've made how much money or revenue we've earned how many expenses we've incurred we have tha

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