Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.
<p style="text-align:justify;">Deferred tax as per Indian GAAP or the UK GAAP are recognised for the estimated future tax effects of <strong>timing difference</strong> whereas, under IFRS deferred taxes are recognised for the estimated future tax effects of<strong> temporary differences</strong>. What is the difference here between timing and temporary difference? Are they the same? Will the DTA/DTL be different under the two approaches?</p>
Temporary differences between the reporting of a revenue or expense for financial statements (books) and the reporting of the item for income tax purposes. For example, it is common for companies to depreciate equipment on the financial statements over a ten-year period using the straight-line method. However, for income tax purposes the company uses the IRS's seven-year, accelerated depreciation method. Eventually, the total depreciation will be the same; however, each year for ten years there will be differences due to the timing of the depreciation
no difference. Mean same thing. They result due to taxable and non- taxable itmes as per IAS 12
timing diffrence are calculted one means it can be define but tempoaray are the act of time and not caulculted
Timing difference would refer to the difference occuring in a set of time where diff was observed while temporary diff is for the span of time diff had occur.
TIMING DIFFERENCE MAY BE CALCULATUVE AND CAN BE MEASURABLE BUT OTHER SIDE TEMPOARY DIFFERENCE Can not be calculative
These revenue and expense items cause a timing difference between the two incomes, but over the "long run", they cause no difference between the two incomes. This is why they are temporary. When the difference first arises, it is called "an originating timing difference".
Yes there is a time difference which means that the timing has not yet been completed. Temporary difference means that the act has been timed. Temporary differences occur because financial accounting and tax accounting rules are somewhat inconsistent when determining when to record some items of revenue and expense.
Temporary differences occur because financial accounting and tax accounting rules are somewhat inconsistent when determining when to record some items of revenue and expense.
A debit card,like a credit card, is a small plastic card that can be used as a method of payment. However, instead of drawing from a line of credit, a debit card automatically withdraws funds from an attached bank account; it combines the functions of ATM cards and checks. When you pay with a debit card, the money is immediately deducted from your checking account. There is no borrowing or repayment involved because you are simply accessing your own account and funds remotely. Some transactions (including cash-back transactions) will require you to enter your personal identification number (PIN) in order to authorize the transaction, while others allow a simple swipe. Many banks issue a combined ATM/debit card that looks just like a credit card and can be used wherever credit cards are accepted. But don't be mistaken—they do not work the same way.
Temporary differences between the reporting of a revenue or expense for financial statements (books) and the reporting of the item for income tax purposes. For example, it is common for companies to depreciate equipment on the financial statements over a ten-year period using the straight-line method.
Temporary differences occur because financial accounting and tax accounting rules are somewhat inconsistent when determining when to record some items of revenue and expense.