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What the differences between the loss of operating carryback and the loss of operating carry forward?

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Question ajoutée par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date de publication: 2017/05/09
Ashraf E. Mahmoud (PhD)
par Ashraf E. Mahmoud (PhD) , University Lecturer, Freelancer Consultant and Trainer for Int'l Business & Banking TF. , FreeLancer

Thanks for invitation,

Supporting the answer of Mr. Soliman.

Soliman Abd  ALmalak Gendy
par Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

The loss of operating carryback : it's an accounting technique with which a company retroactively applies net operating lossses to a preceding year's income in order to reduce tax Liabilities present in the previous year. _They are similar to loss carry forwards, except companies apply their net operating lossses to preceding rather subsequent years'incomes _Loss of operating carry forward refers to an accounting technique that applies the current years' net operating lossses to further years' profits to reduce tax Liabilities and track profits accurately.

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