Tax accounting is the accounting for taxation or tax purpose, it depends on governemnet policies,while financial accounting is for company. In tax accounting we record transaction according to tax policy like if some income is tax free or some expenses are not consider by govt policy.
To Apply financial Accounting taking in your consideration applying the tax law and that tax reported are attainable easily and clearly for the authorities in the acceptable date
by
manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS
as per government policy all companies have to pay tax on total income on the basis of companies finanacial statement,tax accounting is depends on government policies ,rules,ammendments etc...In some countries govt does not levied tax .for tax calculation every companies prepared their final statement as per concerning government rules..some incomes would be taxable and some exempted ,,its depends on govt rule
